Hi Everyone
Your regular routine should only take a few minutes. Once in a while you may want a more thorough look at the market, but essentially it should be as follows:
1. Check the OVI Express40 stock chart to see if any patterns are forming the way we like them to.
2. If you have FlagTrader, perform a very basic search on the TradeFinder.
For FlagTraders, here’s a quick search I’ve done today. Observing that the indices are rising, I focused my first search on bullish stocks, and because there were so many choices, with limited time I whittled my search down as follows:
* OVI positive for 5 days
* OVI extreme positive reading today
* S&P 500 stocks only
* Average Volume > 1,000,000
* Open Interest > 500
FlagTrader TradeFinder Filters
From those filters I was only left with 20 stocks – very manageable. And from those 20, a few have caught my eye.
HES
Nice bull flag and OVI combo here for this oil stock. The best looking and with most potential from the three I’ve highlighted here. Needs to break out past its flag high, say above $50.43+.
LMT
No flag but nicely up-trending stock here. Notice the move was started by the Doji bar back in June. This stock is right at resistance now, formed by the April high.
VLO
Cup and handle formation with persistently positive OVI. Not one for making millions but a good setup.
All the best
Guy