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Sunday, October 7, 2012

Price Relative Scan

The price relative scan for Friday has been uploaded here, the price relative scores for this week are here, and the updated historical data is here.

I have made one major change to the breakout scan: the non breakout new highs are now being scanned out to 50 days rather than 20. The reasoning behind this was as a result of evaluating the early trades I made back in August: those stocks that performed best had had prior strength, but had recently undergone consolidations which lasted anywhere from a week to over a month, which would have lowered their scores when I bought them. I am now going to look for those stocks hitting either the 20 day breakout list or the non breakout new highs list that have relatively high scores (probably 10 or higher) and low recent scores (5 day and 20 day). Since strength seems to come in patterns that last about a week or so, I figure I can catch a stock that is about to run in the early stages. One thing this, if successful, will do is focus on the stocks most likely to run. While the "shotgun" approach of buying all the stocks has so far been relatively successful, comission costs are eating a lot of the profits, and if I can avoid that, the better. Just a quick scan of the spreadsheet revealed two buy candidates for tomorrow, which I highlighted in the table above. There is probably a way to have the spreadsheet do this automatically, and spit out a list of stocks to buy, but I haven't figured it out and will be doing it manually for the time being, and will list them, probably as an early post about an hour after the open.

I have also made minor changes to the historical data which makes it easier to search. I had planned to reconstruct it back to the beginning of this year, but we are reaching a point where that data is no longer relevant, so I may stop the reconstruction here.

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