Abstract
We construct a stable model structure on profinite symmetric spectra with a continuous action of an arbitrary profinite group. This provides a natural framework for a new construction of homotopy fixed point spectra and of homotopy fixed point spectral sequences for the action of the extended Morava stabilizer group on Lubin-Tate spectra. These continuous homotopy fixed points are canonically equivalent to the homotopy fixed points of Devinatz and Hopkins but have a drastically simplified construction.
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