The New Stockscores Site and the Sentiment Crossover Strategy
Stockscores.com Perspectives for the week ending September 19, 2004
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In this week's issue:
The New Stockscores website was launched this week! While the transition to the new site was not exceptionally smooth, the feedback we have received has been very positive. A cleaner look, more tools and more efficient operation will make your Stockscores experience even better. However, we have a few bugs to get worked out over the next week or two before it is running perfectly. We thank everyone for their patience while we get thing working properly.
This week, I wanted to discuss a few things that you may not know about the new site, and address some of the more common questions that I have received this week:
Portfolios
All of the portfolios that may have set up on the old site have been transferred to the new site now. It took an extra few days to complete this process (there were hundreds of thousands of records to move) but they are there now. However, they are not in the Portfolio area, but can instead be found in the Watch List Creator tool. The new Watch List Creator tool is more like the old Portfolio Tool, while the New Portfolio Tool has extra functionality that allows you to better track your investments. We will be adding some functionality to the Watch List Creator to make it easier to see all of your Watch Lists at once, and there are a few minor bugs that will be fixed soon.
Logging In
The log in criteria have changed, it is now necessary to enter your username and password exactly as they were registered. That means you have to use capital letters if the password was originally set with capitals. If you have forgotten your username or password, we can send it to you when your log in attempt fails, based on your email address.
The security on our site has also changed, you can now only be logged in to Stockscores on one computer at a time. If you wish to have multiple windows open to Stockscores on the same computer, you must do the following:
1. Open an Internet Browser (Internet Explorer works best)
2. Log In
3. Once logged in, hit the CTRL key and the N key at the same time. This will open another browser on the same log in session, allowing you to have more than window open to Stockscores on the same computer.
Membership
It is now possible to subscribe to some of the tools on Stockscores.com for $29 (CDN, approx $22 US) a month. There is a 14 day free trial available so you can try out tools like the Market Scan, Stock Alerts and Sector Watch. If you do not cancel the trial before the end of the trial period, your credit card will automatically be charged $29 each month. Cancelling the trial can be done online simply by going to the Manage My Account on the My Stockscores page. For more information on the Membership levels and trials, go to:
https://www.stockscores.com/products.asp?page=membership
Daily Newsletter
I am now offering my daily stock market newsletter, Perspectives, to the general public. Each day, I discuss the overall market and where it is likely to go as well as pick individual stocks that are worth considering. A 14 day free trial is also available for the newsletter, with more information and back issues found here:
https://www.stockscores.com/newsletters.asp
Free Market Scan and Basic Strategies
Some Basic Strategies for using the free filters of the Stockscores Market Scan tool can be found in the Getting Started, Strategies area of the site. These describe strategies for identifying potential market opportunities using the Stockscores and the Basic Market Scan tool.
User Guide
An online User Guide is available to show you how to use the new Stockscores site. It will be finished in the next few days, but many of the tools are described there is detail. It can be found under the Getting Started, User Guide menu on the Toolbar at the top of the page.
Getting Started
For guidance on how to effectively use the new Stockscores web site, go to the Getting Started menu for informative essays on the Stockscores Approach and the website. The Stockscores site delivers great value for investors and traders making their own investment decisions. Simply take some time to learn how it all works!
If you have any feedback to provide to us, please do so using the Technical Support feedback form in the About Us menu.
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Stocks go up in price because investors are willing to pay more. Investors tend to buy companies that they are optimistic about, so it is important to measure whether investors are generally optimistic or pessimistic about a company. Stock charts can provide many clues about the mood of the market. For example, rising bottoms on a stock chart indicate greater enthusiasm among buyers than sellers.
The Sentiment Stockscore considers these kinds of chart pattern factors, and provides an indication of whether investors are showing optimism or pessimism. I have found that stocks that have a Sentiment Stockscore moving through 60 and rising tend to continue to rise as investor optimism carries them along.
The Sentiment Crossover Market Scan seeks stocks that have their Sentiment Stockscore crossing in to the 60 and greater zone after a lengthy period below 60. If this occurs, and the stock does not have significant overhead resistance, then there is a good potential for a future uptrend. By limiting downside potential with a stop loss point just below a short term support price, investors can better manage risk while leaving the potential for price gains.
This strategy is good for identifying longer term trades that do not require constant monitoring. The criteria are relatively simple, and a regular check of positions for an exit signal may only take a few minutes. The scan can be run for free, but it may be a good idea to limit your search to one market at a time using the Exchange filter found on the Market Scan.
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1. T.GBU
T.GBU recently broke its down trend and is now forming a rising bottom formation, indicating investors are starting to get optimistic about the company again. The stock has resistance at $2, but it looks like it can break out any day now. Support is down around $1.55 but the next level of resistance is about $3.5, providing a good risk reward trade off.
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2. SCON
The Sentiment Stockscore for SCON has been below 60 for some time, but broke above Friday because the stock is beginning to change momentum. Volume is beginning to increase as the stock moves through some short term resistance, and forms rising bottoms on the price chart.
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3. DCTH
DCTH broke its downward trend line in August, and is now starting to move higher with rising bottoms after months of pessimistic falling tops. It looks to me like the sellers are gettting tired on this stock, and the buyers are starting to take back control. If support at $1.75 is violated, I would be worried, but so long as that floor can hold up, I think this stock has good potential.
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References
Get the Stockscore on any of over 20,000 North American stocks.
Background on the theories used by Stockscores.
Strategies that can help you find new opportunities.
Scan the market using extensive filter criteria.
Build a portfolio of stocks and view a slide show of their charts.
See which sectors are leading the market, and their components.
Disclaimer
This is not an investment advisory, and should not be used to make
investment decisions. Information in Stockscores Perspectives is often
opinionated and should be considered for information purposes only. No
stock exchange anywhere has approved or disapproved of the information
contained herein. There is no express or implied solicitation to buy or
sell securities. The writers and editors of Perspectives may have positions
in the stocks discussed above and may trade in the stocks mentioned. Don't
consider buying or selling any stock without conducting your own due diligence.
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