Marketscans

[tech/a]

Hi
Ill post these scans at 10.30am SA time daily when im in the office for those who are interested.
Scan 1 is for % increase.I look for volume and number of trades for support.An increase of 100% from 1 trade is meaningless.

The rest of the table is explainatory.

The SECOND scan is Number of trades.NLX is a good example of what Im looking for here.From here you would select prospects look at cahrts assess tradability (Am I too late Too early,is risk acceptable etc)


Let me know if there are any others than Doc interested as I did this at Reef and there wasnt the interest.

Having trouble with Print key so will post the first lot LATE when I sort it out!

 

[RichKid]

Great idea Tech, I don't watch the market every day (although I try to) but I'll definitely be keen to look through some candidates.
Different views on one stock always helps so the more the merrier, let's see if there are others who'll show interest. Hope you get things sorted out.

Also, your scans may show some stocks which are already being discussed for other reasons on ASF so it may help confirm good prospects.

 

[tech/a]

Well I cant up load them it keeps telling me that the pic is too big only allowing 37KB and the pik is 50KB

Never been a problem before?

Sorry seems to bugga that Idea.

 

[RichKid]

Yes the limit is quite low so I have to trim down the charts to min data when I post. Maybe Joe can help you out by making an exception to the limit or perhaps you can trim down the charts in some way??? Or separate posts?? Maybe use smaller file formats (gif).

 

[tech/a]

Rich Yes I save to a gif file.

Ill cut the page size in half and see what happens.

After lunch

 

[Joe Blow]

Maximum attachment size has been modified and is now 80K.

This should be enough for most purposes.

 

[RichKid]

Great news! Thanks Boss, let's see what Tech comes up with for our eyeballs to feast on....

 

[tech/a]

Bahhh

Somethings going on here now the size of the pik is 900x800 and thats just nuts.

Sorry Ill have to sort it out download another pik grabber.
Must be the office comp home is no probs.

 

[tech/a]

OK Stay tuned Have the Snag it disk the bought version so will load that in the morrow then we will start again.!!

 

[tech/a]

Success at last

I look for High number of trades and volume.
I dont think the highest % gainer in this case is worth trading.
Im looking for early indication of a stock breaking out.
PNA possibly.
Ill post another in an hr or so

 

[markrmau]

Should you filter out stocks that have high percentage gain, but have only moved one tick?

How are you defining high volume? Compared to average vol for last n days?

 

[tech/a]

Mark.
Its a personal thing and it depends for me on time.I havent the time to look at charts and trade all day.It has to hit me between the eyes.

I personally look for.
Small % gap up or no gap.
Good number of trades 50 is good anything else excellent.
Good vaolume in the trades Millions are good but depends on stock price--its just visual if low volume I pass.
I then look at a EOD chart and if its a CLEAR breakout then I may buy if the risk isnt much.
IE I can set a technical stop not far from the price now.I work parcel size from there I dont try to retire off of one trade would rather make less with less risk!!
I then time the buy from a 5 min tick chart looking to buy a breakout AZR tick chart if used as an example would see me setting a buy if trading at 19c

Hope this helps.
I havent bought anything off of today.It has to be GLARING at me.

 

[tech/a]

Update for comparison.
PNO is of interest.(To me at least)

 

[Warren Buffet II]

Tech/a where do you get those stats from? What software do you use?

Regards,

 

[tech/a]

Marketcast.
$400 setup and $180/mth
SBS TV feed.Runs off your computer.

 

[phoenixrising]

Thanks for that Tech.

Dito for PDN thread where this started.

Marketcast looks interesting.

Been thinking of Metastock,eod version for charting.

Live data version @ around $2.5k is not cheap,Marketcast may stack up well there.

Cheers

PR

 

[markrmau]

Another alternative, (but the charting is not quite so sophisticated - no intraday indicators) is to use the comsec protrader. If you have 45(?) trades per quarter, you get live full depth, course of sales and a chart showing every transaction for free. You can also pay $80/month (or quarter?) to get this if you don't have 45 trades per quarter.

Not nearly as sophisticated, but much cheaper.

 

[tech/a]

I certaintly wouldnt use M/S pro.Its like driving a truck with flat tyres.

Whatever you use its a cost of doing business.Its also a business tool.
We all strive to have the best tools.But we all better our tools as we become better at our business.

 

[tech/a]

Todays scan.

The blue line is just where the curser was has no meaning.

 

[doctorj]

Definately very useful. I can imagine day traders finding this stuff damn useful.