50 stocks with momentum | stockbee

2/04/2010

50 stocks with momentum

Market has had a 8% kind of correction in recent weeks. Some stocks which were leading the move broke down during the correction. But as is the nature of the market new leadership emerges during such corrections. Some stocks  withstand the correction much better than other stocks. Some stocks have a immediate catalyst that makes them go up even when market is in correction.

These 50 stocks are ranked  in top 4% by six month relative strength and are also within 8% of their six month high.

Some of them have earnings as catalyst. EK, APKT, LXK, CREE, TPX, SANM, ISSI are some with recent earnings. The earnings season is on and so some  stocks with exceptionally surprising earnings are breaking out.

Strong stocks like these are double edged sword. Some can go up a lot and some might be near their top. So some will make good longs, some will make good shorts. When looking for long candidate look for 10 to 20 days of pullback or sideways move. That way you avoid getting in to overextended stocks.

ACXM
AMLN
APKT
AXL
BARE
BEXP
BLC
BWS
CFI
CREE
DAL
DSW
EK
EXXID
F
FFBC
HZO
ICOC
INCY
ISSI
LCC
LXK
LYV
MAPP
MIC
MMR
MNI
MNTA
MSPD
OSUR
PRXL
REGN
REXX
ROSE
ROY
RVI
SANM
SBGI
SCSS
SGI
SLXP
SPRD
TLB
TPX
TRGL
UAUA
VCI
VNR
WPZ
WRLD
WSII
XTEX
XTXI

To generate a list like this in Telechart you need couple of scans:
  1. 6  month relative strength scan : c/avgc126 (take stock ranked 96 plus using the scan)
  2. 6 month high scan: (100 * ((C + .01) - (MAXC130 + .01)) / (MAXC130 + .01)) (take stocks above -8% by this)
  3. Liquidity scan: MINV3.1 >= 1000
  4. Price >5
You can use the same scans to also finds weakest stocks in the market. 

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