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Jim Van Meerten
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Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and attended... More
My company:
Marketocracy Capital Management
My blog:
Barchart Portfolio Blogs
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  • Gentex Buy Signals

    Today I added Gentex (GNTX) to the Barchart Van Meerten New High portfolio for positive momentum:

    (click to enlarge)

    Barchart technical indicators:

     

    • 96% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 20 new highs and up 22.67% in the last month
    • Relative Strength Index 84.43%
    • Barchart computes a technical support level at 25.01
    • Recently traded at 25.32 with a 50 day moving average of 21.62
    Tags: GNTX
    May 21 2:00 PM | Link | Comment!
  • Is The Phoenix Company Too Risky?

    The Chart of the Day is The Phoenix Companies (PNX). It seems on the surface to have some pretty good technical indicators buy I want you to read them all so you can see when a stock seems just too good to be true.

    It is a provider of wealth management products and services offered through a variety of select advisors and financial services firms to serve the accumulation, preservation and transfer needs of the affluent and high net worth market, businesses and institutions. The company refers to its products and services together as its wealth management solutions. The company offers a broad range of life insurance, variable annuity and investment management solutions through a variety of distributors.

    (click to enlarge)

    Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

    Barchart technical indicators:

    • 100% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 20 new highs and up 51.07% in the last month
    • Relative Strength Index 89.87%
    • Barchart computes a technical support level at 38.32
    • Recently traded at 40.79 with a 50 day moving average of 30.12


    Fundamental factors:

     

    • Market Cap - $236.58 million
    • P/E 6.68
    • Revenue predicted to decrease 18.50% this year and decline another 6.00% next year
    • Earnings are estimated to shrink 212.20% this year but turn around and increase 214.60% next year and continue to increase by 15.00% annually for the next 5 years
    • Wall Street analysts issued 1 hold and 1 sell report
    • Financial Strength C

    Summary: Although the stock is on the new high you have to look beyond the chart and look for red flags. The stock shot up by 51.07% in the last month and has a Relative Strength Index approaching 90%. Too much, too fast. No analysts have a buy recommendation and the Financial Strength in only a C. Revenue has a negative trend. I hope you look at all the signals and decide this stock just has too much risk and probably not enough upside potential. Always look at all the numbers before you buy.

    Tags: PNX
    May 20 6:11 PM | Link | Comment!
  • Give ETFs Some Consideration

    I've gotten some questions about using the Barchart New High List to find Exchange Traded Funds (ETFs) that have as good a momentum as stocks. Today I used the ETF column in the New High List and then sorted them for frequency. Then I used to Flipchart feature to go through the sorted list to find charts I think reflect consistent momentum. The list includes China Technology ETF (CQQQ), S & P Technology North America IShares (IGM), Fidelity NASDAQ Composite Tracking ETF (ONEQ), KLDS 400 Social Index IShares (DSI) and Vanguard Growth ETF(VUG):

    China Technology ETF (CQQQ)

    (click to enlarge)

    Barchart technical indicators:

     

    • 88% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above it's 20, 50 and 100 day moving averages
    • 20 new highs and up 19.48% in the last month
    • Relative Strength Index 84.70%
    • Barchart computes a technical support level at 26.01
    • Recently traded at 26.93 with a 50 day moving average of 23.61


    S & P Technology North American IShares (IGM)

    (click to enlarge)

    Barchart technical indicators:

     

    • 96% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 19 new highs and up 11.11% in the last month
    • Relative Strength Index 74.73%
    • Barchart computes a technical support level at 76.15
    • Recently traded at 77.11 with a 50 day moving average of 72.72


    Fidelity NASDAQ Composite Tracking ETF (ONEQ)

    (click to enlarge)

     

    • 96% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 19 new highs and up 9.51% in the last month
    • Relative Strength Index 76.00%
    • Barchart computes a technical support level at 136.78
    • Recently traded at 137.99 with a 50 day moving average of 129.72


    KLDS 400 Social Index IShares (DSI)

    (click to enlarge)

    Barchart technical indicators:

     

    • 96% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 19 new highs and up 7.45% in the last month
    • Relative Strength Index 79.08%
    • Barchart computes a technical support level at 61.85
    • Recently traded at 62.33 with a 50 day moving average of 58.86


    Vanguard Growth ETF (VUG)

    (click to enlarge)

    Barchart technical indicators:

     

    • 96% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 18 new highs and up 7.76% in the last month
    • Relative Strength Index 70.46%
    • Barchart computes a technical support level at 81.65
    • Recently traded at 82.26 with a 50 day moving average of 78.23
    Tags: CQQQ, IGM, ONEQ, DSI, VUG, ETF
    May 20 5:13 PM | Link | Comment!
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  • $WCN - 96% Barchart technical buy signals - 8 new highs and up 12.95% in the last month - Relative Strength Index 73.90%
    about 16 hours ago
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    about 16 hours ago
  • $BYI - 96% Barchart technical buy signals - 4 new highs and up 13.85% in the last month - Relative Strength Index 69.26%
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