March 2nd, 2010

More For Your Watchlist – Part 2: Stocks on the Move

The first batch of stocks from which to source additions to your watchlist were 49 making new all-time highs as of last Friday (the list grew to 58 yesterday). Another source is a scan I modeled after IBD’s daily list call “Stocks on the Move”. I’ve incorporated stocks from this scan in several past posts (July 22, 2009 included 135 and November 07, 2009 included 107), actually bought some that I thought looked the best and, unbelievably still own many at a profit today.

The criteria used to construct this list include:

  • Price per share > $15
  • Price percentage change today > 0.5%
  • Relative Strength Indicator today > top 50%
  • MoneyStream Surge for past week > top 50% (proprietary to Telechart grew out of joint venture with a large regional brokerage firm to develop a price/volume indicator. The result is an indicator with much the same objectives as OBV and is interpreted in the same way you would interpret OBV. Generally, you look for divergences.)
  • EPS percentage change from 4 qtrs back > top 50%
  • Volume surge over past 5 days > top 50%

Over the past two trading days, the list has now grown to 199 yesterday and a 243 names over the past two trading sessions (click here for a spreadsheet of the complete list; 21 of the 243 also made the new all-time highs list)! Many of the names are the same as were on the last November and July although at significantly higher prices (check out the stocks on those lists….you’ll be impressed).

At the risk of misinterpreting the following list as “favorites”, I thought I’d include charts of some of those 362 so you can see what their charts might typically look like. You need to pick your own favorites based on either the charts, fundamentals, volatility, dividend yield, industry group or a combination of all these variables suited best for your particular needs (click on image to enlarge):

  • KNX (Knight Transportation)
  • JCI (Johnson Controls)
  • WYNN (Wynn Resorts)
  • ADSK (Autodesk)
  • AAPL (Apple)

I’ve inserted a representative sample of only 5 charts; I could have picked many others instead. This has always been fertile ground for finding winners; it’s a good place for finding stocks to add to your watchlist (or wish list).

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