Breakout Scan

[mooddude]

Hi All,
Has anyone found a potential "Breakout" chart pattern scanner?
Does it exist? I mean, if StockChat scan can pick out a Morning Star,
I am sure it will not be difficult to program picking up those which have consolidated for a while, ya..?

The Nebraskan

I have written code in mathlab which spots a cup-with-handle pattern. I have some ideas about pulling out data from the internet for specific companies on a daily basis to spot the pattern. However, the latter is not implemented yet. If anybody is interested in the idea (and, potentially, joining the project) let me know.

[New-born baby]

Why not here?

I have written code in mathlab which spots a cup-with-handle pattern. I have some ideas about pulling out data from the internet for specific companies on a daily basis to spot the pattern. However, the latter is not implemented yet. If anybody is interested in the idea (and, potentially, joining the project) let me know.

'Dude,

Why not here? It would be huge!

[IIC]

I have written code in mathlab which spots a cup-with-handle pattern. I have some ideas about pulling out data from the internet for specific companies on a daily basis to spot the pattern. However, the latter is not implemented yet. If anybody is interested in the idea (and, potentially, joining the project) let me know.

I would be interested..Doug(IIC)

[MickyMouse]

hey, whaddya know. right on schedule... GMSV has doubled today from 0.0001 to 0.0002, at least 4 times so far today. albeit on volumes of a nickel or penny, but really, who does that?! that wasn't you, right micky? I mean, if you doubled your penny, well, good for you.

I guess buying 1000 shares for a dime might make some sense if you shorted them for $200 a month ago...

Nope, that wasn't me. I save the penny for my son's piggy can.

Micky

[jiesen]

Nope, that wasn't me. I save the penny for my son's piggy can.

Micky

much wiser move, imo.

[mooddude]

New-born baby, IIC: I see you are interested. What skills can you contribute? There are endless possibilites of what can be done. For now, I am looking to do one "simple" thing. To automate tracking IBD100 (and the next 200, 300 in total) companies for the cup-with-handle followed by solid uptrend and, finally, 3-weeks-tight. The entry point would be in certain advance time before 3-weeks are formed and the exit the next day the stock jumps or until some 15% is made. See AAPL on 11/22/2004 and imagine me buying on 11/19/2004. 3-weeks-tight after a solid uptrend seems to be a quick money-making opportunity.

[billyjoe]

breakouts

I'm working on a new screen that I hope will show promising purchase points for highly rated stocks. It will be based on the following criteria:
1. Stocks with RS and EPS above 80
2. Recent quarter sales increase
3. Jumps at least 4% day of favorable earnings release
4. Initial price at least 10.00, but less than 50.00

After finding 100 stocks meeting these standards, graphs will be plotted to determine the optimum number of days for these stocks to reach highest price before next earnings report. This would be of value to those not wishing to hold through next earnings report. There may or may not be a pattern that is useful, but it's worth a try. Now how long will it take to find those 100 stocks? Results will take at least 3 months as I'm using current earnings for starters.
billyjoe

[New-born baby]

What do you want me to do?

New-born baby, IIC: I see you are interested. What skills can you contribute? There are endless possibilites of what can be done. For now, I am looking to do one "simple" thing. To automate tracking IBD100 (and the next 200, 300 in total) companies for the cup-with-handle followed by solid uptrend and, finally, 3-weeks-tight. The entry point would be in certain advance time before 3-weeks are formed and the exit the next day the stock jumps or until some 15% is made. See AAPL on 11/22/2004 and imagine me buying on 11/19/2004. 3-weeks-tight after a solid uptrend seems to be a quick money-making opportunity.

Moondude,

What would you want me to do? I can recognize a cup and handle chart, but my charting skills do not approach the skills of Spike. Right now, all my charts are free charts and inferior to those of Stockcharts.com. I need to subscribe. Tell me what you want me to do, and I'll see if I can do it.

I have a few goals for this forum (Hot Pick of the Day). I would like to be able to accomplish these goals, and you might be just the man.

1. I would like to have one to five solid picks per day to play for a daytrade, swing trade, or even a long. I would like to post the strategy with each stock.

2. I would like to see a new thread on technical analysis. What I mean by that is a chart school right here on MM. Spike does a great job reading and posting charts. What I am refering to is a thread that a neophite could start on page one and read to develop charting skills, discussions on the various indicators, etc.

3. And one day I would like to see a thread on developing options plays and skills.

Tall orders! And I can't do it right now, but I'd like to see it done right here on MM. Then I think MM might have the best investing forum on the WWW!

[IIC]

New-born baby, IIC: I see you are interested. What skills can you contribute? There are endless possibilites of what can be done. For now, I am looking to do one "simple" thing. To automate tracking IBD100 (and the next 200, 300 in total) companies for the cup-with-handle followed by solid uptrend and, finally, 3-weeks-tight. The entry point would be in certain advance time before 3-weeks are formed and the exit the next day the stock jumps or until some 15% is made. See AAPL on 11/22/2004 and imagine me buying on 11/19/2004. 3-weeks-tight after a solid uptrend seems to be a quick money-making opportunity.

I post Cup w/ Handle patterns every week...maybe 10-20 of them...at my site...takes me about 15 mins to find them. I present them as-is...up to the reader to do their own DD. I doubt that I am particularly interested in the exact criteria that you are. All I would like to do is share the finds on that particular chart pattern...maybe we start a thread on it???

But I am very interested in finding a chart pattern recognition program....much like the one that IBD has. The sites I've seen that charge for these lists of CwH's are pretty darn weak IMO.

Take Cupwatch.com...It takes a pretty vivid imagination to recognize the majority of those that they present for 300 bux a yr. Or GreatStockPicks.com...give me a microscope...'cause I can't see most of the one's they tout.

I'm not going to submit a resume...please just tell me what you want...I don't mind sharing...my email addy is public...Best, Doug(IIC)

[Runner]

I’d be interested and what I’ve been doing is creating a database with top sectors and stocks. I do not have a real clear understanding of earnings. I ran one tonight with over 300 stocks in it. The problem is I don’t know what fields I should set up anyway I’ve got the data now I must learn how to maximize it!! My trading perspective is about 40% longer hold 80% swing and DT.

Not sure how much I can contribute, but I’d be willing to help the best I can

[ParkTwain]

You could run a scan for Current Price >= 97% of 52 Week High Price and Bollinger Band Width of less than 1.0. The 97% part of the scan would show you lots of stocks with C&H patterns but many others in ongoing wave and "scalloping" uptrend patterns as well.

You can get some of this at the MSN Money and the Yahoo stock screeners (Java-based). You can get the Bollinger Band Width indicator via StockCharts.com. I'm currently digging into the Yahoo screener. It helped me find ANSS's breakout of 2/7/05.

[ParkTwain]

I should have posted that the Yahoo screener helped me find the SETUP over this weekend for ANSS's breakout on 2/7/05.

[ParkTwain]

Here are stocks that were on my "imminent breakout" watch list going into this week (2/7/05):

ACF, ANSS, ARS
BCII, BYD
CBI, CHK, CKR, CNL, CNX, CSG
DD
EDO
EK
FINL, FL, FOX
HC, HPC, HRL
IDC, ISRG, ITG
JCOM
LACO, LH, LI, LII
MCD
NICE
OCAS, OIS
PFG, PLMD, POG, PPDI, PQE, PTEN, PXR
RBK, RJF, RSTI
SHW, SO, SONC, SVC, SYNA
WSO
XTO

I restrict myself to watch stocks with 97% of their 52-wk. high price, with avg. daily vol. of >100K, price > $10/sh and with price and certain technical indicators pointing to an imminent breakout or at least a continued uptrend.

[ParkTwain]

ANSS and BYD popped on 2/07/05, and LACO popped on 2/08/05.

On Yahoo, look at the 5-day chart for ANSS and BYD to compare what can happen to a stock just after it breaks. Notice that BYD remains at or above the lower end of its post-breakout (gap-up) price range on the day after its break, while ANSS does not. Though at the end of the 2nd day, each of these two remains in the green versus closing price last Friday (2/04/05).

http://finance.yahoo.com/q/bc?s=ANSS+BYD&t=5d&l=on&z=m&q=l&c=

[ParkTwain]

Because my scan at end of week last Fri was 97% of 52-wk. high, I wasn't watching BMHC, which popped today BIG-TIME on its pre-open earnings announcements. It's close last Fri, was 93.4% of its 52-wk high. The lower you set that part of your screen, the more stocks will participate in your watch list. (How tall is your computer's screen? )