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MORE SHORTSELL SIGNALS TODAY. IS THE RALLY ALREADY OVER? SELLING TO START AGAIN.

OK. WE HAD ONE DAY OF STRONG BUY, FOLLOWED BY TWO DAYS OF HEROIC RESISTANCE TO SELLING. WHAT DOES ALL OF THIS MEAN?

Well, in my view, it means that the Bear is still in charge. The markets are now short-term overbought -- and most issues didn't gain much, merely treading water. One of our best trading systems gave the following readings over the last two days. Note again, the only long signals today are for two INVERSE BEAR ETF's: China and Short Industrials:

 

 

SYMBOL CLOSE TODAY YESTERDAY COMPANY
         
AFFX 3.22 Enter Short   Affymetrics Inc.
AVEO 6.71 Enter Short   AVEO Pharmaceuticals
CHK 17.59 Enter Short   Chesapeake Energy
HLF 48.67 Enter Short   HERBALIFE
KGN 4.08 Enter Short   Keegan Resources Gold
KSU 76.33 Enter Short   KANSAS CITY SOUTHERN
LXRX 1.72 Enter Short   Lexicon Pharmaceutical
NAB.AX 23.64 Enter Short   National Bank of Australia
NILE 37.39 Enter Short   Blue Nile
SCHN 27.82 Enter Short   Schnitzer Steel Indust
^TNX 1.687   Enter Short 10-Year CBOE Interest Rate
DDD 41.41   Enter Short 3D Systems
DNDN 4.39   Enter Short Dendreon Corp
EXM 0.451   Enter Short Excel Maritime Carriers
MAKO 13.95   Enter Short Mako Surgical Corp
MET 32.84   Enter Short MET LIFE INSURANCE
UNH 53.53   Enter Short United Healthcare Daily
AIG 32.67     American Intl Group Daily
ETFC 8.11     E-Trade Financial Daily
EZCH 36.95     EZChip Semiconductor
LNKD 107.59     Linked In
RGR 53.07     Sturm Ruger
AXPW 0.26   Enter Long AXION
TNP 3.94   Enter Long Tsakos Energy Navigation LTD
FXP 21.89 Enter Long   Short FTSEChina Index ETF Daily
SIJ 30.75 Enter Long   Short Industrials ETF Daily
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On Seeking Alpha over the last few days we had all kinds of stories about the 'New Bull Market' and 'Did Apple Bottom on Friday?' -- I guess I would answer both of these questions: NO.

Did Apple bottom on Friday? Let's look at an AAPL chart -- in fact, AAPL is giving a short-sell signal today and would appear on our list above if it had not already given a shortsell signal back in September:

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Not a positive picture for Apple Computer.

So, what about the market generally? The rally is already overbought; and it did not really go anywhere. My view is that we are ready for another leg down. Let's look at the S&P 500 Index (negative) and the US Dollar Bullish ETF (UUP -- positive, which seems to be negative for stocks). The last three days have been a pullback in the US Dollar. If the Dollar resumes its climb, then stocks should resume their decline:

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INDIVIDUAL STOCKS TO TRADE (see table above)

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I am not a perma-bear. When buying turns my system back to "GO" I will announce this to my readers.

Best,

Michael J. Clark

CGTS, Hanoi, Vietnam

22 November 2012

The anniversary of the murder of President John F. Kennedy by the Old Money Patriarchs (Big Oil in Texas, Mafia in New Orleans, CIA, with coverup assistance from J Edgar Hoover and the FBI). INFAMY.