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Playing the Ponzi
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Why “Playing the Ponzi”? I view the entire monetary and financial system as something of a Ponzi scheme. Starting with currency that is created as debt, and running straight through a global economic model that is based on infinite growth in a finite world. This won’t end well. I’d go a... More
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Playing the Ponzi
  • S&P Retest Bottom Of Recent Range 0 comments
    May 9, 2012 2:42 PM | about stocks: SPY

    The S&P Futures (ES) appear ready to test the 1340 area for the third consecutive day. Let's see if the third time is a charm for the Bears...

    (click to enlarge)

    Each the last two days have seen steep rallies, especially after the European close (wait... Europe trades tomorrow too? Crap!). Intra-day, we can see this repeated probing of the 1340 level. This area provided a mid-term bottom back in early March. A break would likely clear a path to the 1300 level, where there appears to be some pretty significant technical support. A green close would appear to break the downtrend of the last week and may set the stage for a rally back to the 1400ish level in the coming week(s).

    Stocks: SPY
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  • Momo's keep breaking down. Shorted LKND this morning. Add it to CMG and AAPL as momo market leaders continue showing weakness.
    Apr 23, 2012
  • Shorting CMG here at $423. Now short both CMG and AAPL - playing with "momo" fire.
    Apr 20, 2012
  • Funny/bizarre that with S&P up .4%, TZA (3x small cap bear) is green and TNA (3x small cap bull) is red.
    Dec 23, 2011
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