Time to drop KONG
Sometimes you have to delete a stock on technical factors alone and can't really wait until you know what is causing its decline. That condition is why I'm deleting Kongzhong (KONG) from the Barchart Van Meerten New High portfolio. The tape tell it all:
1 - 60% Barchart short term sell signal
2 - Trend Spotter sell signal
3 - Trading below its 20 and 50 day moving averages
4 - Dropped 23.26% off its recent high
5 - Relative Strength Index is 33.13% and dropping
Jim Van Meerten is an analyst for Marketocracy Capital Management. He shares his knowledge and experience from over 40 years of investing in stocks, mutual funds and ETFs onBarchart.com in his daily blog -- Barchart Portfolio Blogs.