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
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After enjoying a smooth rise in stock prices since May, investors are about to be hit with another bout of volatility.
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