To: LastShadow who wrote (6482 ) 3/25/1998 11:47:00 PM From: Jenna Read Replies (1) | Respond to of 120523
FAQ's and my "Three Pronged Attack".. These are some FAQ's I've gotten in recent e-mail.. I 'll try to answer in this manner.MY 'Three Pronged Attack': First Prong: The General Watch List: These stocks in the last post are the result of multiple process in utilizing various software and internet resources: 1)Every stock is the result of a stringent criteria search..usually in Telescan sometimes in Metastock's Explorations 2)They get a 'checkup' in Metastock 6.5. for technical outlook. 3)I run them through another area in Telescan (not the Prosearch)to see see how many big blocks went through in each of them. If I note insider buying and/or institutional interest they become part of the watch list. 4) I check them out to see if some of them had their analyst consensus changed in the last week: (I found that PTEK went to 6 strong buys from 5 in last week, WAXS went from 4 strong buys to 6 strong buys in the last week) 5) when I get really lucky some of them come out in technifilter for point and figure breakouts. The whole Process takes about 2 hours. By 9:00 the next morning I'm watching them for any signs of pre-market activity. When they have reached my entry point, I buy. I usually watch 5 minute or 15 minute charts together with a weekly chart. The hard part is getting this group together the night before. I'm not sure that traders do what I do, but I find this technical/fundamental 'cat scan' of the stocks gives me more confidence to make the actual trade.Second prong - The Spare List of past "street beaters" I've played or had on my watch lists Having a 'spare list' of past "earnings plays" comes in very handy when the market is undecided where it's going. Today having ADVH,YURI,SEBL and WAXS around after the large caps fizzled, as I thought they would, came in very handy.Third prong: My Earnings Watch List Having a third list with a few earnings plays served the same purpose. I had my INTS,and could have made a play with LEN or CROS longtime 'members' of my earnings play list .. but this isn't a perfect science and I missed those plays.. Anyhow here is where the Reuter's data comes in very handy.. I get instant reports of any earnings that come in and not necessarily those on my list. Someone in rtrader found the the report today on NEOG and I noted in seconds that this beat estimates by 2 cents even though I hadn't been watching that one. (I keep my First Call Radar beside me all day) They aren't long lists.. just about 10-20 stocks in each list, so it's not hard to follow.. hard part sometimes is making choices because a good number of them can become BUYS... I don't use the past earnings plays list every day, especially if there are other plays to make. Sometimes on a particularly down day the only thing to buy are 'news' stocks and 'earnings plays' . jennamarketgems.com