Though, if possible, I would rather not start another journal, in trying to breach this subject by posting to an established thread, I ended up parking it where I guess it did not fit. So another journal it is, I suppose... My goal is to avoid FINRA's pattern day trader rule for U.S. citizens by devising a means of picking stocks I can purchase each day at the end of the New York session that will hopefully explode the next day so I can unload them immediately for a 3%, 5%, or even 10% return (or more). This journal will help me detail my progress (or lack thereof) so that I might go about this more systematically than I would otherwise. Given the nature of the thread, its primary function will be to maintain a record of my wins, losses, personal thoughts and anything else related to the above; and not necessarily to do a lot of interacting. I'm going to start with a stock screen I came up with in 2010 and see if I can improve on it. (Having spent 2011 to 2019 devising a system for day trading foreign currency pairs, I'm curious to see if insights I gained there will be useful with respect to what I was doing previously with equities.) On Friday, my filter gave me CHAP, AAOI and NCI. Only one of my choices came through, but if the percent day change of my winners should continue to far outweigh the total debit from my losers, this will not be a problem. What I want to do now is evaluate the three of them to determine if there was anything special about Chaparral Energy Inc. that might have hinted at its performance today, and if so, try to incorporate that difference when conducting another screen today.
Modifying my stock screen to reflect what I saw when evaluating Chaparral Energy gave me six results. If I put the ones whose volume suggested bullish possibilities at the front of the list, I get: ESI, IFF, ORBC, CME, KO, and CROX. (CHAP is still on the list as well.)
Just look at the entire front page of ET... everybody is looking for the free lunch that doesn't exist. gotta figure out where my pro boys are having the feast dinner, and join the party there.
I want to see what happens with these stocks chosen based on volume: COLD, PUMP, GDDY, NOMD, CVNA, WHD, CWK, NEW, APY, BKI and TALO This list was generated by a screen I saved from before that I liked, Screen #44, so I want to see how these stocks do as well: INFY, WCG, GOL, CBP and EBR But this list came from a screen that is brand new, so I have no idea what to expect: BHGE, TAL, BAX, CRC, KEG, WTI, EC, IQV, WAT, JKS, PKI, CIB, GKOS and DRQ
NCI was back on my list yesterday and is currently up 1.17%, so it might make sense to hold on to stocks that have not yet been filtered out by a given screen (as was the case with AAOI). CHAP is presently up another 15.77%, so I might not want to immediately sell equities that experience a big gain the next day. (I'll have to see how many of them suffer a big fall the day after.) I was not impressed by any of my new ideas, but my old "blast from the past" looks to still be the real deal, returning stocks that are, at this time (approximately 2 hours after the opening bell) up anywhere from 1.53% to 3.61%.
Stock Screen #1: BITA, FIZZ Stock Screen #44 with positive percent day change AND big volume: ABT, NRG, NVO, SNN, EBR, NNN, SAIL Stock Screen #44 with positive percent day change: DOC, GOL, BOX, OGE Stock Screen #44 with negative percent day change: SQ, PYX, MIC
The only consistent way in finding winning stocks is insider trading, it seems. Hiring some network consultants who hook you up with company insiders that tell you what's going on in the company ahead of everyone else. The entire wall street does it apparently.