Question: Do you use any stock filtering to create watcthlists? If so what setups do you use?
Answer: For the most part, I day trade the stock index futures. However when trading stocks I like to scan for stocks that have relative strength greater than 70 and less than 95 over the past 3, 6, and 9 month time frames. In addition, look for stocks that are above their 50 day moving average. I oftentimes will narrow the search to stocks that are trading between $10 and $30 per share. From this list I would then look at the chart patterns to see if anything outstanding shows up. And also, based on the chart, I will find the correct spot to place a stop/loss order. Hope this helps! ~ Mike Reed - TradeStalker.com
Mike Reed
http://www.TradeStalker.com
Genuine AllExperts Expert
Check out my bio/ratings page!
http://www.allexperts.com/displayExpert.asp?Expert=70528
Tuesday, April 04, 2006
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