Playing the Ponzi's  Instablog

Playing the Ponzi
Send Message
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 step... More
My blog:
Playing the Ponzi
  • Corn And Sugar Face Resistance 0 comments
    Jul 21, 2012 4:07 PM | about stocks: CORN, SGG, USSF

    Much has been made of the drought conditions that have shot the price of wheat, soybeans and corn upward. Only a month ago, the CORN ETF broke to the upside of a falling wedge. After a quick 20% rally, it now faces resistance at its 2011 high.

    While corn has been front and center in the headlines, sugar has quietly rallied up to (4x-tested, 2 year old) trendline resistance in a pennant pattern that dates back four years. Will it retreat as part of a cooling agricultural frenzy, or will it follow corn and friends with a breakout of its own.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: CORN, SGG, USSF
Back To Playing the Ponzi's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.