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10/15/2012 Weekly Stock Scans

10/15/2012 Weekly Stock Scans

Postby Cobra » Sat Oct 13, 2012 7:26 pm

As per requested, starting from this week, the scan will include Canadian stocks. However, based on the same standard (as US stocks), chances that a Canadian stock found by scan program is not high. Take this week's picks for example, total 23 long watches, only 2 are Canadian stocks, 9 short watches, none are Canadian stocks.

There're 23 long watches, 9 short watches this week. Some of them are inherited from the last week's scan. Those last week's picks that had breakout or the chart pattern became bad are not listed here anymore because they're no longer Base and Breakout setup, in which weekly scan is focused. It doesn't mean they're not worth trading anymore.

Because of Non-Stop Model started to show some downside warnings, so this week's scan includes short watches.

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The major criteria for picking either long watches or short watches is base and breakout setup. So again, let's be crystal clear, before the breakout, it's not buy or sell. Especially this week's long watches, lots of charts are very closed to be kicked out of the base and breakout setup camp, should they drop a little bit more.

BaseAndBreakoutSetup.png

SHORT WATCHES:

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LONG WATCHES:

2.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 long watches must have 3 month average volume above 500K and the current day volume above 200K and price above $2.
All short watches must have 3 month average volume above 1M and the current day volume above 500K and price above $5.
No consideration of the broad market trend, the ER time. Those long watches may sell off hard if the broad market corrects, those short watches may rebound sharply if the broad market rallies. So when trading those stocks, be sure always bear the trend of the broad market in mind. Stocks a tiny wave while the trend is tide, there's no way a tiny wave beats the gigantic tide.
It's auto scan. Not a stock recommendation, trade with your own risks!

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Re: 10/15/2012 Weekly Stock Scans

Postby Maple Lead » Sun Oct 14, 2012 9:04 pm

Thank you Cobra! :D
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Re: 10/15/2012 Weekly Stock Scans

Postby Cobra » Sun Oct 14, 2012 10:58 pm

Maple Lead wrote:Thank you Cobra! :D


You're welcome. I'll include Canadian stocks on the condition that I use the same scan criteria. This would reduce my work load but you won't find many Canadian stocks being picked every week, so sorry.

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Re: 10/15/2012 Weekly Stock Scans

Postby Maple Lead » Sun Oct 14, 2012 11:11 pm

Cobra wrote:
Maple Lead wrote:Thank you Cobra! :D


You're welcome. I'll include Canadian stocks on the condition that I use the same scan criteria. This would reduce my work load but you won't find many Canadian stocks being picked every week, so sorry.


That's alright. I greatly appreciate it.
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Re: 10/15/2012 Weekly Stock Scans

Postby Cobra » Fri Oct 19, 2012 9:39 pm

Weekend conclusion:

Not good for short watch, only 3 left for the next week's watch. No breakdown this week.

2.png


Long watches are OK, a few breakout, a few patterns went bad.

1.png


Those without breakout yet the pattern still OK will be in the next week's watch. They have to compete with the next week's new picks in order to appear in the next week's watches though.

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