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10/22/2012 Weekly Stock Scans

10/22/2012 Weekly Stock Scans

Postby Cobra » Sat Oct 20, 2012 6:06 pm

There're 15 long watches, 12 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 the weekly scan is focused. It doesn't mean they're not worth trading anymore. Also the scan includes Canadian stocks, they're rare though.

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.

BaseAndBreakoutSetup.png

SHORT WATCHES:

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LONG WATCHES:

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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.
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: 10/22/2012 Weekly Stock Scans

Postby Cobra » Sat Oct 27, 2012 8:38 pm

It's a down week, so lots of breakdown on our short wathes, except one false breakdown. Those who had a decisive breakdown won't be in our next week's watches while the rest, the chart patterns are not bad yet, so will have to compete with our this week's new picks in order to be listed in our next week's list.

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No luck on our long watches, however if you follow the buy breakout rule, you should suffer no losses. No breakout on the upside, lots of patterns are bad now, so will be eliminated. The rest with OK pattern will have to compete with our this week's new picks in order to be listed our next week's list.

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Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
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