stock screening - something i'm confused about

gabe · Apr 16, 2007

although I'm no expert (yet!!), I know I am getting better at analyzing these stocks. recognizing patterns is becoming 2nd nature and I realize theres a little more to it than that, but there is one thing I'm not quite sure of.

How do you guys find these stocks? do you just pull up a list of some particular industry or exchange and start looking at charts?? I think I've seen people mention they use some programs to run through a bunch of stocks and ID the ones that might be making moves soon. I am pretty computer literate but I have no idea how to do anything like.

Is it something obvious I'm not seeing.

Any help is appreciated,

gabe

RiverRat · Apr 16, 2007

IBD industry groups, high volume stocks for the day and ibd relative strength are some ways to get a list going.

dsq · Apr 16, 2007

if your daytrading you can get long or short any stock...
If you wanna buy and hold more than a day then its important to choose the best stocks in the best performing industries.For example:xom,rig in oil....and to also stay away from weak sectors like banking: c,bac,wm-altho that may have changed today.

I really only like to play the bigger market cap and biggest volume stocks on nyse.In fact i trade long and short mostly DOW stocks.I know what i am dealing with with DOW 30 stocks.
I hate surprises and small caps and nasdaq stocks can tuirn 180 deg in no time and catch you with your pants down.
I just had too many heart attacks dealing with smaller stocks and nasdaq and ive outgrown the rollercoaster ride they provide.

But when your young nasdaq is fun and wild.

I am more conservative now and like buying and shorting intraday, stocks like :vz,t,ge,c,pfe,mrk,ko.
I try to scalp 10-20 cents and then get the F out!

You should maybe stick to the top 10 dollar volume leaders on nyse and nasdaq like msft,c aapl,intc,csco,ge,vz,t,mrk,aa,dd.
Study their daily chart patterns.Look to recognize their support and resistance points.Do some paper trades.MAke sure you get a good feel and see if your predictions about their future price movement are validated.You gotta get agood 'feel' before you actually start palying with cash.

pravin_s · Apr 18, 2007

Quote from RiverRat:

IBD industry groups, high volume stocks for the day and ibd relative strength are some ways to get a list going.

Do you mean
Buy when Price going down on less volume (possible rumour?)
Sell when Price going down on high volume (possible news?)

RiverRat · Apr 18, 2007

Quote from pravin_s:

Do you mean
Buy when Price going down on less volume (possible rumour?)
Sell when Price going down on high volume (possible news?)

I have had good success riding the strength of stocks trading up on heavy volume. I get a watch list of at least 10, do some research (RS, chart, etc) and buy 3-6 stocks.

It can work out pretty well with a decent return over the next few weeks/months. I usually hold a stock for around a month to years.

primemod3 · Apr 18, 2007

If you're serious about screening, you could use something like Neovest, although you have to pay a monthly fee to use the application.

Otherwise, this free stock screener may be helpful, although the prices it uses are delayed by 15 minutes.

aaronk321 · Apr 18, 2007

what are your stops?

Quote from RiverRat:

I have had good success riding the strength of stocks trading up on heavy volume. I get a watch list of at least 10, do some research (RS, chart, etc) and buy 3-6 stocks.

It can work out pretty well with a decent return over the next few weeks/months. I usually hold a stock for around a month to years.

Riskmanager · Apr 19, 2007

Quote from gabe:

although I'm no expert (yet!!), I know I am getting better at analyzing these stocks. recognizing patterns is becoming 2nd nature and I realize theres a little more to it than that, but there is one thing I'm not quite sure of.

How do you guys find these stocks? do you just pull up a list of some particular industry or exchange and start looking at charts?? I think I've seen people mention they use some programs to run through a bunch of stocks and ID the ones that might be making moves soon. I am pretty computer literate but I have no idea how to do anything like.

Is it something obvious I'm not seeing.

Any help is appreciated,

gabe

http://thepatternsite.com

all you need to know and have...

cashmoney69 · Apr 19, 2007

Quote from gabe:

How do you guys find these stocks? do you just pull up a list of some particular industry or exchange and start looking at charts?? I think I've seen people mention they use some programs to run through a bunch of stocks and ID the ones that might be making moves soon.
gabe

Even with a good screening program, you cant get around looking at the charts. Out of a handfull of stocks, only a few make it into my portfolio because of the charts.

A screener only gives you the numbers... breakouts, tops/bottoms..and other important visual information is left out, and if you use indicators, you're going to need to see charts anyway to spot entry/exit signals.

Trade-ideas.com is the only screener I know of that possibly has some kind of pattern recognition built it.

cm

Tums · Apr 19, 2007

Quote from gabe:

although I'm no expert (yet!!), I know I am getting better at analyzing these stocks. recognizing patterns is becoming 2nd nature and I realize theres a little more to it than that, but there is one thing I'm not quite sure of.

How do you guys find these stocks? do you just pull up a list of some particular industry or exchange and start looking at charts?? I think I've seen people mention they use some programs to run through a bunch of stocks and ID the ones that might be making moves soon. I am pretty computer literate but I have no idea how to do anything like.

Is it something obvious I'm not seeing.

Any help is appreciated,

gabe

check out this thread. It might shed some light.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=83605