Below we have a multi-year weekly view of Salesforce.com, ticker CRM.
The chart below is a closeup view of the weekly chart hi-lighting the most recent "breakout".
In more important matters, Washington's Blog which puts out some very insightful, thought provoking stuff had a real gem yesterday entitled A Banana Republic With No Bananas. It is a must read. In the piece, it outlines the 4 pre-requisites for a full fledged banana republic which are;
1. Profits privatized and debts socialized.
2. Devalue paper currency.
3. Politicians use time in office to maximize their own gains.
4. Corruption remains unchecked, Politicians are only for show.
Here is a quick snippet from the piece which includes some comments from Bill Black, noted author of The Best Way to Rob a Bank is to Own One.
"William K. Black - professor of economics and law, and the senior regulator during the S & L crisis - says that that the government's entire strategy now - as during the S&L crisis - is to cover up how bad things are ("the entire strategy is to keep people from getting the facts").
Indeed, as I have previously documented, 7 out of the 8 giant, money center banks went bankrupt in the 1980's during the "Latin American Crisis", and the government's response was to cover up their insolvency.
Black also says:
There has been no honest examination of the crisis because it would embarrass C.E.O.s and politicians . . .
Instead, the Treasury and the Fed are urging us not to examine the crisis and to believe that all will soon be well."
The whole piece is well worth your time.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 2 units Direxion Tech 3X Bear ticker TYP @ $10.52
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $52.23