Beat the market - 3 new picks
On the Top Stock Blog we're having a little contest to show how our stock recommendations perform not only against the market but a little friendly competition against each other. We'll enter our picks on Wall Street Survivor and they will keep the score.
My picks will use the same methodology I use on the New High Fund I've had on Marketocracy for quite some time. I use BarChart's new high list of stocks trading over 100.000 shares a day, sort for frequency, hopefully weed out ETFs and closed end funds, choose only stocks selling above $5. I then take the top 10 or 15 and only consider stocks that have made at least 10 new highs in the last 20 trading sessions. If I can't find any that have hit new highs at least 50% of the days I make no additions that day. The stocks then are reviewed to see if the short term technical analysis indicators are at least 80% BUY. Last I review the chart to look for any inconsistencies. Here are my picks for the day.
Samina-Sci Corp (SANM) -- an electronic manufacturing services company. The stock is an 80% short term BUY with 12 of 13 TA indicators showing BUY and 1 HOLD. 15 new highs in the last 20 trading sessions and 5 for 5 recently. Price appreciation in the last 65 trading sessions was 226%. Recommendation: BUY around 9 with a stop loss at 7.
Sierra Wireless (SWIR) -- A leading provider of wireless data communications products. The stock is an 80% short term BUY with 12 of 13 TA indicators BUY and 1 HOLD. 14 new highs in the last 20 trading sessions and 5 for 5 recently. Price appreciation in the last 65 days was 110%. Recommendation: BUY around 10.75 with a stop loss at 8.
Targacet Inc (TRGT) -- A clinical-stage biophramaceutical firm that discovers and develops drugs used in treating central nervous system disorders. The stock is a 100% short term BUY with 13 of 13 TA indicators saying BUY. 14 new highs in the last 20 sessions and 5 for 5 recently. Price appreciation in the last 65 session was 890%.
Jim Van Meerten is a full time investor and blogs on Financial Tides among other sites. Please offer comments below or email to FinancialTides@gmail.com
Disclosure: I hold no physical positions in any of the stocks I blog about. All recommendations are held in one of my 6 Marketocracy portfolios or my Wall Street Survivor portfolio for accountability.