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Kayla
Posted : Thursday, April 28, 2005 9:50:57 PM
Registered User
Joined: 3/5/2005
Posts: 3
I want to construct a scan to identify potential shorts by defining stocks
(1)between $10-120 in price
(2)whose price is down today between 2% and 10%
(3)whose volume today is greater than the average 50 day volume.

Any suggestions as to how to do this or where to learn more re this.

Thanks so much,

Glenn
Craig_S
Posted : Friday, April 29, 2005 1:26:05 AM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819
Create a PCF called Volume VS 50-day Average with the following formula:

V/AVGV50*100

Calculate your PCFs and create a new EasyScan.

Add this condition and set it to values of 101 to MAX

Add Price Per Share and set it to values of 10-120

Add Price Percent Change Today and set it to values of -2 to -10

Here are some videos on PCFs and EasyScan to help you out:

How to create a Personal Criteria Forumula (PCF)

Using EasyScan to find stocks that meet your own criteria

- Craig
Here to Help!
usertm
Posted : Friday, April 29, 2005 12:00:46 PM
Registered User
Joined: 11/13/2004
Posts: 141
This scan is very similar to a couple of scans that I use to look for percent gainers or loosers, so one note that I have to add is that the way the scan is written above it will produce lots of results, likely too many, so in my scans I reduced the number of results by tightening the price range, $10.00 - 50.00, and I changed the lower end of the percent change to 3%
I also added to my volume PCF, a criteria that todays volume is greater than the day before (V>V1)so I can catch percent gainers/loosers that are also moving on stronger volume

Even with this I often times still get in excess of 100 results, so I then use a watch list tab to sort by percent change, and then scroll through the list with the biggest movers first

UserTM
Craig_S
Posted : Friday, April 29, 2005 12:03:12 PM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819
Because of the quick and easy sorting in TeleChart, I never worry about a scan finding lots of stocks. I will just sort and resort the WatchList and look at as many charts as I can.

Create your own stock rankings using WatchLists and Sort conditions

- Craig
Here to Help!
Kayla
Posted : Friday, April 29, 2005 10:10:55 PM
Registered User
Joined: 3/5/2005
Posts: 3
Craig and UserTM.

Thanks much for the notes. Very helpful, and I think I got it.

Glenn
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