FInviz Scan for 2/01/10 - 0 Bull, 0 Bear

Hi All,

Happy New Year to everyone and may 2010 be a prosperous year to you and your family.

Objective:
My objective of this project is to study the win/loss rate of this system. Thus, position sizing is not the main priority here. The trades will be simulated with 100 shares of stocks per trade. Another reason is, risk control with options will be different to individuals depending on the strike price and months that one pick, thus we will not use options in the analysis.

TAZ - Profit & Loss Analysis v1.0.xls:
This is the summary of all the trades taken by TAZ method (with more simplified rules). This excel will tabulate the expectancy return of the system and reflect if there is any tweaking need to be done when market condition changes.

Finviz Scan:
Bull Scan:
Optionable stock.
Price > $20.
ROE > 10%
Price < SMA20.
Price > SMA50
Price > SMA200.
Average volume > 500,000 (Adjustable if too many stocks)
ATR > 1.0

Bear Scan:
Optionable stock.

Price > $20.

Price > SMA20.
Price < SMA50
Price < SMA200.
Average volume > 500,000. (Adjustable if too many stocks)

ATR > 1.0

Rules (For filtering too)
Never trade outside TAZ (EMA30, SMA10), except if SMA50 is historically a strong support/resistance.
Buy only if W%R(10) is oversold, sell only if W%R(10) is overbought.
Wait for candlestick confirmation even if in the Supply or Demand Zone.
Confirmation will be based on open/close/high/ low depending on candlestick pattern.
Watch for price reversal at 50% retracements of daily Engulfing patterns, Piercing pattern and dark cloud covers in 5 min chart.
No volume analysis. (Guppy's theory of Volume following price)
Make sure the trend is confirmed with nice GMMA.
Long when SPX is up. Short when SPX is down.
Exit trade only when stop loss is hit or target is hit. We want to see how far the trend last or how soon the stop out is hit. (This calculation is in the excel)
Price should move after Candlestick Reversal pattern. If they don't, cut the trade after 3 days.

Bulls Scan Results
NA

Bears Scan Results
NA

Review (Watchlist)
Bulls

1. AXP - 8/12/09: Entry $39.62. Target $41.93. Stop loss $38.73. Now $40.52. - Losing strength.
   
2. MEE - 9/12/09: Entry at 36.36. Target $42.81. Stop loss $35.23. now $42.01. Broke our of pennant and previous high. Pennant target is $50.46. This is the first time I saw Pennant breakout. Not sure if the target is reliable or not. Will stick to Fibo extension target.Target hit on 23/12/09.. Continue to monitor to see if pennant target is reach. Relative strength still present.
   
3. HUM - 10/12/09: Hidden Divergence - Red Spinning top and doving pigeon. Now $43.89. Relative strength still present.
   
4. MCD - 9/12/09: Spinning top. Price bounce from SMA50. Now $62.44. Relative strength broken down.
   
5. V - 9/12/09: Bullish Engulfing but no T30, swing trap or ghost town. Price continue to move up. Now $87.46. Relative strength still present.
6. BHP - 9/12/09: Entry at $73.69. Target $78. Stop loss $71.16. Now $76.58.Relative strength still present.
7. CL -21/12/09: re-Entry $83.01. Target $86.68. Stop loss $80.95. Swing trap pattern. Bullish divergence. Now $82.15. Losing strength.
   
8. SINA - 10/12/09: Entry at $44.27. Target $47.95. Stop loss $42.57. Now $45.18. Losing relative strength
   
9. RIMM - Broke out of downtrend upper resistance with high volume. Price pulling back. Earnings gapped as expected. Continue to monitor. Now $67.54. Relative strength present.
   
10. UGI - Price broke SMA200 resistance and downtrend channel resistance. Now $24.19. Doesn't look like uptrend can hold. Form mini double top with bearish engulfing. Red candle pierce all the way pass SMA50. Drop counter.
    
11. CNI - 18/12/09: Price gapped down into SMA50-EMA30 zone. Spinning top. now $54.36. - Relative strength up.
    
12. UNG - Broke SMA50 resistance. Waiting for pullback to TAZ. Now $10.08. Relative strength still up.
    
13. UUP - Broke out of downtrend channel resistance. Waiting for pullback to TAZ. Now $23.08. - Bearish Meeting Line
    
14. ESRX - 17/12/09: Strong SMA50 support. Harami. Gapped up and end session with shooting star. Now $86.42.
15. MHS - 17/12/09: Did not enter as price gapped too far. Risk is too much. Now $63.91.
16. AMZN - 18/12/09: Did not enter as price gapped too far. Risk is too much. Now $134.52.Relative strength up.
17. ZMH - 18/12/09: Price open near previous close and continue to move up. Entry $59.01.Stop loss $57.49. Target $60.54. Now $59.11. Relative strength still up.
    
18. EL - 23/12/09: Bullish Harami but very near to 52w high area.Entry at $48.09. Stop loss $47.51. Target $50.39. Now $48.36. Head and shoulders?
    
19. POT - 23/12/09: Bullish Engulfing. Possible entry $111.12, $109.06. Stop loss at $108.98 (50% of engulfing candle). Target $123.73. Now $108.50. Danger: Price not moving up.
20. CTRP - 24/12/09: Piercing Pattern. 1 day late. Doji + spinning top. Wait for it to form mini double bottom. IYC is moving up but CTRP is down. May have weakening Relative Strength. Now $71.86.
    

Bears

1. JPM 22/12/09: Spinning top. Now $41.56. Entry $41.79, stop loss $42.28, Target $40.09. Now $41.67.
2. MUR - 28/12/09. Bearish Engulfing. Entry at pullback to $55.69 or break $54.81. Stop loss $56.6 or $55.69. Target $52.68. Earnings is near. 29/12/09: Entry at $54.81. Stop loss at $55.69. Target $52.68. Not the best entry but will just monitor to see if direction is right. Now $54.20..
   

Net: +$469. (Details pls see table)

Regards,
Lewis
Reference: www.swing-trade- stocks.com