Richard,
An excellent suggestion, I believe what you say is true. Can you tell me, where can you readily obtain the float information? That would be smaller than shares outstanding - just the publicly traded shares we're interested in here, right?
I would like to run this number routinely on every stock that I trade - I sure I'll find a strong correlation to the stocks that I like to trade, the ones that move well.
Other related filtering criteria: Average True Range (ATR) in the stock (kind of another way of finding these - just the average heigth of the bar on the day chart), Volume filters (also related), and (once you narrow them down) look at the 5min chart+Level II, see how they trade.
Also, ADX is an excellent screening tool to find high-ATR stocks that are trending. A little slow to kick in, but if you're searching a large database, it's an excellent tool. Tradehard.com (no affiliation) now has an interactive ADX-search tool, so you can now do this on their website.
Weekend stuff, which pays off on the weekdays!
Good trading, -Steve |
