Stocks To Buy Now
59Hey it’s The Banker here and today I wanted to talk about how to find good stocks to buy now. As you know, I’ve been running an experiment here finding stocks that have broken out on a 2% price percentage change and 100% volume change. This gives me a handful of stocks to review further based on earnings, sales and the IBD SmartSelect ratings. I’ve been adding stocks that meet all of my CANSLIM criteria to my watch list. So far, three have popped up.
Rather than wait on these stocks to break out, I thought that instead of sorting through them based on price and volume, I would start my search on earnings and sales. In this case then, I looked for stocks that had at least 25% or more in each category.
Is this a good stock to buy now? Only time will tell.
Links to other stock market hubs
- How To Buy Stocks: A How To Experiment
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According to William O’Neil, these are two of the top screens you should use to pick stocks to watch for breakouts to find the best stocks to buy right now. Once the big money moves in and and starts buying, you follow along with it and exit when it does. Well, that’s the theory anyway. It takes some practice to learn the chart patterns like the flat base, the cup with handle and the double bottom. Anyway, once you’ve identified these types of stocks with strong earnings and sales, start looking at the charts.
Here are today’s stocks with strong earnings and sales.
CAAS, MED, LPSN, GMCR, MLNX, PCLN, LULU, ISRG, EZPW, CHBT, OSIP, BIDU
Each of these stocks have earnings and sales greater than 25 percent, making them and excellent place to start your search. Does this mean these stocks are the best stocks to buy now? No. But, they have more of a chance than others. That’s the one thing that you’ll discover about the stock market. Some stocks go up for no good reason. You just try and be in the right place at the right time.
OK. Now, what I need to do is check the stock checkup tool and see if the other characteristics are there like the 3 yr average EPS and ROE to name a couple. If they do, then I’ll put them on my watchlist.
Getting back to my experiment, I screened for my stocks today and here are the results for the day.
Stocks up 2% in volume, 100% in volume and over 100,000 in volume
LINTA, CHOP, ROVI, JOEZ, KCI, AKAM, FSIN, HSNI
Stocks with earnings and sales over 25%
CHOP, JOEZ, HSNI
Stocks with the best SmartSelect ratings
No stocks passed the test today.
For my simulation, I opted to purchase CHOP to see if it turns out to be one of the few good stocks to buy now. In the meantime, here is a spreadsheet of my buying stocks experiment.
