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How to find shorts using Telechart

Posted on 5/03/2010
After a multi week rally in which the Nasdaq 100 made a 18% move from February low, in last few weeks we are witnessing some good selling. Many stocks which were leading this market are  now having a correction or a pullback.

If you are looking for shorts using Telechart ....
At this stage if you want to look for short opportunities then there are many ways you can look at stocks which were lagging the market and look for shorts in them. You can look at stocks which rallied a lot during this bull phase and which are just starting to breakdown.

How to find strong stocks now breaking down using Telechart ......

To find stocks which were rallying and now breaking down you can create the following easyscan:

  1. Watchlist= common stocks
  2. Liquidity condition: pcf= MINV3.1 >= 1000=true
  3. Price % change 6 month= rank 75 plus
  4. Price % change one month = rank 1 to 25
  5. Price per share>7
The Telechart scan will give you 88 possible short ideas .....
If you run the scan today you will get 88 stocks . These are the stocks which you can watch for possible shorts on a rally in shorter time period.
AEL
ALGT
AMD
AMLN
AMR
ANR
ARUN
BEAV
BGS
BUCY
CAAS
CAGC
CCME
CENX
CLF
CLNE
CNH
CODI
CPA
CSFL
CTEL
DAL
EAT
ETH
EXXI
FBR
FINL
FNSR
FSIN
GNW
GPRE
GSIC
HGSI
HNT
HUN
HUSA
ID
INCY
ITMN
IVN
JAZZ
LMIA
LOPE
LULU
MGLN
MITI
MMR
MNTA
MTG
MTL
MU
MYL
NAK
NEWP
NKTR
OEH
ORB
OSIP
PAC
PAY
PCX
PFCB
PHH
RCNI
RDN
RDWR
REGN
RGC
RICK
SEED
SFD
SFLY
SGI
SMCI
SOMX
SPR
TCK
TIE
TSTC
TWTC
TX
VLTR
VPHM
WLT
WOR
WRLD
X
ZUMZ

What kind of stocks will this Telechart scan find .....
Not all of them might be good opportunities. But if you wait for right opportunities then some of them might setup in next couple of weeks.

WLT: Walter Energy Incorporated

X: US steel Corp


HGSI: Human Genome Sciences


The scan output if you sort by Sub sector also tells you which sectors are having the largest number of breakdowns. For example metal stocks, biotech stocks, and airlines stocks are showing up at this stage in the scan.

How to find weak stocks under performing the market using Telechart ....
Using similar logic if you want to find weak stocks that were under performing the rally during the last six months but that had a rally in last one month then you can find them easily. To do that create a following easyscan in Telechart.

  1. Watchlist= common stocks
  2. Liquidity condition= pcf= MINV3.1 >= 1000=true
  3. Price % change six month= rank 1 to 25
  4. Price % change one month= rank 75 plus
  5. Price per share>7
This scan will give you 32 possible short ideas  as of today ..... 
AEM
ARD
ATAC
BCRX
BOOM
CDE
CHU
DCP
ES
FSLR
GME
HLX
HOS
HOTT
HURN
IOSP
JRCC
KBW
KLAC
LAD
MXWL
NBR
NRG
ORA
STEC
SUSS
TBSI
TNS
TTWO
WFT
WTI
XNPT

What kind of stocks will you find in this Telechart scan ......
ORA: Ormat Technologies Inc



How to get the maximum out of your Telechart

There are many more ways you can use Telechart to find both long and short ideas. Many people who subscribe to Telechart are not fully aware of how they can use it to find profitable trade ideas. Many times people have a trading idea but they do not know how to convert it in to a Telechart  PCF or a Telechart Easyscan.

Many beginner traders struggle trying to put together trading method using Telechart. On the members site for last couple of weeks I have been running a daily series of posts on various ways in which one can use the Telechart scanning capacities to find profitable ideas. Every day a scan problem is posted and members try and arrive at solution to it  and next day the solution to the scan problem is provided.


1comments:

Is It Possible said...

Wow, very interesting...