To: Chart Guru and fellow chart gurus!!

[clavocat]

ive been looking at candlesticks alot! and im just curious where u find the stocks that are about to explode...such as CUP, i mean Ive never heard of it before this site and im just curious how u go about finding these no name stocks. thanks, chris

[madcowdisease]

ive been looking at candlesticks alot! and im just curious where u find the stocks that are about to explode...such as CUP, i mean Ive never heard of it before this site and im just curious how u go about finding these no name stocks. thanks, chris

I can't speak for him, but from what I have gathered he, and many other technicians, runs screens for oversold stocks. There are many tools for this. You can look for percent decliners, point decliners, stocks that crossed or closed below various MAs, and technical indicators such as touching lower bollinger bands. From that point you can start looking at candle stick patterns to figure out the reversal of a downtrend. Good luck.

[Luc1Grunt]

Some use americanbulls.com for the screen. I do not, but I glance at it to add some confirmation to a "possible" trade. It helps a little over 60% of the time to confirm or deny. Take a hard look at that site and see how they figure their success rates. Not the way you would actually enter and exit.....but it looks good on their "running profit".

[Mad Girl Investor]

www.stockfetcher.com is what Guru and others use.

[Luc1Grunt]

I use stockfetcher as the primary screening tool. I referenced american bulls based on the candlestick question. I have traded recommendations from this board (stocks that have not hit my scans) after I looked at the chart, added to watchlist, and made a decision. I run three primary screens and adjust the Volume and Price of the Close as needed to pull at least 10-15 "potential" picks a day. Some materialize, others drop off the radar. Some screens produce zero picks for days...especially those in a long, tight consolidation.

My screens look for:

bottom feeders for a bounce and quick 3-5%. #2 money maker. This keeps the money flow into the account, but the gains are small and the risk can be higher. There is usually a reason it is a bottom feeder. This method needs 5-10 positions a week and is time consuming to manage. Stop discipline is critical or you will become a "holder" of an "investment" if you are not careful.

Stocks in consolidation after a Phase IV and good fundamentals. #3 money maker. Tougher to find, and fundamentals/news plays more of a role. This takes more "time" to develop, but long term gains are more abundant.

Stocks in an uptrend on a pullback. #1 money maker held 1-2 weeks (swing). If it pulls back, use the indicators to replace stops if it shows another breakout and continuance of the trend. Look at ADM. I hold many shares as a long term "investment:, but have been in and out on pullbacks with additional shares as an income generator. Makes tax accounting fun though!!!!

[Leb]

good question clavocat, I was wanting to ask the same question... thx for your input guys

[Leb]

for stockfetcher, you guys pay the monthly fees? or is there a free version?

[Luc1Grunt]

$24.95/qtr

[Psampson]

you can also use stockcharts.com for free. They do stock scans for various candlestick patterns and all the other scans.