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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 Hitting Resistance? 0 comments
    Jul 27, 2012 11:17 AM | about stocks: SPY, SSO, SDS

    The S&P has staged a pretty fierce two day rally into week's end. The rally has taken the S&P right to a falling trendline that starts with the early April 2012 market top. Below is a chart using the S&P futures (/ES), which is trading about 5 points lower than the cash SPX. The current trendline of current resistance runs through market peaks in early may and mid-July. This is relatively minor resistance within what appears to be much larger pennant over the last 5 years (the thicker black lines are the framework of that pennant pattern).

    (click to enlarge)

    A break above this level would suggest that the S&P can run another 30 points, to the 1400 level. A pullback could have any number support levels before hitting critical support just above 1300.

    Stocks: SPY, SSO, SDS
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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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