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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 and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and... More
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Marketocracy capital management
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  • Trimmed A Few Stocks 0 comments
    Apr 18, 2013 9:46 AM | about stocks: HMA, CYH, FCF, OFG, CVX

    The Market as measured by the Value Line Index is down a bit. I trimmed a few stocks from the Barchart Van Meerten New High portfolio not because I wanted to raise some cash but because of sell signals triggered by each stock individually. My initial warning is when I lose 10% or the stock begins to trade below its 50 day moving average. The stocks trimmed were Health Management Associates (NYSE:HMA), Community Health Systems (NYSE:CYH), First Commonwealth Financial (NYSE:FCF), Oriental Financial (NYSE:OFG) and Chevron (NYSE:CVX). Please review the Barchart technical indicators and charts and see if you agree:

    Health Management Associates (HMA)

    (click to enlarge)

    Barchart technical indicators:

     

    • 40% Barchart short term technical sell signals
    • Trend Spotter sell signal
    • Below its 20 and 50 day moving averages
    • 11.91% off this month
    • 20.76% off its recent high
    • Relative strength Index 38.39%


    Community Health Systems (CYH)

    (click to enlarge)

    Barchart technical indicators:

     

    • 40% Barchart short term technical sell signals
    • Trend Spotter sell signal
    • Below its 20 and 50 day moving averages
    • 6.21% off this month
    • 14.24% off its recent high
    • Relative Strength Index 40.11%


    First Commonwealth Financial (FCF)

    (click to enlarge)

    Barchart technical indicators:

     

    • 80% Barchart short term technical sell signals
    • Trend Spotter sell signal
    • Below its 20, 50 and 100 day moving averages
    • 9.83% off this month
    • 9.95% off its recent high
    • Relative Strength Index 35.80%


    Oriental Financial (OFG)

    (click to enlarge)

    Barchart technical indicators:

    (click to enlarge)

    Barchart technical indicators:

     

    • 100% Barchart short term technical sell signals
    • Trend Spotter sell signal
    • Below its 20 and 50 day moving averages
    • 8.39% off for the month
    • 9.54% off its recent high
    • Relative Strength Index 39.34%


    Chevron (CVX)

    (click to enlarge)

    Barchart technical indicators:

     

    • 60% Barchart short term technical sell signals
    • Trend Spotter sell signal
    • Below its 20 and 50 day moving averages
    • 4.07% off for the month
    • 5.55% off its recent high
    • Relative Strength Index 36.95%


    I'll begin adding back positions when the Market starts to come back. My gauges will be the Barchart Market Momentum and the Value Line Index.

    Stocks: HMA, CYH, FCF, OFG, CVX
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