Dril-Quip sell signals
This morning I'm placing a sell order in on Dril-Quip (DRQ), deleting it from the Barchart Van Meerten New High portfolio. The key to a successful portfolio isn't so much buying good stocks but knowing when to cut your losses. There is no magic formula just a list of pros and cons and knowing when one outweighs the other.
My default chart on Barchart is the price vs, 20,50 & 100 daily moving average with the Trend Spotter (tm) on bottom. When I can't decide I switch the chart from a daily chart to an hourly chart and the decision is usually obvious. Click on these links and see what I mean.
DRQ -- Daily chart
DRQ -- Hourly chart
Here are my other reasons:
1 - 60% Barchart short term sell signal
2 - Closed yesterday below its 20 and 50 day moving average
3 - Observation of daily and hourly chart
4 - Relative Strength Index is 42.04% and tanking
5 - Lost 5.84% in the last 20 trading sessions
Jim Van Meerten is an advisor to Marketocracy Capital Managementwho uses his model portfolios not only to manage their mutual funds but also their clients Separately Managed Accounts. You can read his blogs about those model portfolios and investing here and on Barchart Portfolio Blogs. Please leave a comment below or emailJimVanMeerten@gmail.com.
Disclosure: Jim Van Meerten through Marketocracy Capital Management has an interest in the stocks mentioned in this blog.