PTI - Panti Computer runs out of stem
Selling Patni Computer Systems ( PTI ) from both Barchart portfolios. Sorry to see this one go. The reason it was in both portfolios is that it started out as a speculative trade but as the price came up past $10 it was added to the New High portfolio also. In total we we able to get a 222.76% return on this trade. That's what portfolio management is all about: Cut your losses but let your winners ride.
The stock needs to be juddered every day and when it runs out of steam you cut it loose. Here's where we are today:
1 - Down 5 straight day for a weekly loss of 9.55%
2 - Trading below it's 20, 50 & 100 Daily Moving Average
3 - 72% Barchart technical sell signal Trend Spotter (tm) sell signal
Jim Van Meerten is an investor who writes on investing here and on Barchart Portfolio Blogs. Please leave a comment below or email JimVanMeerten@gmail.com.
No position at the time of publication