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09/24/2012 Weekly Stock Scans

09/24/2012 Weekly Stock Scans

Postby Cobra » Sat Sep 22, 2012 7:14 pm

Total 18 stocks for the next week.

Mostly are consolidation before possible breakout (Base and Breakout setup): AKAM, ALLT, ARNA, CRUS, DSCO, ELLI, EXH, FNP, GET, GEN, LGF, NTSP
Some may already had the breakout but it pullback to the breakout point, so maybe a 2nd entry: AOL, GPS, SHFL, WYN
Some are H2 long setup after pullback: STX, WNR
If you have question about why particular stock got selected, please do not hesitate to ask.

1.png

    HERE explained why most stocks chosen are at or near 52-week high. Generally you should buy 52-week high not 52-week low. HERE is my simple explanation if you don't want to read the lengthy link I provided.
    HERE explained how to determine your position size. Generally you cannot simply all in on one stock.
    HERE explained Base and Breakout Setup and how to trade, which is the major criteria most stocks were chosen.
    For buy pullback setup, I'll write another post as soon as I found a good example.
    All stocks must have 3 month average volume above 500K and the current day volume above 200K.
    No consideration of the broad market trend, the ER time. Those strong stock would sell off hard if the broad market corrects.
    It's auto scan. Not a stock recommendation, trade with your own risks!

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Re: 09/24/2012 Weekly Stock Scans

Postby Cobra » Sun Sep 23, 2012 12:42 am

attached is where I found those 18 stocks. It's the 1st round scan for strong stocks, so all are strong stocks. Not selected is not because they not good, they're just in different setup.
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Re: 09/24/2012 Weekly Stock Scans

Postby Cobra » Tue Sep 25, 2012 9:15 am

What is perfect base and what is not.

Generally, if we see a base with exactly the same high being tested 3 times, that'd be perfect. In reality such a case is not very rich, mostly the base highs are uneven, so it needs a little experience or luck to put your buy stop or simply you can wait for the breakout then buy pullback, if there's a pullback after the breakout, of course.
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Re: 09/24/2012 Weekly Stock Scans

Postby Cobra » Sat Sep 29, 2012 7:41 pm

The final conclusion:

The broad market had a bad week, so only 4 breakouts among all 18 stocks chosen this week. However, except CRUS, all the remainder stocks still looks in good shape therefore can still be in your watch list. Again and again, please read this link carefully to know what is buy breakout setup, as most chosen stocks are not immediate buy until the breakout. http://www.cobrasmarketview.com/base-an ... out-setup/
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