Scanning software.. I am asked over and over what I use. I use technifilter for windows, and Telescan's Investor's Platform with both e-search for earnings scans (a reverse Zacks earnings estimate, somewhat like the game jeopardy.. You put in your exact values for a earnings report up to the exact cents per share, revenues, # of analysts tracking the stock, how many have changed their estimates in the last 7 days, 30 days etc.. how has the concensus estimate changed in the last 7 days, etc.. even what is the highest up estimate and lowest down estimate for every month of the fiscal year)
I can scan for just about any technical breakout or even prices that are close to a technical breakout. I can scan for status of prices in relation to support/resistance and trendlines, before they have broken through, after they have broken through.. scan for moving average crossovers, MACD breakouts or 'almost' breakouts, Linear regression buy signals, different kinds of up/down volume patterns breakouts, Point & Figure breakouts or early 'almost' breakouts with the breakout price, basically anything but I only use about a half dozen or so techical scans and use them on stocks that I already have scanned previously for their 'fundamentals' (for the newsletter) For the watch list the technical scans are first and the fundamental scans are second.
.. Using both technical and fundamental scans I find vastly more superior trades than just using either fundamental or technical.. You need them both for the best possible trades and the longest possible holds. Momentum trading and daytrading is good enough for many people and it is infinitely easier than the filtering and re-filtering of the scans that I use, but after a while I know the ones that backtest the best over time and I use them over and over again..
But the actual buying and selling of the stock is easier for me than it would be for a scalper who trades 50 times a day for a 5 minute span. I work harder and do my 'homework' before the trading day begins and I have an easier time just following my buy signals and usually buy at market and sell at market because it is not daytrading, the stocks are in an uptrend and trending higher usually due to the anticipatory upswing of the 'earnings momentum' so I don't worry as I would with a stock like MALL, UBID or whatever is the momentum stock of the moment. |
