Monday, July 19, 2010

What Stocks Should I Buy Right Now

Tags

While I was working today and thinking about how people ask me all the time what stocks should I buy right now. I talked a little about this in my recent posts Stocks In Uptrends. As a result of spending some time thinking, I wrote a post on How To Screen For Stocks Using The IBD today. I thought that would help people get a handle on exactly what they need to know to find potential winning stocks to buy.

Screening for stocks is half the equation though. Once you identify stocks that are fundamentally sound, the next step is to make sure that they are technically sound by analyzing their stocks chart. For now, though, I am going to focus not so much on what stocks you should buy, but what stocks you could buy if the timing is right. Let's get into some stocks that might make good candidates based on the what hit our stock market investing radar today.

  1. Stocks reaching new 52 week highs - TLP, EPD, NRGP, EEQ, JKS, EPE, EC, VRX, ADTN, WINA, CVU
  2. Stocks with heavy volume - WHR, MMP, WPI, KWR, ADTN, PSMT, ALTR
  3. Stocks trading within 15% of their 52 week highs - ALTR, CRVL, DTV, BOOT, LCAPA, LSTZA, MNRO, SWKS, VLTR, XLNX, EPE, NRGP, TLP, BBD, ABV, MMP, NEM, PPO, VQ, WPZ
  4. Stocks with strong price action - WINA, CTSH, XLNX, VMW, ADTN, MELI, PCLN, JKS, CRVL, BCH, AZO, EPD, CVU, KWR, TLP, EPE, HDB, DLB, PII, NRGP, APEI, XEC, TSCO, CPLA, MICC, CMI, EEQ
  5. Stocks with earnings increase over 25% and accelerating - None

Now that I've scanned the market for stocks that might meet my criteria, these will deserve further analysis. The next step for me is to check these stocks for:
  • EPS Rating > 80
  • RS > 80
  • SMR Rating of A or B
  • Accumulation/Distribution A or B
  • Group Relative Strength A or B

The ratings above are the IBD's ratings and if will eliminate more of the stocks above.

That's about all I have time to do today, but this will  continue to build on what we've started and I'll work on streamlining it further as I go along. Within these stocks you might find some good stocks to buy but a final reminder that they need further analysis to be sure.

Related Article

Stock Market Investing Today

Stock Market Investing Today - Smart Investing.


EmoticonEmoticon