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Michael Clark
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Michael J. Clark was born and raised in Sinclair, Wyoming. He is a poet, novelist, artist, historian, and market analyst. His fine arts portfolio can be found at the following address: http://www.hoalantrangallery.com/MJC2.htm His writing portfolio can be found at:... More
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Clark's Gate Timing System ©
  • DOWNSIDE MOMENTUM CONTINUES IN MARKETS. COVERING SOME SHORTS ANYWAY. NEW LONG AND SHORT POSITIONS. 0 comments
    Jul 25, 2012 4:41 AM

    Our Market Internal Indicators continue to trend down. Our ChartMeter ASP has fallen from 55.47% bullish on 2 July to 23.63% bullish today. Our Longer-Term indicators, T11D Sunmarry and M4 21 Sum, have fallen, respectively, from 55.27% bullish on 9 July to 44.1% bullish today, and from 65% bullish on 10 July to 43% bullish today.

    DateSPXCM ASPT11D SumM4 21 Sm
    7/2/121365.5155.47%49.80% 
    7/3/121374.0256.64%50.00% 
    7/5/121367.5857.03%54.30% 
    7/6/121354.6850.20%55.08% 
    7/9/121352.4647.27%55.27% 
    7/10/121341.4741.80%54.69%65.43%
    7/11/121341.4540.23%53.52%63.28%
    7/12/121341.7636.52%51.76%58.40%
    7/13/121356.7846.09%50.20%58.79%
    7/16/121353.6441.80%50.20%56.64%
    7/17/121363.6742.77%49.02%55.27%
    7/18/121372.7849.41%49.41%55.47%
    7/19/121376.5148.83%50.00%56.25%
    7/20/121362.6642.38%48.24%53.71%
    7/23/121350.5231.45%47.07%48.82%
    7/24/121338.3123.63%44.14%42.97%

    See the CM ASP chart below.

    The theme for today is that we are taking profits in some short positions. We don't think the decline is over; but we are ready for a reverse bounce up.

    We have a group of new LONG positions to trade this bounce up: ARX, CA, Fortis, JEC, TTI.

    We have a few new short positions also: AONE, ARNA, BMI, LXRX, OREX.

    We are covering short positions with reasonable to healthy profits in: FTSE, CTSH, FDX, FXI, INTC, MCD, Glendore International.

    We'll start with the short covering positons:

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    NEW SHORT POSITIONS

    AONE, ARNA, BMI, LXRX, OREX. The last two are in quite healthy uptrends; but we are trying to play the short-term sell-off we are expecting to get profits.

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    NEW LONG POSITIONS. These are trading positions, as we don't believe the market has finished this sell-off yet.

    ARX, CA, Fortis, JEC, TTI.

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    Michael J. Clark, Hanoi, Vietnam

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