My Scan For Most Bullish Stocks to Play

Without going into the code I set up for this scan (and I have a couple more things I’ll add and notate later) here is what this list of very strong stocks - stocks I trade in a down market, and trade to the upside - you’re going to see about 300 symbols thereabouts. One of the cool things I discovered is we have “sub-sector” indices popping up. Such as “Gambling.” So that means gambling stocks sub-sector is out performing the other sectors and sub-sectors in the markets.

:pushpin: Symbols must be on an American exchange. Period.

:pushpin: Must have a 90-day daily average volume of over 1,000,000 shares

:pushpin: Must be in the Top 10% of All Recent 52-Week Highs

:pushpin: And the stock/etf must still be trading above its 20 x 50 EMA Bullish crossover.

The list of 288 symbols of which about 275 are investable. And if you own any of these, I salute you. These are the very best stocks extant in my trading universe and many of them are worthy of taking gains from trades and buying underlying.
Why these?

They are going UP!











PLEASE NOTE: THIS SCAN FROM MY STOCKCHARTS SUBSCRIPTION IS NOT ADDING IN THE FINVIZ SCANS WITH WENDY’S AND METAR’S PARAMETERS. THAT COMES LATER.

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@PeregrineTrader what are the column headings?
Wendy

Here you go, Wendy.

I have other column settings too, such as sector/industry/etc. Ask, and if I can make a study for you labeled “WENDY” I’ll post it every weekend. I pretty much have the source code down - it’s just the add ons.

For instance, you might take this list and ask, "Rock, how about showing only the companies turning profits. Rock, can you show the companies paying dividends only? Rock, can you show just the companies with market caps under $40 Billion?

We can do all that after I’ve written the scan. Once the scan tests and is good, then we simply press the button on Friday and I will put “WENDY’s” list right here. (I can also post a candle glance of all charts on one page - something I’ve seen you use on METAR - except in this case - we won’t see my 20 x 50 EMAs and notes on the charts. Still, gives you and idea of which sectors are being led by what stocks.

Takes no more than 5-minutes on my end to set up your scan, Wendy. And if you need more than 1, go for it, I’ll cover you. Pass that on to others on the METAR board. Getting the scan ready is the hard part. Printing a new scan here every weekend is EZ.

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**My apologies to all about the look of the scan columns. I’ve re-arranged things, knocking out a few items, adding a few. Same list as above, sleeker look, better info across the top of the columns. This way you clearly see the sector and industry each symbol is in. I will also leave you a link to the glossary entry explaining “SCTR” ratings.

Why this Scan?

:pushpin: High-volume stocks mean better fills when trading - and usually this will lead you to find even high volume calls and puts in the underlying options chains if you trade those to.

:pushpin: SCTRs are a proprietary rating by stockcharts.com built on how a stock relates to its sector. The sector has to be warm to hot to have some of its stocks appear on the 90+ list. Here’s a tip: at the top of this new look of columns, note the sectors listed. Those are the hottest sectors and sub-sectors at this moment. Next Friday, we’ll have a few new names, and a name or two of the ones present now might fall off - and then again - might not. Get the drop on stocks to play in a sector you prefer when that sector finally enters this scan with a new SCTR of 90+. (BTW, a good SCTR of 90+ can go on for months and even years.)

:pushpin: I could have set this scan to scoop OTC stocks, European exchanges, China, Indian Exchanges, etc., but, the American names are the easiest to trade in and out of - and to own after your perform your F/A off reputable firms, analysts, and bond ratings agencies you trust.















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Okay, here’s the area on stockcharts for learning about T/A. I hope you non-subscribers have no problem accessing this part of their website?

Anyone into Boolean math, coding, or critical thinking will enjoy this little primer. (If you are a regular to this board, you will know I play the hell out of leveraged ETFs. I move so quickly on these trades that 90% I don’t mention here. I hate talking about them, other than to show you examples of how I money manage dangerous trades.

That said, the last paragraph here about SCTRs should put your mind to rest about any “skew” which might arise if we didn’t mind our input of names and NOT allow leveraged and inverse ETFs:

https://school.stockcharts.com/doku.php?id=technical_indicators:sctr

The StockCharts Technical Rank (SCTR) is a numerical score that ranks a stock within a group of stocks. The methodology for these rankings comes from the wisdom of John Murphy, author of many books on technical analysis and contributor to the Market Message at StockCharts.com.

Stocks are assigned a score based on six key indicators covering different timeframes. These indicator scores are then sorted and assigned a technical rank. Using SCTR tables, chartists can sort stocks according to their technical rank, making it easy to identify the technical leaders and laggards within a specific group.

As with all technical indicators, SCTRs are designed to be used in conjunction with other indicators and analysis techniques. For example, chartists can use SCTRs as a filter when there are too many signals, weeding out stocks showing relative weakness and providing a manageable subset for further analysis.

Note that leveraged and inverse ETFs are excluded from the SCTR rankings for the ETF universe. Above-average volatility and inverse movements skew the results. The VIX ETF (VXX) is also excluded because it moves inverse to the S&P 500.

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As I mention weekly when I discuss something like $BOIL $KOLD $LABU $FAZ $FAS etc, please, do not play these if you don’t understand how the decay behind thir use of options will wipe you out if you fall asleep at your monitor.

This list of high SCTRs above is not going to show any of those leveraged/inverse ETFs I play anyway, thanks to the wiser heads at stockcharts who came up with SCTR (actually John Murphy.) So, now I feel more at peace sharing some of the stuff I use to prep for my week of trades and adds to my LTBH shares. From now on when I play a 3x leveraged fund or an inverse ETF, I’ll just skip mentioning it here. I’ll just throw the charts out there and if you have questions about why $BOIL is in turnaround mode, I’ll toss you the lates news on $NATGAS $WTIC $BRENT $GASO etc.

While nodding in and out of the chemo/radiation painkiuller cocktail , having these scans written, tested (first-hand by my own trading since June 1, 2022) means even in a hypnogogic state where I’m wondering if I am asleep or awake, I can still have stocks pop up, smack me in the head, and scream, “Buy the breakout!”

You’ll notice my daily charts also have horizontal bars of support and resistance. I’ll not explain why I like those as much as trendlines, but, if you are looking to learn more about T/A, any break through resistance or support (breakout or breakdown) with higher than normal avg. volume will mean that stock is setting a new foundation for a support to become resistance, or resistance to become support.

This may sould like gibberish. But the clouds will lift the more you look at simple charting and realize we T/A types are not doing this to predict price. No. We use charts to see price/time. And we also see patterns which have held for weeks or months and which are likely, probably, possibly, going to happen again: so you take on a trade at the price you want, you also set a stop/loss below that trendline the stock just kissed and bounced off. Or you do like I do and set your stop/losses at "50 EMA X .97 = new stop/loss. (That’s not a rigid rule of mine, but I will say this is an excellent rule to embrace on stocks with high daily Average True Ranges.)

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StockCharts.com]&cmd=showsort[0]extra[uu[305,a]dacayaci[pb20!b50][dg][ilNONE]]

Somebody here, would you be so kind as to see if you can open this link and view all the tiny charts with the last two months of candlesticks? I am looking to discover if this one link will allow non-subscribers to what I am seeing, which is one page, long scroll, of every chart in the OP table:

The link should open up and look like this in the beginning:

If that link didn’t work for you, let me try saving it to tinyurl.com

https://tinyurl.com/3k644n26

Wow, @PeregrineTrader , thanks!

Here is what I would like (though I don’t want to impose on your time). These are fundamentals because I’m basically a buy-and-hold investor, not a trader.

  1. Company must be profitable.

  2. Company must pay a dividend.

  3. Dividend must be less than Free Cash Flow. (I don’t want to buy a company that is borrowing to pay a dividend their business won’t support.)

  4. PEG < 2

  5. ROE > 10% (this also implies it is profitable since both return and equity must be positive for ROE to be positive)

  6. Morningstar rating 4 or 5 stars

  7. Debt to Equity ratio < 2 (since I’m concerned about zombie companies)

Is that doable?
Thanks,
Wendy

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Okay Wendy, this might take a day.

And there are a few things here which I may/may not need to hand-off to you or someone else on board who could help me build an even better tracker (I will tell you where later, after I’m rooting around with the code here) which you can set up. Then screenshoot it. Then leave your results and I’ll kick out - chart form and list - everything according to your paramaters.

By the way, I had fully wanted to make scans with your paramaters for profitability and dividend payer. So, consciously, I was going to get there, but with your ask, I’ll knock it out this week. I think this will make a fantastic subset of the very safest stocks in this tight universe of the upper 10% of stocks and sectors.

I’ll point out too, I’ll send the code for this particular scan to anyone with stockcharts.com subscription. I’ve got another one I think would interest you daytraders: it shows stocks in a downtrend reversal - which I definie as a stock which has gone 5+ down days in a row, lower highs each day and then BOOM we have a day where the candlestick shows a higher high than the day before. Even better? Downtrend reversals where the low and high are higher than the day before. Add in high volume? Yeah, that’s a stock worthy of playing and even accumulating depending on F/A = and you’ll be getting in at a decent price.

Yeah, Wendy, give me a day. I got you.

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Wendy, much of your ask is doable. The Morning Star rating might not be available, and then, it might be.

And the look into cashflows, I know that part isn’t available for my scan - at least not yet. Stockcharts continues to respond to the “asks” of us traders who use their service all the time.

I look forward to this.

The Wendy Screen. That’s what I’m naming the beginning work where I start putting the code together. This will be a very good list of “safest” companies on the US exchanges at this moment.

With that list, I can also add the weekly and monthly charts and not ever be overwhelmed in upkeep.

I should add I think I know where to find the screen for cashflows. Gonna mess around with this right now with the games on in the background. I’ll let you folks know later tonight what I discover…

Impressive work - and after a quick review I find I own absolutely none of the stocks listed. Hmmm?

Either way, your link takes me to a log in screen

**Wendy, the finviz screen I haven’t used in years is much better than it was. **


Here is page one:

I am just filling in a few boxes to show you how simple this scanning can be on a morning basis with your METAR proprietary screen - and I hope you will do us an honor and name the screen

This morning, 499 NYSE stocks pop up from the beginning of our screen scan. Here is page one of this particular scan:

p.s. Instead of posting all 499 NYSE names here, I will instead give you the link to this screener with the three parameters already filled in on Page 1

Again, this is not the finished product. We still have to add certain chart studies which will add another layer of “safety” for the very best stocks to trade and own in 2023 when we know rate hikes will continue to play havoc with housing, car sales, loans, corporate debt, etc.

** Notice what I filled in here on the opening page with a tab labeled “Descriptive”**

1. Exchange: NYSE (hence, we set up one for the Nasdaq as well which I will perform in a moment.

2. Positive dividend (that is a dividend above .00 cents annually Hence (Positive > 0) in the “Dividend Yield” box.

3. “Average volume” box (which my scan does as well) gives us a base of stocks with avg. daily volume of 1,000,000 shares. With high volume, better fills, better calls/puts options to look over their options chains.

That’s just three parameters to get us started on the “Descriptive” form and now let’s go to the next page to fill in with a tab labeled “Fundamental” I’m only going to fill in one box as I believe this page and the next are where Wendy and METAR will have the most fun with F/A arguments on METAR (civil suggestions) and once everyone feels good about our “picks” we then punch up the scan daily, steal any new names from my charts, and delete any current chart which drops below that SCTR rating of 90.

So, here’s the second form labeled “Fundamental” and the only box I filled in was the first one market P/E which I changed to read “>0” which means the stock is making at least a penny per year in profits.

This in turn gives us the 499 stocks/indices/ETFs which meet the parameters:

1) NYSE stock
2) Over a million daily average
**3) Pays a dividend **
4) and it is currently profitable (finviz is good spotting these companies which may have missed earnings for two quarters and have come back strong with a newly erected narrative which pumped the ea
Okay, next move to show you the scan works for Nasdaq.

Everything above is the same except the first box on page 1 for “Descriptive” and that box, labeled “Exchange” will be the only paramaeter to change out of the four above:

Accordinly, we have 125 Nasdaq stocks metting our parameters:

1) Nasdaq stock
2) Over a million shares daily average
3) Pays a dividend
4) and it is currently profitable

Here’s the enitre 125 Nasdaq symbol table spit out by this scan:







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Wendy, the finviz screen I haven’t used in years is much better than it was.

Here’s what I am going to do to produce the entire safest lists:

  1. I’ll start a screen for you, me and everyone on METAR and here on Destriny Solutions Coporoation.

Here is page one:

(Here’s what page one of the screen would look like in the first Wendy Scan for NYSE stock. Know that I’m doing this quickly just as a demo and what I’m getting for NYSE stocks, over 1 million shares avg. volume, profitable, paying dividends, and a few other things tossed in on debt (which Wendy I ask you to set for how you want things for your screen. Once you got your screen, screenshoot it for me. That way, I can run your screen daily and see if anything is falling off or being added. If you feel weird about calling it “The Wendy Screen” we can Call it The Safe House Screen, The METAR Screen, whatever. But this would really be great to update weekly and have you drop it on your weekly roundup.

That said, 499 NYSE stocks pop up from the beginning of your screen:

Also, if you are reading this now: we are still not using a scanning parameter (per Wendy) to find short-term/long-term debt and its ratio to equity. I’m going to leave that to Wendy and METAR to hash out.

But in the meantime, just for giggles, I’m going to take all 125 names from this scan, put them into a chart list, and see how many of these will then meet my criteria of an SCTR of 90+.

Just a reminder: in my word, the SCTR is a great indicator, such as Morningstar 5 stars, which you can use to play THE stocks which are outperforming in their sector. We will also have (in my scans) the name of the sector the stock is assigned to. We will also see ETFs which I prefer for trading in commodities, entire sectors, world sectors (like EWW - Mexico) etc.

Which reminds me, we haven’t scanned AMEX, And with ETFs, some of these won’t have a P/E print. So I go to Page 2 of the finviz screen marked “Fundameal” and remove that P/E > 0 (I can see where this might cause mistakes going forward if I don’t save scans for NYSE, Nasdaq, and AMEX.

Here’s the AMEX scan, and without looking, I know (from my stockcharts. scans) that we should see a goodly amount of bond ETFs in this list:


And I saved the NASDAQ scan’s 125 profitable names which have dividends and are profitable:

Let me stop for a second and point out just one parameter of Wendy’s and how it changed the Nasdaq list into a safer, more workable list.

Without that second page box labled "P/E - Profitable >0 we have 196 Nasdaq names for our list.

By searching just the profitable scans, our focus just banned 71 Nasdaq names for not having any profits.

So, here are the 125 names:








Check out those 125 names because I am about to take this bull by the horns (without any debt/equity boxes checked) and whittle this down further with my SCTR scan.

I’ll be back in an hour or two.

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