Some pharmas not performing
I'm dropping NVS and TRGT from my Wall Street Survivor portfolio
I'm selling Novartis (NVS). The stock is trading below its 50-day moving average on dilution from an acquisition of more stock in Alcon (ACL).
I'm also selling Targacept (TRGT). The stock is trading below its 50-day moving average, and 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
Copyright © 2014 Microsoft. All rights reserved.
The S&P 500 manages to keep a deathgrip on 2,000, but key areas of the market are already buckling under pressure.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.