Spydertrader's Jack Hershey Equities Trading Journal III

I am still ploughing through the journals, but I understand that spyder decided that ranking the stocks into 3 lists was not necessary. He took the 100 or so stocks and then culled them directly, as this gave more trade candidates. So maybe you don't have to create the three lists at all.

Suss

 

The problem, as far as I can see, is that stocktables doesn't give you float or EPS, so you have to check them manually! Thanks for the Telechart suggestion.

Suss

 

If you use stocktables, you don't need to check EPS you are already filtering for stocks with a high EPS rating.

 

MSN also has 'stock scouter' criteria, have you try it?

 

My solution to this is to get a large rs/eps list from stocktables into Excel. I use MSN deluxe to get a separate list of 200 shares matching the criteria for P, V, shares out (not float), eps and institutional ownership.

I then compare the 2 lists in Excel using the =countif(range, symbol) function - which tells you if a symbol appears in the other list (the range). This gets me 20 or 30 symbols.

Then I bulk in Clearstation to eyeball the cyclicality in the last 6 months. I take my shortlist and use Yahoo to see the inside ownership and the float and to cross check the MSN data, especially volume.

I also use Spyder's Wealth-Lab rank scan for each stock in turn but do not use it to eliminate otherwise "performing" stocks. (BTW is there a way to do a ranking in bulk?)

If a stock makes it through all this it goes into my Quotetracker for closer inspection.

It works really well and it is free.

 

You can have a high eps ranking and still have last fiscal eps negative.

 

Thanks for this observation. My understanding is that the stocktables EPS rank is partly historical in nature and it seems that negative EPS stocks can and do get on to the list. I would prefer to avoid such stocks if possible. If I do ignore negative EPS, I still have float to manually check. So it looks like Telechart might be the way forward...

Thanks
Suss

 

Correct. Not too far along in the Journal, I stopped creating three lists.

- Spydertrader

 

Yeah, Telechart will also filter for positive earnings. But that's for the full year.

Forgot about that one.

But I still say take the time to get your Initial Universe from Stocktables since it's more used.

 

Thanks for this Point. I don't yet know how to do a bulk ranking, save through writing a script for whichever software you're using. When you take your shortlist to Yahoo, do you call up a page for each stock on your shortlist (I assume Key Statistics) or is there some way to create a portfolio that shows float, inside ownership etc all at once?

Suss