Stock Scanner

Finding a Long Legged Hammer Candlestick Trading Strategy Part One

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I have been trying to come up with a valid long legged hammer candlestick reversal trading strategy.  So far I am still in the exploratory stages and have not been able to come up with a perfectly clear system on how to trade them. I am mostly interested in the LONG LEGGED (also known as … Read more

Stock Scanner Results for August 7, 2009 AWBC and VOCL

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awbc20090807 vocl20090807

Only a small handful of stocks came up on my new scan that I discovered.  I got 6 results from over 4500 NYSE and Nasdaq stocks. Unbelievable.  I continue to be extremely impressed with this scan because it is returning so few candidates out of so many thousands of stocks.  And some of the candidates it returns tend to be at optimal time and price locations.  Now part of this is the result of the positive overall structure of the broad market, or is it?  I will not really know until I start to see the results of this scan in a more choppy sideways market or bear market.

The stock scanner also tends to reveal a lot of spotty type stocks.  With more spotty volume and price.  That is because I have it open to give me results on as many stocks as possible.  I am not limiting it to stocks that just trade above a million shares a day for example.  I do this because I do not want to limit opportunities of what it may find.

Anyway, AWBC and VOCL came up in the scan.  Both of them have somewhat spotty charts and VOCL has quite a small trading float (about 6 million shares) so it’s moves can be fast and sharp in both directions.  (click on each chart to see full size)

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PACR Pacer International Setting up for a Breakout

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PACR

BestOnlineTrades recently developed a powerful new computer scan that scans over four thousand five hundred different stocks (Nasdaq and New York Stock Exchange).  It is a superb scan because out of that entire list of 4500 plus stocks it only returned 1/3 of 1% as viable candidates! (.27%)  And it typically seems to only return a maximum of 20 stocks each day.  That is extremely valuable not only because of time savings, but also because of the quality of the candidates it seems to find.  It is a custom scan I developed that uses a combination of two very powerful indicators.  One of them happens to be an indicator that the famous Jake Bernstein likes to use a lot.  But when used in combination with our own custom indicator, the quality factor goes up 5 fold.

PACR Pacer International is one of the stocks that came up in the scan and we are glad that it did, because it looks quite good to these eyes.  The few months to the left of this chart are also significant (not shown on the chart above) because in March PACR did a nose dive into the 1.7 range area, then it rebounded to the 5 level only to fall back where we currently are in this congestion area.

So one could say that the current retracement is a complex double bottom and now we have built sideways cause here for about a month and are perched just under the resistance line close to the mid 2’s.

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