Thursday, December 16, 2010

Reading International -- RDI -- Deleted

This morning I deleted Reading International (RDI) from the Barchart Van Meerten Speculative portfolio for negative price trends:

  • 60% Barchart short term technical sell signal
  • Trend Spotter (tm) sell signal
  • Trading below 20 and 50 day moving averages
  • Relative Strength Index 38.27% and dropping
Jim Van Meerten is an advisor to Marketocracy Capital Management who uses his model portfolios not only to manage their mutual funds but also their clients Separately Managed Accounts. You can read his blogs about those model portfolios and investing here and on Barchart Portfolio Blogs. Please leave a comment below or email JimVanMeerten@gmail.com.

Disclosure: Jim Van Meerten through Marketocracy Capital Management has an interest in the stocks mentioned in this blog.

1 comment:

  1. Appreciate your discipline to your particular strategy, though I believe the fundamentals of RDI make it a compelling Risk/Reward situation. Furthermore, the impending sale of RDI's most valuable undeveloped land parcel, 51-acre Burwood Square in Melbourne Australia, (see http://seekingalpha.com/article/227729-just-one-stock-come-for-the-real-estate-stick-around-for-popcorn-and-flicks ) risks making a sale of RDI at this time based on technical stock price analysis a huge risk of missing an event-driven pop in the stock price. The technicals are going to look quite good again but after the deal announcement and substantial price move already takes place.

    Disclosure - Long RDI and RDIB; may buy/sell these securities at any time.

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