This is talking about: Barchart.com - figure out how to get to their screener.
Copy of a PM reply from a good while back. Someone wanted to know how I found my stocks.
Believe me, this is only a beginning. It does not show stocks to be bought today, but it does show strong
stocks at the moment.
This was a starting point for me, but honestly, I no longer use this scan. It is good for finding when small
stocks are coming in vogue. I have seen the list over 125 stocks. Always best to go with the tide.
If you are not familiar with Barchart, take a while and get the hang of it. There are so many good filters to
use. Then, put your thinking cap on and figure out what you want to look for, and at what point you want to
find it.
If you are not willing to put up with any losers, you are in the wrong place. If all your stocks have been
winners, I wouldn't change anything.
I would advise anyone to paper trade, or use really small amounts of $. At least for me, this isn't about
finding just the right spot to scalp a stock for fifty cents. I'm looking for big moves, and they take time.
Going to reiterate having losers. You could buy five stocks that look identical, maybe one goes up 300%, two
could go nowhere, and the other two crap out. We're talking about the market here. Nobody is putting red flags on winners.
I think Chuck Carnevale is a smart guy. He published an article where he said he "felt like a thief in the
night" buying IBM at $180. That doesn't make him any less smart, but we are dealing with the market,
and he got that one wrong.
The big money that moves the market is always wanting something. It hasn't been IBM.
Questions can be asked here or in PM.
If everything is set up right, five stocks show up today.
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Nope, no subscription needed. Pretty sure you are only allowed 5 watch lists and 5 portfolios. You won't
need more than that.
I'll do my best to guide you through setting up the screener. Once you do it you will find it pretty easy.
You have to create a free account.
Click on stocks at the top, and go down the first column to stock screener.
Below Add a filter, in the box with (select), chose Prices and Volume. Next box to the right, chose Last Price.
With nothing in the third box, hit the blue ADD button.
Do the exact same thing again. This is where you will put in the $1 and $8 in a minute.
You should have two of these loaded down below.
Go back to the first box and change Prices and Volume to the 6th one down, Technical Analysis.
Next box to the right, go down 14 on the list to Weighted Alpha. Hit the blue Add button.
The rest can just be typed in. In the Weighted Alpha boxes, type in 100 and then 5000.
In the next box down, Last Price, type 1. This sets the scan to scan for stocks over $1.
Next Last Price down, you have to change the first box from Greater than (value) to Less than (value),
then type 8 in the box.
I forgot one thing. Toward the top of the page, at Exchanges, unclick all the boxes but the NYSE and
Nasdaq. Otherwise you get a lot of junk. I just ran the screen and got 126. Not long ago I was only getting
70 to 80.
Once you hit See Results, if something isn't right, you can click on Set Filters toward the top of the page
and make changes before hitting See Results again.
If it looks right, on the right hand side of the page, you can click on Save Screener so you will always have
it. You also need to hit Save as Watchlist to keep it. They will ask you to name both of them.
Once you open the watchlist, in the header toward the righthand side you can click on Flipcharts and go
through them one at a time. The default view is six months, but I always change it to one year.
It can be a little confusing at first. Fairly easy once you get the hang of it.
I have a little more I look at, but get the feel of Barchart and let me know how it goes. I think I have got it all
here, but I could have missed something.
If you haven't figured it out yet, I will help you out anytime. The world needs us helping each other. |
