Entering text into the input field will update the search result below

CAUTION-- POSSIBLE TOP-BUILDING

Jul. 24, 2016 4:34 PM ETAAPL
Michael Clark profile picture
Michael Clark's Blog
1.36K Followers
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

CAUTION

Jul 24 4:29 PM•UDOWComment!

Disclosure: I am/we are short UDOW.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

CAUTION: THE LIGHT IS YELLOW.

One of our best trading systems, CGTS_LD, returned this report after Friday's trading. A lot of exiting of positions.

Began Trading TRADING SYSTEMS
TOP SYSTEMS
1/1/16 37.48% EMV ASP REMAKE 2016 *
1/1/16 35.32% T11 RSTD M4 21 BASIC
1/1/16 75.35% CGTS L_DIF ASP 22 2016
4/22/16 27.34% T11 RESIST TRADE
Column1 Column2 Column3 Column4 Column5
Symbol Close PROP1 Position Issue
NFLX 85.89 -23 Short Netflix
CDE 13.42 -1 Flat Coeur D'Alene Daily
DRYS 0.51 1 Flat Dry Ships Daily
GPRO 11.08 -3 Flat Go PRO
HMY 4.32 -1 Flat Harmony Mining
ICON 6.95 -15 Flat Iconix Brand Group
NTDOY 29 -1 Flat Nintendo
SPU 14.25 23 Flat Skypeople Fruitjuice China
WLL 8.18 -19 Flat Whiting Petroleum

A topping process is sometimes immediate; and sometimes it is drawn out.

Here's a picture of our DASHBOARD.

We are getting shortsale signals on Netflix in a couple of systems. Our EMV System has been simplified visually to show the Intermediate Trend (red line) and the EMV Momentum Line (blue line) -- when the red line splits and rises and the blue line is low, buy, -- when the red line splits and falls and the blue line is high, sell.

CAVEAT. The buy signal also requires that the LONG-TERM TREND also be positive (the bottom pane). DRYS, Dry Ships, is giving a buy signal.

We showed you CDE last week, a stock we love but which we sold on a trading sell signal.

Here are a couple more charts that are adding to our sense of pending peril. DSLV, Short Silver ETF, is giving a BUY SIGNAL in our EMV System. In our VIX-4 (EMV) Trading Systems, VIX has finally given a cover signal -- which implies a storm ahead, perhaps.

We warned readers last week that NTDOY, Nintendo, was flying to the moon. I'm going to keep an eye on this one, for later use. It is not given a sell signal in our EMV System.

We have been watching AAPL for some time, with the idea of buying it. But it is on the verge of issuing a shortsell signal again.

Note how Apple has been unable to lift its buying strength PROP1 back into the BUYZONE. This is a sure sign of underlying weakness. Here's a report of our activity over the weekend.

TRADES 0.757
7/22/16
CLOSED
VIX-6 Short DRV, Short Real Estate ETF 4.44%
VIX-4 Short VIX, Volatillity Index 29.62%
VIX-4 Long ERX, Energy Stocks Bullish -2.11%
VIX-1 Long DWTI, Short Oil Stocks 28.86%
VIX-1 Long QQQ, Nasdaq INdex Bullish 5.15%
VIX-SS Short VIX, Volatility Index 29.62%
EMV Long HMY, Harmony Gold 24.36%
EMV Long NG, Nova Gold 10.16%
EMV LONG UGLD, Gold Bullish ETF 9.68%
EMV Long SA, Seabridge Gold -8.69%
OPENED
VIX-5 Short NFLX, NETFLIX 85.89
VIX-5 Long DRYS, DRY SHIPS 0.5101

Happy Trading.

MJC, CGTS

Analyst's Disclosure: I am/we are short UDOW.

PROFIT TAKING IN SILVER AND GOLD. HOWEVER, LONG-TERM BULLISH. BULLISH IN GOLD, SILVER, TBONDS, JAPANESE YEN. TRADING TOP IN UDOW?

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.