Stock Screen for Tuesday 6-17-08
Today’s screens give us an interesting mix of stocks that were higher on above average volume. I was specifically looking for stocks that were up at least 1% and had volume of at least 50% larger than the average. Several names, such as AAP, ABFS, ACM, EEP, ERES, FDS, GDI, IPHS, NDSN, OMI, PQ, TEVA, TITN, TOT and VIT, showed up on multiple screens. I will admit that not every one of these stocks look appealing after viewing the charts.
TITN, Titan Machinery (made three screens) was up almost 11% on volume 509% larger than the average closing at a new all-time high. The stock is now up 30% since the original analysis on April 21, 2008 at $23.97 (the ideal trade setup was noted at $21.00 which the stock did drop down to). A buy on a move back above $21 would give you a current gain of 47%.
Vanceinfo Technologies (VIT) is a stock that I noticed for the first time today as it was up 3.37% on volume 122% larger than average. VIT made the IPO screen and interesting stocks within 15% of a new high screen. The Chinese stock interests me as it has more than doubled in price over the past three months and is now flirting with a new all-time high.
This is exactly how I dissect my screens each night – I look for stocks that are up more than 1% with volume at least 50% larger than the average. Stocks making multiple screens are viewed first but every chart is analyzed.
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Hey!
Thank`s again for a great site!
What sorts of stops do you use? are you scaling in and out?
I`m building a new system that can trade bigger funds and I was woundering if you hade any idea I should look into?
The system I used had a wery short timeframe and smal R`s. I`m know trying to build a system with a longer timeframe.
The last system was only based on patterns, know I`m implementing CANSLIM to select stocks, then I wait fore the patterns to form;)
I have to get this system to be a part of me, just as the system I`m trading now:)
Chris,
How long are you typically in a position? And how many positions does your portfolio typically contain at any one time? And is it possible to see what your YTD, 1 yr, and 3 yr (more if possible) performances?
Thanks!
APWR.
nice call. money.