Trend Setters and Range Riders Message Board

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Strategies & Market Trends : Trend Setters and Range Riders

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To: SusieQ1065 who wrote (4838)	5/5/2001 1:34:21 PM
From: SusieQ1065	Read Replies (3) of 5732

Scan for Momentum Stocks that are not Overbought Investors have clearly been jumping into Nasdaq stocks, particularly tech stocks, over the past several weeks as perception that a bottoming of earnings has occurred. This has resulted in many stocks on the tech-heavy index to have shot up well into overbought territory. Though these stocks may still have upside left in their short-term trends, there are still many others with upside momentum that have yet to enter into overbought territory. Momentum Nasdaq Stocks That Are Not Overbought is a search strategy that identifies such stocks. The strategy accomplishes this by screening for stocks with a high momentum ranking and a Wilder RSI score that is below 65. The Momentum Rank criterion is based on a combination of price performance, changes in the accumulation distribution ratio, and industry group strength. The Wilder RSI is an oscillator that suggests that a stock has become overbought, meaning its short-term risks are elevated, when the score rises above 70. Placing an emphasis on stocks with a high long-term growth ranking improves overall returns, since many of these stocks are among the ones that traders look to first for sector direction. The strategy is geared towards active investors who are looking for potential investment ideas. Results: GMST CTXS TLGD PLMD NUCO VRTY JDSU AMKR CREE NTAP CMVT SEBL NEWP PWAV VTSS SUNW CSCO TLAB

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