irby: good posts, very informative (and free too). Awhile ago I noticed that someone asked where you find day trading prospects. I'd like to take this opportunity to generate some insight. While fooling around here on SI, I clicked on Spotlight; then on Volume; then on Volume Percentage Leaders. From there I took the top 3 Vol. Perc. Leaders [RFMI; ZITL and NVLS]; 2 of 3 had some pretty good losses. Next, I charted each of them for 60 days (at the site you mentioned earlier), using a 50 day MA. Then, I went to PCquote News Alert (Yahoo works just as well) to see what kind of news might have driven them.
RFMI had plenty of news, but nothing negative enough (in my mind) to cause its plunge. So, what I determined (for this stk.) was to watch it closely; and, when its 5 day MA crosses its 10 day MA, it might be a good turnaround situation. Its 50 day MA has been very steady for the last 60 days, with just a slight decline. Its core business is solid and it may very well be a great day play candidate.
ZITL confused me a little, so I have no comment there.
NVLS, however, is a very good candidate. I will watch it closely.
As one can see, finding things to watch is really quite simple. Now, for the rest of the story . . .
GeneM |
