fstrader, What program/site are you using to screen your picks, i ask this because im in the process of finding a site that offers this service. Thanks.
I use a charting software called IQChart. It provides end of day screening and real-time charting. It costs like $39 per month, but there is a one month free trial. www.iqchart.com
I try to isolate stocks that are beggining a move but are not too far into it yet. I use basic technical indicators like stochastics, macd, relative strength volatility, (and a few other things). That (the scan) is the easy part. I'll then spend a few hours, on narrowing the stocks down from there. Trying to verify that the upturn looks as good on the weekly and monthly charts as it does on the daily. For example, a stock may look good on the daily chart, but horrible on the weekly chart. In a few days time, it will be a better test of how I am doing, since alot of the stocks will have had time to reach their stops by then.
My picks for Thursday, Sep 22, 2005: The format is (Last Close/Stop/Tentative Entry). LONGS TECH (57.94/53.30/57.71), PVX (12.14/11.45/12.02), OII (52.02/45.83/50.76), DESC (7.49/6.10/7.27), MTRX (8.10/6.32/7.80) SHORTS VNT (14.0/15.33/14.25), PMCS (8.70/9.23/8.75), TTWO (22.05/24.35/22.18), QNTA (6.02/6.70/6.17) I have a correction to make. BRY did not meet the 4% goal the first day. So it is still on the list. CCJ was not one that I included on the list, but I reported it met the 4% goal. So the record is 9 wins (not 11) and 2 losses. I have 20 longs and 2 shorts. And with tomorrow's picks, that will make it 25 longs and 6 shorts, for a total of 31.
Results as of Thu, Sep 22 Of the 31 stocks, 3 met, or exceeded the 4% goal. None were stopped out. The format is (max gain, days held): VNT (+5.5%, 1) QNTA (+5.8%, 1) HOC (+4.3%, 3) So far, winners = 12 losers = 2 Percent = .857 28 stocks are still being watched.
My picks for Friday, Sep 23, 2005: The format is (Last Close/Stop/Tentative Entry). LONGS CBI (31.0/28.11/30.71), LII (26.09/23.85/25.42), AEZ (6.70/5.33/6.46), MPET (2.71/2.24/2.69), ROS (15.60/13.54/15.4) SHORTS NFLD (12.95/13.85/13.02), DSCO (6.28/7.98/6.33), XPRSA (11.65/13.23/11.90), APSG (18.45/19.91/18.49) 37 stocks are being watched. In the future, I think I will stop adding so many until I have more that meet the goal or stop loss.
I appreciate your comments coolweb. Results as of Fri, Sep 23 Of the 37 stocks, 3 met, or exceeded the 4% goal. None were stopped out. The format is (max gain, days held): AEZ (+6.3%, 1) KONG (+14.5%, 3) FWLT (+5.9%, 4) So far, winners = 15 losers = 2 Percent = .88 34 stocks are still being watched. As I mentioned last post, I probably will stop adding stocks until the watched count declines back below 30, unless I find something I really like.
On second thought, today won't be the day I skip. I'm just seeing too many stocks with nice bullish setups. My picks for Monday, Sep 26, 2005: The format is (Last Close/Stop/Tentative Entry). LONGS FAL (25.63/22.30/25.20), TLAB (9.84/9.04/9.74), HOMS (4.13/3.58/4.12), GB (26.86/23.14/26.52), PDFS (17.76/15.30/17.60), NHRX (7.95/6.54/7.77), EFJI (9.65/8.36/9.47), NTGR (24.32/21.86/24.11), USIH (13.10/11.84/12.94) SHORTS None With the above additions, 43 stocks are being watched.