This site is all about finding CANSLIM stocks to buy. As I mentioned in an earlier video, there is no reason to reinvent the wheel. When you are new, do what the masters teach you. Master what they teach first and then fine tune it based on your experience. The Investor's Business Daily is one big CANSLIM stock screener that bring stocks you might want to buy to your attention. Use them. They usually have some of the best stocks to buy right now in them.
Let's see what is available each day.
Stocks On The Move
The stocks on the move screen highlights stocks that make price moves on higher volume. This is a sign of institutional sponsorship - a key component of a stock's ability to go up significantly and the "I" in CANSLIM.
Stocks In The News
The stocks in the news screen highlights stocks that are close to potential buy points. When you are learning how to buy stocks, the hardest part is identifying the pivot point - or the ideal entry point. These stocks are close to buy points and there is a chart for each stock that also sometimes gives you the pivot point so you can learn how to find it. The mini charts are a great resource especially if you don't have a subscription to the Daily Graphs feature of IBD.
New Highs
Stocks making new 52 week highs can also contain some of the best stocks to buy. Stocks that skyrocket in price have to make new highs many times. Keep an eye on this list for potential winning stocks.
Timesaver Table
This screen highlights stocks that make big price increases and is worth a look. Personally, I prefer the stocks on the move screen as it's a little easier to cherry pick the bold stocks. O'Neil devised it for it's ability to save you time. If you only have a limited time, refer to this screen.
On investors.com you can also find some good stocks to buy that meet CANSLIM criteria. There's the screen of the day for one. Also don't forget that stocks mentioned in the Big Picture column or on the front page are also great CANSLIM stocks. Because of that, you might want to add them to your watch list as well. Other popular screens are the IBD 100, the Weekly Review, the IBD 200 and the Big Cap 20.
In the end though, the best part of the Investor's Business Daily is the number of ideas it generates. This can cause information overload. That's why I suggest that when you are putting together your stock market investing routine, that you focus on one screen only. It makes your job that much easier and if you are a beginner that's a big deal.
Right now, I am tracking my progress. It's called Buying Stocks - A Case Study. If you want to follow along here are some previous posts you might have missed.
Buy Stocks: Where I Started
Buy Stock: Follow The Leaders
How To Buy Stocks
Stocks To Buy Today
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