This review is part of my extensive stock screen review series: Stock Screens: The Ultimate List of Web Based Screening Tools

Watch my Video Review of Dojispace

Free Candliestick Pattern searches Very responsive to feature requests via the forum Interesting if not very useful Stock Training Tool	Site layout is very amateurish  Google ads are very distracting Advanced screener requires 10 posts per month in the Dojispace Forum Usability is not as good as competitors Basic technical scans aren't clear Lacks Graphs in Bulk Feature

First, let me give credit where credit is due. I put this screen together after reading an article by Blain Reinkensmeyer on StocksToGo.com called: 3 Shorting Strategies Using Technical Analysis

Of the 3 shorting strategies, I decided to build a custom screen for finding stocks that trade down to fresh new lows after a huge gap down day (number 3 in Blain’s article). In concept, this is a screen for a bearish flag, a well known and profitable stock chart pattern.

StockFetcher 2.0 Stock Screener Setup

To run this screen, open http://www.stockfetcher.com/, and click on SF 2.0

Show stocks where close is above 5
and average volume(30) is above 250000 do not draw average volume(30)
and open 2 days ago minus close 3 days ago is below -3%
and close 2 days ago is below open 2 days ago
and draw ppo(8,24)
and draw aroon up(20)
and draw aroon down(20)
and draw williams %r(20)

There are a two items you can adjust. First, you can adjust the number of days in the past where the gap occurred. Second, you can adjust the size of the gap by adjusting the “below -3%.”

Technical Short Screen Results as of Today
BG
PETD

I wanted to show you a chart I found of BG as a result of running this screen:

Marketclub Smart Scan Score

	-10		Last Hour Close Below 5 hour Moving Average
	-15		New 3 Day Low on Thursday
	-20		Last Price Below 20 Day Moving Average
	+25		New 3 Week High, Week Ending August 8th
	+30		New 3 Month High in August
+55		Total Score

TYL Video Transcript

Steve Warshaw: [0:08] Hello, this is Steve Warshaw, the Trade Detective, and today I’m making a short pick based on the MarketClub Trade Triangle Search Technology. So, what I want to do is I want to go ahead and click on the ‘Recent Trade Triangles.’ In here is a list of the trade triangles. What I want to do is I want to search for new trade triangles as of today. [0:33] What I am going to do is, I’m going to select ‘Monthly Trade Triangles,’ because I like to use the monthly chart to determine the trend of a stock. Then what I’m going to do is I’m going to go search, and I’m going to only search for today. Then I’m going to hit ‘Scan.’ And here are today’s monthly trade triangles.

[0:54] Now, I’m bearish on the market. I’m looking for a bearish pick. And so, what I’m going to do is I’m going to focus on these stocks that have a score that is -90 to -100. A few of the things that I filter for are, I want stocks that are greater than $5, and I want stocks that have a minimum trade volume of at least 250,000 shares. Immediately that filters this list down to here, which is Phase Forward, Inc, we have Tyler Technologies; and that’s about it.

[1:28] Now, the stock that I’m going to analyze today is this Tyler Technologies, TYL. So, I’m going to go ahead and open the chart for TYL.

[1:38] OK, now here’s the chart for TYL. You can see with the trade triangle that at $15.04, we have a negative monthly trade triangle. Now, it hasn’t shown up on the chart yet, but it will. Tomorrow, you will see an M pointing down right here on this candlestick. And, this is a monthly chart, like I said, because I like to use monthly charts for the trend. And what we can do is see a few things in this chart that are very negative.

[2:10] First of all, what we can do is, I’m going to draw in a trend line on the Mac D here. Oops, I grabbed the wrong tool. Let me get rid of that. OK, so here’s the trend line. As you can see, the Mac D has a negative, or decreasing value. But, what you can see here, if you start from the point of the Mac D and you look at price, clearly price has gone up. So, the first thing that you have in here is a negative divergence in the Mac D on the monthly chart.

[2:47] OK, so now, I’m going to switch to the weekly chart. It’s very easy to do; you just come over here and select ‘Weekly’ from the drop down. And I’m going to go ahead and scope this in so we can see what’s going on here a little bit. I’m going to go ahead and move this out of the way. Now, there’s a few things that you’ll see right away here. The first is that there’s an obvious overhead resistance right around in here, you know, plus or minus a few cents. You can see there’s a really strong resistance going on in this chart at this level.

[3:23] You can also see that there is a rising wedge, and I will go ahead and draw that in from here to here, so in here there is a nice rising wedge on the weekly chart. And we are, at this point, there we go; at the point of breaking through the bottom of this rising wedge. That is also very bearish. Combined with the -100 score and the new monthly trade triangle negative, and then this final bit, which is today, as of today, we now have, right here, a bearish cross on the Mac D on the weekly chart; all sell signals.

[4:05] So, how low do I think this can go? Let’s go ahead and take a look. I’m going to go ahead and draw in, I’m going to get rid of all of the trend lines here, and I’m going to go ahead and draw in our Fibonacci. And I want to start from the very low and go to the recent high, and here we go. Right now, we’re approaching the 38.2 percent level, and I would suspect that there’s going to be some resistance right here at $15, or some support right here at $15. You can see that that’s acted to support before. Should that break, should $15 break, I believe that we’re going to go all the way down and touch this 61.8 percent retracement level on this particular stock, all the way down to $12.82. So, that would be a price target.

[5:01] If you wanted to set, once it breaks through, if you wanted to set a nice stop loss, what you could do is use this Fibonacci level at – let’s see if I can make it easier to see here – it looks like it’s at $15.89.

[5:21] So, let’s go ahead and draw in what I think we should do. First of all, target is $12.84. And stop at $15.90. So, I recommend going short. If the stock closes below $15, with a target of $12.84, and a stop of $15.90; for a profit of $2.16 per share. On a $15 stock that’s pretty good. In fact, that’s about 14 percent, so not a bad trade.

[6:10] That’s it. That’s my short tip for today. I hope you enjoyed this video and I look forward to hearing from you on the blog. Take care.

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You can download the RAMP software by clicking on the following link:
RAMP Software Download

Marketclub Fibonacci Trading Educational Videos

• Analyzing Crude Oil and Gold Commodities with Fibonacci Retracements

Hello, this is The Trade Detective, and today I wanted to show you a free trial of a stock scanning tool with a very powerful and unique feature set, and that has the ability to run a fibonacci retracement level stock screen. I’m making this video on the back of the video that Adam Hewison at Market Club did today about fibonacci retracements in the market.

For those of you who are unfamiliar, the fibonacci retracement levels are used for several things. It can be used for setting profit targets, and stop losses, and entry points and looking for areas of support and resistance in the price pattern of a stock.

So, it would seem to me that if you had the ability to scan for stocks using the fibonacci retracement levels, bearish and bullish, that you would have yourself a very powerful trading tool. So, I did a little research on the Internet and what I found was this tool here.

Let me make it so you can see the web page. The name of the tool is “Ramp”, and the URL is here. I’ve highlighted it on the top of the screen. It’s very easy to install. You just click on the “download now” button, and just follow the instructions on the page.

This is a trial. Obviously it will run out at some point and you’ll have to pay for the tool. But, at least at first you can give it a chance to use it and see what the capabilities are.

So, what I’ve done is I’ve already installed the tool. This is what it looks like here. What you can see is that you can do several things with this particular tool.

There are some settings you can set to refine what really is a fibonacci retracement level and the pivot points that are associated with retracement levels. You can ask it to search on and display the 38, 50 and 62% retracement levels as well as extensions.

You can do a search for bullish and bearish retracement levels by clicking these find downward or find upward retracements or extensions. So, what I’m going to do is I’m going to run the upward retracement and I’m going to hit “run/scan”.

OK, the scan is run. Just real quick, what I wanted to show you is that this data is the closing price data of the stocks in the S&P500. I haven’t looked to see if you can add a different data source or add symbols that are not in the S&P500, but I’m fairly sure that you can. It gives you the option to select a symbol list. So, my guess is that you should be able to select whatever you want.

In either case, the scan has run. It has found several stocks. You can see the list here, and what happens is, is it produces a list of stock charts. You can see the retracement levels. Let me make this a little larger. OK.

So, you can see the retracement levels. This is AFL, and you can see that it is just broken through the 38% retracement level. Typically, when you see something like this, it means that the stock has got some room to run. You want to look at other factors, but this is just the price pattern.

There’s not a whole lot to see in this particular one right now, but depending on what the pattern is you might see it go to 62%. If it breaks 62%, then you could say maybe this downtrend is now reversed and is becoming a bullish trend. You can do that for all these other stocks.

Here’s another one that’s hit the 38% level. Here’s one that has broken all the way up to the 50% retracement level. So on, and so on. Here’s one that looks like it may be trying to, this is Maskill Corporation, that’s trying to get out of this long term down trend and go bullish.

If it were to break and hold above this 62% retracement level, you could ride this thing from about 15; in fact it’s at 14.99, so about 15 all the way into the 20’s. So, that would be a really nice game there based on a simple stock scan.

There are many ways to use fibonacci retracements. I highly recommend looking at some of the videos that Adam Hewison has done on MarketClub.com, and I will include those links below the video. So, go ahead and take a look. Take care.

This is the second stock screen review in the series: The Ultimate List Of Web Based Stock Screening Tools

Video Transcript
Hello, this is the Trade Detective. And today, I’m going to be doing the next review in the ultimate list of web-based screening tools. And today’s screening tool is the MSN Custom Search.

The MSN Custom Search is a fundamental-based search, and it’s actually the most simple screening software that you can use on the Internet. This is how works. If you click on a link, for MSN Custom Search, this is what you’re going to get. And it allows you to search by industry and fundamental data.

So for instance: market cap. Is it listed in the Dow Jones Index, in the utilities, transport, or industrials? Is it listed in the S&P. And then a bunch of fundamental financial indicators: Does it pay a dividend? What’s its price-to-earnings ratio look like? What’s its relative strength in comparison to other stocks? How is their revenue growth?

So of course, there is no such thing as a perfect stock screen; there’s always going to be some analysis on your part of that particular stock. So let’s go ahead and execute one and we can take a look at the results.

So what I have here is, I did “Industry All”. What you could do here is, you could do some sector rotation theory and do some analysis on particular industries and sectors to see what’s hot right now. And you can filter down to stocks that are performing well.

For instance, we can do “Recently” Oil and gas has been doing pretty well. Let’s see, oil, gas and drilling, just for shenanigans. We’ll do “Any Market Cap”. We want a high dividend yield, and we want to have good revenue growth, and low debt. So we’ll go ahead and do a search.

Now this is obviously a bullish search, and you can see that it has come up with four different stocks. Once again, as a technical trader, the big deficit that MSN search has is it does not give you the ability to look at the chart for these stocks in bulk. In other words, what I would like to see is maybe a little button here that allows you to go directly to the chart, and then maybe a button over here that says “View Chart in Bulk”. And that way, they could have a little thumbnail of the charts.

What you can do–obviously, it says drilling and exploration. It’s listed on the S&P. Here’s the debt to equity ratio, here’s the current dividend yield, and here’s their revenue growth.

To me, the two best stocks would be ESV and DO. This one has very low debt. And it’s having pretty good growth, and its paying a good dividend. This one has a little bit more debt, but its dividend yield is very high and it’s got great growth. So you could do Diamond Offshore Drilling, and if you’re a fundamental analyst you would expect to see this chart, at least as of recently, be very bullish.

Now, you can see that the stock’s scouter rating which is the MSN proprietary rating for stocks is a 10, and which is as high as you can get. So this, fundamentally, is a very sound stock. You can quickly look at the stock price history and it says that over the last three months, its gained 17percent and over the last six months it gained 48 . Of course, over the last year it’s down off of its highs.

A bunch of other fundamental data, and of course, you can hit the charting button, and you get a basic chart of Diamond Offshore Drilling. This is one year to date, and sure enough, over the past six months it’s gone from a low of 55, and it’s headed back up to the century mark.

That’s the basics of the Custom Search. It’s very basic, and it can find you some stocks that may not be necessarily in a great pattern or technically ready to buy, but that are fundamentally sound, and a good place to start adding long-term type investments into your portfolio. Not necessarily trades, but long-term investment.

This is the Trade Detective from the tradedetective.com, and I hope you found this useful and stay tuned for more reviews of the ultimate list of web-based screening tools. Take care.

Facebook, Linked-in, MySpace, and Twitter: Social networking has permeated throughout the web, and now has made it into trading as well.

This is very good news for traders of all levels. Trading communities are forming all over the internet, giving you the opportunity to ask quesitons, test theories, and learn from other people’s mistakes and experiences.

There are new social trading communities popping up all over the internet, but I thought I’d stick with some of the larger, more established sites at first, with more to come later.

The first sites to be reviewed are:

• Clearstation
• ZeccoShare
• UMOO

Why Should I Join a Social Trading Community

The benefits of social trading are numerous, so I think it best to focus on a couple of benefits I’ve seen in some of my friends trading careers.

From a psychological and physical point of view, full time trading can be very taxing. Many full time traders spend 12+ hours a day sitting in a chair staring at a computer screen sifting through endless amounts of news, charts, and other investing related information. Have you ever seen a day traders “station?”

The cumulative effects of a sedentary, stressful profession combined with extended periods of isolation take their toll. Professional traders and novice traders alike benefit from social trading simply because of the social interactions that take place, reducing stress, and providing a level of camaraderie.

I know what you’re thinking… These aren’t trading benefits! Ok, you’re right, but the previous point is always something to keep in mind.

Benefits for the Trader:

The single biggest benefit social provides for novice traders is the opportunity to slow down, and avoid making rat brained trading decisions (see my article: 13 Essential Benefits of a Stock Screening Strategy). The markets will tempt you; you will at some point throw your trading plan into the wind and make avoidable trading mistakes. Everyone does it at some point in their trading career.

Finally, social trading will help you diversify your trading strategies, develop your trading plan, and to become a better trader. You will meet people with similar interests, yet vastly different styles. You will find tips and tricks that make sense to you which you can integrate into your methods.

How To Best Use The Communities

I have found a great number of stock screening ideas just by reading the conversations between other traders on Clearstation.com, and have vastly simplified my technical analysis strategies by listening to people on the Ino.com Traders Blog (affiliate link).

I highly recommend you jump right in and begin studying prominent members of the communities. Don’t be afraid to create a profile for yourself, and then post / private message them. Most of these members are very active, and are happy to help a new member who is willing to learn.

Participate in the conversations, make trade recommendations, and ask the people who you converse with to critique your trading decisions and decision process. I also recommend virtual trading your picks and keeping a journal of your lessons.

This is the first stock screen review in the series: The Ultimate List Of Web Based Stock Screening Tools

On of the things that I’m going to try to do as The Trade Detective, is to keep up with all of the available stock screening technologies available on the internet.

So here is my plan. This post will be updated frequently with as many of the the latest internet based screening tools as I can find.

I will try to post a video review of 1 to 2 of these tools each week, and I will put a link to the review next to the link to the screening software on this post.

Ideally, The Ultimate List of Web Based Screening Tools will be a great place for everyone to discuss and debate the strengths and weeknesses of these tools. I plan to get a discussion forum working in the future, but for now, please leave some comments, suggestions, and feedback.

The Ultimate List Of Web Based Screening Tools

In my last couple of posts, I stressed the importance of simplifying your trading. Well, today I wanted to show you a perfect example of what I am talking about. This stock screen and trading strategy takes no longer than 3 minutes to run and analyze. You could easilly add a new stock to your watch list or portofolio, just that fast.

As you continue to follow me on The Trade Detective, you’ll find that I incorporate the work of traders whom I respect into my trading efforts. Adam Hewison of Marketclub.com is one of those traders I think everyone should follow.

Stock Screen: Marketclub New Monthly Triangle 

If you are unfamiliar with Marketclub Trade Triangle Technology, you are in for a real treat. Simply, elegant, and incredibly accurate, the trade triangles present a very simple yet effective trading system. Adam has created a video detailing how to use the stock screen, and even shows you his simple method of applying fibonacci retracements to the stocks returned by the trade triangle stock screen.

For those of you who are not complete newbies, this screen and trading strategy is going to feel too simple. You won’t see a complex combination of indicators that need to be analyzed, or any other hocus pocus. What you will see is a complete strategy to incorporate into your trading plan, and to utilize or update as you please.

For example, I like to use the MACD to filter the trade triangles when a new weekly triangle condradicts the overall trend (monthly triangle). If the macd supports the weekly triangle, that is a solid sell indicator, and vise versa.

So take about 5 minutes and watch the video, and, please leave drop me a comment with your feedback.