NEW YORK ( TheStreet) -- On July 3 we learned that the implementation of the employee mandate of the Affordable Care Act or Obamacare would be delayed until January 2015. The delay provision involved employers with more than 50 employees where health care coverage was mandated to begin in January 2014, or the company would face paying a fine based upon the number of employees.On July 9 I wrote Obamacare Delay Is Good for Health Stocks and since then the seven stocks I profiled moved sideways to up with gains between 2.4% and 25.7%. Registrations began Tuesday the health care exchanges which take effect in January 2014. Folks who are already covered under existing health plans should be able to keep their current plans, as long as the employers keep plans in place, which is no sure thing. Many companies have chosen to convert full time employees to part time by cutting hours worked to 29 hours. These employees must eventually register on the health care exchanges. ValuEngine shows that the medical industry is 23.5% overvalued with the health maintenance industry 21.2% overvalued. I continue to give the medical sector an equal-weight asset allocation rating. On July 8 there was only one buy rated stock among the seven health maintenance organizations I chose to profile for buy-and-trade investors. Today two other stocks among these seven have buy ratings. All are overvalued by 6.1% to 40.6% and have posted solid gains of 27.8% to 76.7% over the last 12 months. All are above their 200-day SMAs, which reflects the risk of reversion to the mean.