Macroscreen
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The following four points are part of the macroscreening process:
1. Identify the trends of the S&P 500 and the Nasdaq markets.
2. Identify three to five top sectors.
3. Identify five stocks in each of these sectors that exhibit the
most overbought conditions.
4. Identify stocks in your own computer database that exhibit
the most overbought conditions. This will be accomplished
by using an overbought filter. This filter will enable you to
scan your database on any given day in search of stocks
that may soon become excellent candidates to short. My filter
can be found in the MetaStock software from Equis International.
A very important point: Stocks that are overbought can remain
in an uptrend for an extended period of time. After you have identified
stocks that are overbought, you need to analyze each one for
signs of potential bearish trend reversal. You are looking for
microtrend and intraday candidates. Remember, not all stocks are
equal when it comes to bearish potential.
The following four points are part of the macroscreening process:
1. Identify the trends of the S&P 500 and the Nasdaq markets.
2. Identify three to five top sectors.
3. Identify five stocks in each of these sectors that exhibit the
most overbought conditions.
4. Identify stocks in your own computer database that exhibit
the most overbought conditions. This will be accomplished
by using an overbought filter. This filter will enable you to
scan your database on any given day in search of stocks
that may soon become excellent candidates to short. My filter
can be found in the MetaStock software from Equis International.
A very important point: Stocks that are overbought can remain
in an uptrend for an extended period of time. After you have identified
stocks that are overbought, you need to analyze each one for
signs of potential bearish trend reversal. You are looking for
microtrend and intraday candidates. Remember, not all stocks are
equal when it comes to bearish potential.