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The stock selection process
I'd like to go through the process I use to select the stocks I add to my portfolio. First I look for the top ten stocks that are hitting new highs and use BarChart's stock screener for that. After I filter the stocks for other criteria and get my number one pick I go out on the Internet to sources I'm comfortable with to see if they agree with me. If they do then I'll add it to one of my portfolios. I'm not a contrarian, that's why my newsletter is called Financial Tides; I want to swim with the tide not against it. If I can't find a stock that makes it all the way through my screening process, I buy nothing that day. Let me go into detail on how this process works.
First I go to BarChart's 20 day new high -- new low list and sort for frequency. I only want the top 10 stocks that are trading at least 100K shares a day and have hit new highs more that 50% of the last 20 trading sessions. Next I take those 10 and see how they perform against the 13 technical analysis indicators that BarChart uses and eliminate all stocks not getting at least an 80% buy rating. I look to see if they have had positive price performance in the last 5 day to weed them down further. I then look at a chart that plots the price against the 20, 50 and 100 day moving averages to see if there is consistent price performance. I pick the one I like best and then research it.
I'll look at the news on Yahoo Finance, the analyst reports, the Wall Street Survivor check list, the Motely Fool CAPS ratings. I'm not looking for them to agree with me, I'm making sure they don't disagree with me. If I have a stock that I have chosen for recent technical price performance reasons that suddenly has a whole lot of negative press out there, I'd be a fool to think it will continue upward. I realize that the Wall Street analysts have a very poor record at finding winners but I also realize that if they turn out reports that a stock is a loser, then all their brokers will be calling their clients with sell recommendations. That stock should go down.
Remember, I don't recommend swimming against the tide. Tomorrow I'll go into more detail on Edwards Life Sciences and why I added it to my Wall Street Survivor portfolio.
Disclosure : I do not hold any positions in Edwards Life Sciences (EW) at the time of this publication
Jim Van Meerten is an investor who writes on financial matters here and on Financial Tides. Please leave a comment below at email FinancialTides@gmail.com
Chile is heating up
All 13 of BarChart's technical indicators say buy for a 100% buy rating. ECH has hit new highs in 9 of the last 20 trading sessions and is presently 5 for 5 in the last week. Its has had a 28.47 price appreciation in the last 65 days and isn't skipping a beat.
On other sites Mark's checklist on Wall Street Survivor has a Survivor Sentiment on 5/5 and on Motely Fool the all member rating is 88 to 2 with their All Stars rating it 26 to 1.
I'm adding this to my EFT portfolio on Marketocracy.
Recommendation: Buy IShares Chile ETF -- ECH around 52 with a protective stop loss no higher than 48.
Disclosure: I do not own ECH at the time of this publication.
Jim Van Meerten is an investor who write on financial matters here and on Financial Tides. Please make a comment below or email FinancialTides@gmail.com
Target electronic advertising is Acxiom's forte
The fundamentals on this company look good. Both Todd Van Fleet of First Analysis and Daniel Leben of Robert W. Baird & Co. give the stock high marks. The analysts consensus is that although there may be modest growth in revenue of 3.7% year over year a positive earnings growth of 38.8% plus a more generous P/E growth as the market recovers should show good price appreciation. There have also been several positive articles recently on BusinessWire to create more buzz.
The stock came up on my BarChart screener with 13 new highs in the last 20 trading sessions and it is 5 for 5 lately. 12 of 13 of BarChart's technical indicators rate it a 96% buy with the other indicator having a rising hold. There has been price appreciation of 40.35% in the last 65 days so it will be coming up on a lot of buy lists.
On Wall Street Survivor Mark's checklist has the Survivor Sentiment as 5/5 and the technicals 5/5 also.
I'm buying Acxiom Corp (ACXM) for my Wall Street Survivor portfolio at around 12.10 with a protective stop loss around 10.00
Disclosure: I do not have any positions in this stock at the time of publication
Jim Van Meerten is an investor who writes about financial matters here and on Financial Tides. Please leave a comment below or email FinancialTIdes@gmail.com
Model portfolio deletions
From the VMNHI -- SNWT -- San West Inc
From the VMSLO -- ICAD -- ICAD Inc
The follwoing stock was deleted from the short portfolio because it has been trading above it's 50 DMA:
VMSHT portfolio -- OHI -- Omega HealthCare
Jim Van Meerten is an investor who writes on financial matters here and on Financial Tides. Please leave a comment below or email FinancialTides@gmail.com
Disclosure: I hold no positions in these stocks
Is there gold in ETF's
DGL the Proshares double Gold ETF is just such a technical play. Gold has been rising and this ETF gives you leverage.
Right now DGL is within .33% of its recent high and has seen 4 new highs in the last 5 days and 6 new highs in the last 20. It's had an 18.41% price appreciation in the last 65 days.
BarChart's technical analysis indicators have a buy signal on 13 out of 13 indicators for a 100% buy signal. Over on Motely Fool the CAPS rating by their readers is 105 to 10 in favor of a further price increase.
Recommendation: If you think gold will go up and the dollar will continue to weaken then DGL the Proshres double Gold ETF is a buy at 40 with a protective stop loss no higher than 37.
Jim Van Meerten is an investor who writes on financial matters here and on Financial Tides. Please leave a comment below or email FinancialTides@gmail.com
Disclosure: I hold no positions in DGL at the time of this publication
Alnylam Pharma looks sick
Although the company sounds like its poised in the right place, administratively it's a mess. Administrative cost are out of control and the 2 acquisitions that analyst counted on are going badly. The only press the company has had recently are larger projected losses. The analyst are estimating a 10.9% revenue increase but an earnings per share shrinkage of 5.6%. 4 of the 9 analyst following this stock have lowered their EPS forecast in the last 30 days. Not good.
Barchart rates this stock a 96% sell with 12 of 13 technical indicators a sell and only 1 hold. The stock has had 16 new lows in the last 20 days and lost 23.5% of its price in the last 65 days. The chart is a disaster.
Recommendation : If you own ALNY sell it, if you don't, sell it short above 16 with a buy stop to cover at not more than 18.
Jim Van Meerten is an investor who writes on financial matters here and on Financial Tides. Please leave a comment below or email FinancialTides@gmail.com
Disclosure: I hold no position in ALNY at the time of this publication.