How To Screen Stocks

Often times people wonder “how do people look for juicy stocks to play?”  I’ve wondered that myself often.  Well now that I know the technical analysis better, I go to a list of very useful sites to give me a quick summary of the potential stock plays.

1. Go to www.stockcharts.com stock scan page
2. Choose from the three different pre-defined scan types: Technical Indicators, Candlestick Patterns, P&F (point & figure) Patterns
   1. I usually look for gap ups/downs, bullish/bearish crossovers, strong volume gainers
   2. For candlestick I like bullish engulfing and evening/morning stars.  Hammers are also a good indicator also
   3. For P&F I like bullish/bearish reversals
3. Learn a bit about the stock – if you like to study fundamentals, go for it
4. Go to www.finviz.com and look for patterns you like to play
5. Go to www.google.com/finance and type in the stocks you want to learn.  It’s a quick and easy way to get some latest news pertaining to the stocks.

Well there you have it.  Happy trading.

Tim Sykes Challenge DAY 2 – SPRD
Tim quoted:

SPRD spiked from the get go, was a great over-the-weekend hold…as my girlfriend posted, she bought at $1.75 and sold at $2.20 premarket, great $350 profit on a sub $5000 account…others profited too, sorry I wans’t more aggressive in buying that solid news breakout, but unlike THIS guy, I would never hold a stock long that fades so perfectly throughout the day…learn to follow price action…Hiro, you may need private coaching lessons if you think perfect fading action is a sign you should still be long…this is a clear potential short

How kind of him to “feature” me on his daily TIMAlert today.  Gotta love the heroic introduction to his readers lol.  Anyway he suggested SPRD as one of the potential shorts this morning.  Turns out he was right.  I also saw this morning’s immediate weakness 20 mins into the market open, but with no success due to n0 shorts available.

He also bought APAC today at $3.35 with an exit point around $3.55 range tomorrow.  Can’t wait to see  his result.

Bought 3000 APAC at $3.35…this one is breaking out on strong volume…likes to spike in the morning and gap higher…its holding the previous high of $3.30 after consolidating, everything tells me I can sell this near today’s high of $3.55, or higher depending on how it acts tomorrow morning…low risk, medium reward type play, goal is to make 50 cents/share but i’ll take 25-35 cents/share

Will wait for another opprotunity..hopefully one that doesn’t change it’s direction in less than a day.  I really want the subscription to benefit swing traders like me and not just a day trader.  AND certainly not to have a prerequisite to buy his DVDs lol.