Some pharmas not performing

I'm dropping NVS and TRGT from my Wall Street Survivor portfolio

By Jim Van Meerten Jan 5, 2010 12:45PM
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.

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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