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First off, I view the entire monetary and financial system as something of a Ponzi scheme. Starting with currency that is debt, and running straight though a global economic model that is based on a premise of infinite growth in a finite world. This won't end well. I'd go a step further and... More
My company:
New Power Media
My blog:
Playing the Ponzi
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  • I am now posting under the SA name "Playing the Ponzi"
    Not that anyone reads what I write, but I've started posting under the name Playing the Ponzi.  It matches my blog, and would allow me to write articles under a pen name.  Since I don't work in finance, and my father has the same name as me, I prefer to use a pen name.  Plus Playing the Ponzi puts all my biases right out there.
    Jul 14 11:10 PM | Link | Comment!
  • Test time for US Dollar Rally

    It appears to be test time for the US Dollar, should a turnaround from its 12 month slide be in the cards.  The Dollar broke out bullishly from a flag pattern last week, only to be rejected at the 23% Fibonacci retracement of last June's high.  But has now fallen all the way back to the supporting trendline from its May bottom.

    The Euro has rallied back to the bottom of the flag pattern that it bearishly broke under last week.  It bounced hard off trendline support from last year's bottom.  Will the Euro touch resistance and resume its recent downtrend?  Or will the longer term uptrend resume?

    The answer, either way, is likely to be telling.  It's worth noting that both agriculture (DBA as a proxy) and broad commodities index (DBC as a proxy) look like they broke to upside of short-term trendline resistance yesterday.  Is that a clue that the Dollar's recent strength was a headfake?

    Tags: EUO, UUP, UDN, EU, DBA, DBC, euro, us dollar
    Jul 14 9:55 AM | Link | Comment!
  • Commodities break out?

    Recently, it looked like a wide variety of commodities were on the cusp of significant technical breakdowns.  Fast forward a couple weeks and the script has flipped.  DBA (Agriculture) appears to be breaking to the upside of bearish triangle patterns:













    Commodities (using DBC as a proxy) had all the makings of a very bearish Head-and-Shoulders, complete with a break under the neckline... only to rally ferociously starting last week.  It has now broken above trendline resistance. 

    And "Dr. Copper" (using JJC as a proxy here) is also pushing higher after breaking above resistance:

    The US Dollar broke violently above its flag pattern a few days ago, only to retreat hard from the 23% Fibonacci retracement line.  It has continued falling hard today and QE3 rumors have pushed equities higher and the Dollar lower.have pushed equities higher and the Dollar lower.

    Jul 13 11:12 AM | Link | Comment!
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  • Added DBA yesterday as it appears to have bullish broken above its recent downtrend resistance.
    Jul 14, 2011
  • Euro and USD each testing key technical trendlines today. See if the US Dollar rally will have longer term legs...
    Jul 14, 2011
  • Sad but true, Archman
    Jul 13, 2011
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