I’ve subscribed to StockFetcher for over a month, but just really started testing it out over the last week (luckily it only costs $8.99 monthly for the standard subscription). There are many great scans created by others to generate watch lists based on various screening criteria; I’m going to post links to some of my favorites once I use them a little more. However, there are three calculators (one stand alone application and two StockFetcher codes) that can be used to predict the behavior of specific stocks – all of them from The Daily Vento.
1) Co-Relation Calculator ~ Credits: Johnny Vento/RamtaJogi
You can download this snappy gadget and plug in a stock symbol, and out comes stats on how closely the particular security follows the overall trend of the Dow Jones Industrial Average. Should you play a potential breakout on a stock that tends to go along with the Dow – which is tanking? YngvaiMalmsteve has many posts on his blog about putting this tool into practice.
2) Gap Stat Calculator ~ Credits: Johnny Vento/SlowPoke
This StockFetcher scan will identify how many times a specific stock gaps up or down in the last 100 days after gaining and losing 10% in price. You can change the stock and price percentage in the first lines of the code. This is important info if you are thinking about holding a stock overnight.
3) Support & Resistance Calculator ~ Credits: Johnny Vento/DavidH
Another handy code from JV, this one will identify intraday support and resistance price points based on average day range. You can plug in multiple tickers to get the calculations for more than one stock at a time.
So in the next week, I hope to put these more into use when making decisions about entering and exiting trades – now that I’ve posted about them. One of the main purposes of this blog is give me a chance to write about things I’m learning and really help things sink in.