Thanks for telling me your methods. I rank stock fundamentals based on s&p historical financial data (probably one month old), it may not be up to date. Rating is simply like this. For example, the stock having the best eps gets 1.0, the worst gets 0.0, others get a relative number between 1 and 0. Each stock is compared with all stocks, s&p members, its industry respectively. Consider as many as fundament numbers such as rev growth, gross margin, even per employee data, etc. Add all scores together with weighted adjustment to individual values. Each stock gets a final score. On my stock fundamental ranking list, XOMA BDCO MVIS ELC JMAR WGAT VYYO VLNC and LMLP are the worst 10. TAXI, DRL, MFA, OSG, RWT, PLFE, TMA, FMT, AC and ANH are the best 10. As a swing trading, I prefer technicals as you do. I agree that fundamentals is not as important as patterns for short-term swing trading. Here is one on my hot list. CBK broke out on heavy vol a week ago. It shows up on my EOD scan. Upgraded to STRONG BUY by MarketEdge.com on 4/11. Do you buy? I will buy if it corrects more on Monday. Good luck. Thanks, AqTrader
I like the CERN setup. Look like a good resistance break. Might join you on this one. In terms of you strategy are you preferential to wide trailing stops or fixed profit and loss targets? I tend to give my swing positions very wide trailing stops and take profits when I see a technical turning point. Mike
I do the same thing. Wide stops at first.. and then i use discretion to exit. I always have a wide fixed stop at first.. but never use a fixed target. I always scale out of my positions. I use the overall market as a clue as to how quick I exit positions and how aggressive of a position size. Normally, I am a big fan of scaling up into trades. SO if market heats up and starts a huge rally and CERn lifts off.. i will be scaling up. -MIKE
Long 300 EFD @ 22.80... Stock is pretty strong.. and its in process of building base. Could be a little longer than normal hold on this one. VOlume is pretty strong the past few days.
Hey Mike, Great start to your journal. Look forward to read it in the future. With your method, what annual return are you looking for ? Do you use margin ? Cheers Gekko
I dont look for any annual return.. what ever the market gives me I take... I take it day by day .. week by week. I only use margin when almost all of my positions are doing very well and the market as a whole is acting very well. Right now.. I am keeping things very light.
Nice chart and thanks for the idea. I just pulled the monthly, and it looks, to me anyway, that it's set up into an attractive inverted h&S setup. By the way, good luck with your journal.