[JimStudent]

...continued for the short watchlist

Hi Isatrader, It looks like you are using Stockcharts. If you are using Stockcharts, what are the parameters you use for your short scan?

Thanks,
Jim

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isa you mention the weight of evidence and the % of stocks in stage 3 and 4 being larger than 1 and 2. Can you point me to that? I would like to follow that for sure and think I overlooked it, or is it presented as something else?

gbarbs, In Stan's book, "Secrets for profiting in ...." on page 78 there is a footnote that answers your question.

footnote - "Each week I calculate the percentage of stocks on the NYSE in Stages 1 and 2 - this is the total that is charted versus the DJI. A quick shortcut that produces and excellent "Gallup Poll" for all 1500- plus NYSE stocks, however is to simply do this exercise for the Standard and Poor's groups. This is just one of 50 technical indicators that make up my "Weight of the Evidence" in the Professional Tape Reader."

Using Stan's gallup poll exercise it clear to see most of Standard and Poor's groups are in stage 3 or 4. (Also from Stan's footnote it is not hard to scan the 30 stocks in the Dow and see what is below the surface of the Dow - currently a quick look says 28 of the 30 stocks have broken the 30 week moving average.)

I thinks we see the same thing with Isatrader's post about the number of stocks trading below their 150 and 200 day moving average.