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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis
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To: chester lee who wrote (2483)11/20/2000 1:14:19 AM
From: Q.  Read Replies (2) of 2506
 
I did a screen for stocks that are likely to suffer some tax-loss selling pressure.

Most importantly, my criteria were low RS and low % institutional ownership. I was looking for fallen stocks held mainly by individual investors, as these are the ones likely to get hit by tax-loss selling. I also limit myself to stocks with sufficient trading volume.

The lower the price of the stock, the better the opportunity. I turned up lots more stocks below $5 than above, so these lists are most useful to those who can short below 5. I avoided stocks below a buck because trading costs are often too high.

Firstly, by adding some extra criteria for negative cashflow and avoiding stocks with low multiples of PSR and p/b, I come up with the following:

stock price  % of float 
             owned by
             institutions
KERA  1.125   14%
CCSI  1.68     7%  (www.asensio.com has 1998 short sell report, short ratio is now low)
BLZN  2        0%  (has toxic conversions Dec 7 +)
SAFS  2.7      5%
SNRS  4       14%  (has options)
EVCI  5        9%
ASFT  5.5     36%  (has options)

quote.yahoo.com

Probably there are lots more good opportunities out there that can be found with different search tools and with different criteria. I produced these stocks using by hand-sorting the output of a couple of search tools (msn.com and tscn.com), and these tools use MarketGuide data which don't include many BB stocks. That's unfortunate because the opportunities are probably a lot better with the BB stocks, many of which have taken a huge beating this year and are held by virtually no institutions.
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