Volunteer,
I'm afraid you will find my answer most unsatisfying:
I've written software to alert me when any stock falls to within a small amount of its designated "historic low". For those issues I follow, I visually determine what this alert price is and record it in a price alert data file. This file serves as the input to a program which compares the closing prices of these issues against the price alert levels. When a stock closes below its alert level, its name shows up on a list which I print on a daily basis. The program is written to use the closing price values broadcast by the DBC Signal data feed.
I suppose you could always just scan the list of stocks making new 52-week lows, but there are a lot of real DOGS on that list that you'd never want to touch with a 10-foot pole (Boston Chicken, etc). Many of these stocks have an obvious reason for being there: they're in the process of going bankrupt! Unless you can be fairly certain that a stock will survive and eventually rebound, it isn't worth the risk.
I forgot to mention another favorite that's right at its low now: Newmont mining, symbol NEM (a non-tech, no?). Also Nucor (a steel company), symbol NUE. Also some ADR's, foreign stock market index funds, and closed-end country funds selling at mondo discounts to NAV: EWS, EWM, FPF, IIF, IFN, JFC, TWN, CH, ATY, AAP, ARA, UNR, CHR, EOC, etc, etc. If you want to fantasize about becoming a millionaire, call up the long-term charts of these symbols!
Cheers,
Aaron |
