Hmmmm? This filter might be useful if one were looking for stocks to short.
Finding a Consistent Way to Pick Winning Stocks
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Only INGN is managing to defy this somewhat gloomy day in the markets, though I will have to check in at the end of the day to see if ABMD manages to climb out of negative territory, which it looks like it might be attempting to do. If it does, today will add to the respect I give what I regard as my best stock filter (though I have to admit, CRCM is way down). Either way, I can go ahead and delete my new idea in that the stocks it picked are doing no better than the major indices.
Wall Street didn't have such a great day today:
Neither did the stocks returned by my favorite filter, though the performance of the overall market is no excuse. However, two of the stocks picked by Screen #44 closed in positive territory. The only one that did not was an ADR, which I usually try avoiding anyway...
However, to my surprise, the new idea I wanted to evaluate today appears to be worth another look. Even with today's overall bearish sentiment, two of these equities came close to managing a 3% day change and over half of them managed to avoid closing in the red. Even the two that fell did not fall all that hard, so perhaps I spoke to soon in planning to delete the corresponding filter.
In fact, had I timed things right, I could have sold all six of these assets above yesterday's close (or at least very close to it).
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Yesterday's new screen returned too many stocks today (18), so I'm hoping I will be able to note something given their performances tomorrow that will enable me to narrow down the list next time. Those highlighted this time were...
MAS, DBD, LEN, FTCH, IPOA, PUMP, ABR, SC, NVTA, AMP, CRI, TRLA, NOMD, CNI, HDB, VEEV, AWI and BOOT, which was also on the list yesterday (so was HDB).
MAS, DBD, LEN, FTCH, IPOA, PUMP, ABR, SC, NVTA, AMP, CRI, TRLA, NOMD, CNI, HDB, VEEV, AWI and BOOT, which was also on the list yesterday (so was HDB).
I was curious to see if BOOT and HDB would continued climbing today. BOOT did so, but HDB did not. Given that the overall market is doing okay today, so are most of the above equities. It looks like I can narrow down the list next time by picking those stocks that took a significant hit within the last four to five days, since those are the ones with the biggest gains today. In fact, DBD is presently up a whopping 12.28%.
I'll have to check back to see where all of these assets are at the end of the session.
This new filter highlighted 96 equities at Friday's close, so I needed to use an additional criteria to narrow them down to 14. From there, I picked the ones that looked like the had the best structure to climb on Monday. They were: MAS, FTV, USA, INT, NWE, and CAG.
This new filter highlighted 96 equities at Friday's close, so I needed to use an additional criterion to narrow them down to 14. From there, I picked the ones that looked like they had the best structure to climb on Monday. They were: MAS, FTV, USA, INT, NWE and CAG.
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Only one of the above equities bucked today's red trend, so I looked for a screen that would find stocks that were somehow in the black this morning and came up with one that returned NTNX, CI, BGS and one stock that dropped. I will therefore run this same filter at the end of the day and see what happens tomorrow with the stocks it highlights.