Bottom Fishing

Discussion in 'Trading' started by hoodooman, Feb 15, 2009.

  1. I don't normally swing trade anymore but lately I'm beginning to reconsiderate it again.

    My problem is that I have very little faith that a stock that once was a high flier and is now in a ditch will ever recover to the point that it was a worthwhile hold.

    I have no access to a scanning program that will scan for stocks that were (for example) 50 to 100 bucks per share and then fallen to 1 or 2 dollars per share and now recovered to say 25 dollars per share.

    So the question is can anyone provide me the name of some stocks that have recovered in the past or perhaps a free scanning program that I can use to find them myself.

    All replies are appreciated.
  2. As for a scan, you gotta do that work yourself. Learn the stocks in each sector, find the sectors that were crushed, and you'll find what you're looking for. Coal (KOL), Oil Services (OIH), Energy(XLE), and most ag stocks, MON,POT,AGU, etc....they all got killed when oil rolled over. Most have already had good bounces, so you have to pick and choose carefully. Buy at support with a clearly defined stop. Just remember, a gap down below your stop is gonna hurt.
    If a stock was $100, and went to $2, then back to $25...I'd leave it alone. The closest I can think of is DRYS, absolutley crazy chart. You get it wrong, the pain will be extreme.
    If you're gonna swing, first thing you need is a good read on the overall mkt, good luck with that!!!
    And remember, just because its cheap doesn't make it a good buy...and just because its expensive, its not necessarily a good short.
    My advice..if you wanna swing, do it the chart, take your entry, hold it all day if u don't get stopped out, but when 4:00 comes,,,,,,be flat. Trust me , you'll sleep better. Just my 2 cents.
  3. Sorry but I should have explained myself better because you missed my point entirely.

    I want stocks that were up and then went down a lot and are now moving much higher just to see if they actually can do that.

    There is no problem with finding stocks like drys but thanks for the reply.

  4. Stockfetcher. The "free" access will find what you are looking for if it occurred in the last 4 months. Post to the will find the scan there.
  5. Thanks I'll check it out again. I just deleted it from my favorites.:D