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Harold-ditto.
Steve
--- In Metastockusers@xxxx, "anilkeshavji" <anilkeshavji@xxxx> wrote:
> Harold
>
> ...very interesting reply...thanks for taking time for write up...
>
> anil
>
> --- In Metastockusers@xxxx, "hcour" <hcourtney@xxxx> wrote:
> > Steve,
> >
> > Yeah, that's pretty much the $100,000 question. There are probably
> as
> > many different methods as there are traders. One thing you might
> > consider first is your "universe of stocks". Many traders prefer
> high
> > liquidity. For instance I like to have at least 100K average daily
> > vol (50d), some prefer 300K, some 500K or even more. I prefer
> stocks
> > over $10, preferably $20, but others trade penny stocks and do
> fine.
> > You might consider professional sponsorship. Stocks tend to move
> > better if the pro's are buying. You could limit yourself to stocks
> in
> > the S&P 500, Naz 100, R2K, semi's, just tech, whatever.
> >
> > Another way is to combine fundamental and technical analysis. Find
> > sectors/groups w/strong fundamentals that haven't yet taken off
> and
> > then apply TA to get a good entry point. MultexInvestor.com has
> some
> > excellent screens for these kind of plays. William O'Neil's
> CANSLIM
> > strategy also utilizes the FA/TA combo.
> >
> > Once you've setup your universe of stocks there are all kinds of
> > scans. I'm sure lots of members here have there own favs. A very
> > popular method w/a lot of traders and a good starting point is
> simple
> > Relative Strength. You might start w/a scan of the S&P groups for
> > instance, to find those that are outperforming the rest of the
> > market. Then find the best stocks in those groups or those that
> look
> > to have future potential which may be late-bloomers. Another way,
> or
> > in conjunction w/RS, is to find low-volatility situations using
> > Historical Volatility, Bollinger Bands, or Narrow-Range Bars, ect.
> > Explosive moves often follow low-volatility. Others use MACD
> > crossovers, RSI, blah blah blah. It goes on forever...
> >
> > I'm currently experimenting w/one of Martin Pring's scans that may
> be
> > promising. First, I copied all of the TC2K groups into MS, then
> > filtered out all stocks under 100K and $3. I then made composites
> of
> > the groups, of which there are about 240 in about 40 sectors. I
> run a
> > momentum scan on all the groups to find those that are just
> starting
> > to gather steam (where the indicator has crossed up over its 10d
> ma
> > w/both lines trending up but still under 0.). Then I scan those
> > groups for ones in which the momentum of the RS is just starting
> to
> > gather steam (same criteria). The theory here is that, unlike RS
> > scans where the group/stock may have already shot its wad, this
> scan
> > will find bottom candidates w/good solid upside potential.
> >
> > I ran the scan the first time this weekend. These are the most
> > interesting of the results. Charts are linked.
> >
> > Auto - Major Manufacturers
> > Auto - Auto Parts
> > Chemicals - Specialty
> > Diverse Services - Rental & Leasing Services
> > Health Services - Long-Term Care Facilities
> > Leisure - Resorts & Casinos
> > Manufacturing - Metal Fabrication
> > Retail - Dept. Stores
> > Wholesale - Auto Parts
> >
> > http://photos.yahoo.com/bc/hcour/vwp?.dir=/&.dnm=1MoMo+Groups+11-
> 15-
> > 02.GIF&.src=ph&.view=t&.hires=t
> >
> > http://photos.yahoo.com/bc/hcour/vwp?.dir=/&.dnm=2MoMo+Groups+11-
> 15-
> > 02.GIF&.src=ph&.view=t&.hires=t
> >
> > http://photos.yahoo.com/bc/hcour/vwp?.dir=/&.dnm=ManMetFab+MoMo+11-
> > 15-02.GIF&.src=ph&.view=t&.hires=t
> >
> > Thses are short-term charts and show the groups in relation to
> their
> > July lows. The first 2 charts show all the groups except Metal
> Fab.
> > The 3rd chart shows the Metal Fab group and the 5 stocks that make
> up
> > the group.
> >
> > Of course, these composites are specific to my filtering criteria.
> So
> > someone else's Metal Fab group may not be in sync w/mine. This is
> > just an example of the method.
> >
> > Harold
> >
> >
> >
> >
> >
> > --- In Metastockusers@xxxx, "Steve" <steveftw@xxxx> wrote:
> > > Would anyone have any recommendations for specific indicators or
> > > studies for the potential of a stock? I've found the hard way
> that
> > > picking the right entry point is one thing - but finding the
> stocks
> > > with the potential for substantial gains is quite another (I
> > > know-stating the obvious).
> > >
> > > Thanks
> > >
> > > Steve in Ft. Worth
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