A Stock Screener That's Working For Me Even In This HORRIBLE Market
Not financial advice. I’m not licensed or educated or anything. Just a very geeky amateur.
Just a quick post to share what’s working.
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I have to admit. I’ve had some great and some really bad ideas this year in trading. And overall I haven’t been far off in stock picking, but I’ve been horrible at timing. And very undisciplined about setting stop losses.
I have stuff in the works to plug those leaks.
The one thing this current market pullback has made me focus on is TIMING.
This is the kind of market where a stock can look perfect one day, and start to tank the next.
So for one thing, I have to think long-term.
But I can also be very diligent and strict about my screening.
If I have a screener that returns less than 50 stocks right now, it’s probably on track. It could be 10-20. And I have multiple screens now… more on that coming up.
I’ve always been a momentum trader (and I’m working on my mean reversion skills. I knew I’d have to when this crazy market run ended. And even if it’s not ending, this is a good time to look at it).
For momentum, here’s what I’ve got:
This momentum screener is here, and it’s a little looser than I had it initially because I then screen it with a set of TradingView technical indicators here:
Yes, it’s a lot. If I hadn’t learned what they all mean, I would be overwhelmed by that. Generally speaking, I look for all green down the right side of the ti bands.
In the table, with the indexes still going down after a 3-5% pullback, I want to see just about every mark in that lefthand column green (and come to think of it, there’s a lot of stocks that are good for shorting right now, the ones that have all checkmarks in the short column):
That’s a killer TI by the way, if you want to explore it. It’s the DIY Custom Strategy Builder, one of many kind gifts created by the TradingView community.
It lets you pull together a leading indicator and confirmation ones, which hopefully round out everything important without being too redundant.
I spent a lot of time with Perplexity talking about all of this, and finding out which TI’s are most important (EMA, MACD, DMI, but I wouldn’t buy anything just on those three right now).
One of them (VWAP) signals the price has exceeded institutional support and is running on retail fumes, so watch out for reversal!
I said a quick post, and I meant it.
If you find any of this interesting or useful, let me know!
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