This paper describes how one version of Montenegrin identity was constructed in the Montenegrin newspaper Pobjeda online (Victory online). This construction was analyzed in connection with commemorations of the Montenegrin Dan nezavisnosti (Independence Day), 21 May, from 2006 to 2009. The elements analyzed within a social semiotic approach are layout, photographs, verbal text, and discourse models. The results of the analysis suggest that Montenegrin identity was constructed as a continuation of independence achieved in the past, and then unwillingly interrupted. The results indicate, moreover, that identity was also constructed as having been achieved through conflict with both internal and external enemies, and through concepts like independence, democracy, modernity, and European values.