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CHINESE WATER-TORTURE SELLING CONTINUES

|Includes: CHK, Momo (MOMO)

CHINESE WATER-TORTURE SELLING CONTINUES


Apr. 23, 2017 10:08 PM ET • MOMO, CHKComment! comments

Disclosure: I am/we are long 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.

Friday was another painful SELLING day. This led us to update our numbers to see if the accretion of selling is culminating in a BEAR victory. (I just misspelled "BEAR" as "FEAR" -- yes, that does say something.) We are all of us both BULL AND BEAR, both GREED AND FEAR. The idea that the world is made of of discrete categories and people -- permanent sides opposing one another. We flow back and forth between the two sides -- as Einstein suggested, Energy flows into Mass and Mass flows back into Energy.

Well, our numbers are still bullish. There is no denying that we are experiencing a Chinese-Water-Torture SELLING spate however. Our temperature is still quite bullish: 80.973°. Our TRADING TEMP has fallen to 65.79°, still quite warm when you consider it has been as low as 53.77° in the last year. In a real spate of selling, we expect the TRADING TEMP to fall through 50° and the ST TREND to fall into the 40%'s (56.34% today). It was 41.75 on 11/4/16, still bullish.

Oil had a mean week. And the macro news has been pretty devastating: war in North Korea; election of the far-right party (anti-EU) in France; more killing in France and in the US by Islamic fascists. Of course, we are heading for the End of the World (2019), which will also be the Beginning of the (New) World. If it feels like the world is ending, then it should feel that way. But it will start .

Here is our report. We do have a new LONG position (NASDAQ:MOMO) and a new SHORT position (NYSE:CHK).

Column1 Column2 Column3 Column4 Column5 Column6 Column7 Column8 Column9
4/23/17                
                 
                 
COUNT SIMPLE PORTFOLIO REPORT            
      COUNT     NEW POS NEW POS  
SYMBOL CLOSE COUNT DIFF PROP1 POSITION TODAY YESTERDAY ISSUE
                 
CHK 5.52 6 -2 -23 Short Enter Short   Chesapeake Energy
CAAS 4.74 -14 -2 -25 Short     Chinese Auto Daily
MYL 36.83 -28 -2 -25 Short     Mylan Labs
STNG 4 -10 -2 -25 Short     Scorpio Tankers
SWN 7.44 6 -2 -25 Short     Southwestern Energy Corp
OCN 2.42 22 -2 -23 Short     Ocwen Financial
HTZ 15.64 -30 0 -19 Short     Hertz
DSLV 21.75 -18 -2 -15 Short     * Silver Stocks Bearish ETF 3x (NO)
SPU 3.4 4 0 -7 Short     Skypeople Fruitjuice China
GDXJ 34.545 28 2 -7 Long     Gold Junior Minors ETF Daily
LBJ 105.75 24 2 -7 Long     * Latin America Stocks Bullish ETF 3x
NSRGY 75.75 30 0 -7 Long     Nestles
ABX 19.23 30 2 -5 Long     American Barricks Gold
FSM 5.03 30 0 -5 Long     Fortuna Silver Mines
KTOS 7.6 24 2 -5 Long     Kratos Defense & Security
OIL 5.33 10 2 -5 Long     Oil ETF
PBR 9.01 8 2 -5 Long     Petrobas Petroleum Brasil
SAND 4.37 28 2 -5 Long     Sandstorm Gold
SSRI 10.66 30 2 -5 Long     Silver Standard Resources
USLV 15.52 18 2 -5 Long     * Silver Stocks Bullish ETF 3x (NO)
AHGP 27.56 4 2 -3 Long     Alliance Holdings Mining
COP 47.74 8 2 -3 Long     Conoco Philips Daily
HDP 10.12 4 2 -3 Long     Hortonworks
HL 5.47 24 2 -3 Long     Hecla Mining
PAAS 18.09 30 2 -3 Long     Pan-American Silver
^VIX 14.73 22 0 -1 Long     CRB Volatility Index Daily
^XAU 86.841 30 2 -1 Long     Phila Gold/Silver Ind $
AG 8.77 24 2 -1 Long     First Majestic Silver
GFI 3.84 30 2 -1 Long     Gold Fields
IAG 4.34 24 2 -1 Long     I Am Gold
NDLS 5.45 30 0 -1 Long     Noodles
OMER 16.01 18 2 -1 Long     Omeros Corporation
RGLD 72.4 30 2 -1 Long     Royal Gold Inc
UGLD 11.33 24 2 -1 Long     * GOLD ETN BULLISH 3X (NO)
OTIV 1.62 10 2 3 Long     On Track Innovations
UHN 14.74 18 2 3 Long     Heating Oil ETF
WKHS 2.3 -12 2 3 Long     Workhorse Group
ACH 12.86 6 2 5 Long     Aluminum Corp of China
AMSC 6.93 30 2 5 Long     American Superconductor
BBRY 9.08 30 0 5 Long     Blackberry (RIMM)
CBPO 114.08 26 2 5 Long     China Biologic
CTL 25.32 26 2 5 Long     Century Link
DATA 54.09 12 2 5 Long     Tableau Software
DRN 23.48 22 2 5 Long     * Real Estate Stocks Bullish ETF 3x (NYSE:O)
EGO 3.6 24 2 5 Long     El Dorado Gold Mines
GNC 8.24 -12 2 5 Long     GNC Holdings
GVA 51.68 12 2 5 Long     Granite Construction
HLF 59.98 30 2 5 Long     HERBALIFE
JWN 47.62 8 2 5 Long     Nordstroms
KBR 14.99 8 2 5 Long     KBR INC
LOCO 12.25 20 2 5 Long     El Pollo Loco
NSM 16.43 8 2 5 Long     Nationstar Mortgage
SPWR 6.67 -6 2 5 Long     Sunpower
SRPT 32.61 -16 2 5 Long     Sarepta Therapeutics
SSYS 24.03 24 2 5 Long     Stratasys LTD
TOO 5.62 6 2 5 Long     Teekay Offsore Partners
W 45.96 30 0 5 Long     Wayfair
YGE 2.7 16 2 5 Long     Yingli Green Energy China
TSLA 305.6 26 2 17 Long     Tesla Motors Daily
MOMO 38.32 30 2 5 Long Enter Long   Momo
                 
Initiated                
3/3/17   2.14% --->---> COUNT Simple      
3/3/17   5.24% --->---> COUNT Plus        

Here are pictures:

We looked at MONTHLY CHARTS this weekend, looking for chart deterioration. We did not see much deterioration.

MONTHLY TRADES  
  4/21/17  
     
  1128.HK LONG
  AHGP LONG
  ALGT SHORT
  AMD LONG
  APO LONG
  AVAV LONG
  AXAS WATCH
WEEKLY AXON Long
  AXU LONG
  BBL, Billiton WATCH
  BEAV LONG
  BHP, Billiton LONG
  BOX LONG
  BRZU LONG
  BSAC LONG
  BWEN LONG
  CAT LONG
  CCU LONG
  CF WATCH
DAILY CF WATCH
  CGW LONG
  CLB LONG
  CLH LONG
  CLI LONG
  CMTL LONG
  COP LONG
  CWEI WATCH
  CYH LONG
  DBB WATCH
  DBO WATCH
  DDD LONG
  DGP, Gold LONG
  DOV LONG
  DV WATCH
  DZK LONG
> ECH LONG
  EDC LONG
  EDU LONG
  EMES LONG
  EPD WATCH
  ERX LONG
  EWZ, Brazil LONG
  GDX LONG
  GLEN.L LONG
  GLRE LONG
  LIFE LONG
  LNG LONG
  MIDU LONG
  MLM LONG
  MNK SHORT
  MTL LONG
  NSM LONG
  NSR LONG
  OMER LONG
  OREX LONG
  PTM LONG
  RH LONG
  RIO LONG
  RS LONG
  RSX LONG
  RUSL LONG

Here are some of our favorites from this list:

CF is a LONG WATCH. Everything is in place. When COUNT turns up, we are LONG.

We like ECH. It is approaching long-term resistance @ 46.87. We will like it even more when it takes out this resistance.

Happy trading.

MJC, CGTS

Disclosure: I am/we are long UDOW.