Wednesday, May 14, 2008

NASDAQ Scan

Given that the market is at a long downtrend resistance level today, I thought it would be appropriate to post a scan of stock that are in trends. The scan clearly shows the up and the down trending stocks. The scan attempts to filter only those stocks that are experiencing a pull back.
What does the scan look for?
It uses linear regression, force index, and a few other goodies. The close must be greater than 5 and less than 100 (no reason only that I don't want pennies). The volume (20 period MA) must be greater than 250K. Once this scan is run, I look at the charts to select the potential candidates. Typically I like to buy on momentum, using buy stops (for longs).

Performance: To see how this scan performs, I ran it on past data. The FIRST scan shown was run for April 24, 2008. I selected this date as it was in the middle of an uptrend in the Q's (QQQQ).

The SECOND scan shown is run on today's data.

All the symbols are not shown. If you like the scan and want to see more of them let me know and I'll post excel sheets so you can see all the symbols. If I get no responses, I'll probably won't it anymore.
April 24, 2008



May 14, 2008

Disclaimer

The information presented on this site is for educational and entertainment purposes only. This site contains no suggestions or instructions that you must follow, do your own research and due diligence before committing your cash to the markets. Your on your own.