Just a quick note to let you know of a couple of sell orders in my Wall Street Survivor portfolio. I'll wait till the trades clear and maybe add back tomorrow or the next day.
Selling Novartis -- NVS -- stock is trading below its 50 day moving average on dilution from an acquisition of more stock in Alcon -- ACL.
Selling Targacept Inc -- TRGT -- stock trading below its 50 day moving average -- stock is just not participating in the rally.
Please note that I'm kind of strict on when to cut a stock loose. It needs to maintain a price above its 50 DMA. If it can't, I'll sell and leave it to others to determine why it is an under performer.
Disclosure : I do not hold positions in NVS or TRGT at the time of publication
Jim Van Meerten is an investor who write on financial matters here and on Financial Tides. Please leave a comment below or email JimVanMeerten@gmail.com
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