More about my method...

In the previous post, I mentioned the technical and candlestick criteria used to find quick 1-5 day trades, sometimes longer, but I did not mention how I find the stocks.

I have written a tcl/tk script that downloads end of the day quotes from Yahoo, looks for the appropriate candlesticks, then downloads the stock's chart from stockcharts.com. I then go through the charts to see which stocks catch my attention. I usually end up with 0 to 20 stocks per day. The end of the day prices, along with high, low, open, volume, are saved in a text file on my computer. Currently, I use the S&P1500 super composite, as all the companies included in the index are available for window trading through FolioFN.

In the future I would like to add stochastic calculations to my script, but the coding is many times more difficult than the candlesticks, mainly due to the number of prices that need to be retreived and put into calculations.

It is that easy.

Watch List (07-17-2006):

MRCY, TDY, UTEK, MLNM, RL, CD, FISV, MMC, THC, RNT, CYMI, ITRI, KNSY, LZB, FIC, WFR, PMCS, Q, JKHY, MHP

If I had the time, I would like to give targets and stop losses for all the stocks on my watch list, but it is probable that many will not meet my criteria at ~10:45 am the next day. Therefore, I wait to first pick out stocks that are up, along with the sector, and hopfully the market, and then determine the short term targets.

Also, I am currently in a short term trade in CNCT, so unless I am stopped out or hit my target, I won't trade from my watch list. I am working on building capital to trade multiple stocks, but for right now it is one at a time.

That's all for now, thanks for reading,

Masterjaz out