Since January I've run the same scan 5 days a week to generate a watch list to peruse before each trading session. From this list I use a few filters to whittle down to a manageable number to focus the most attention to after the opening bell -usually 6. I've found selecting my stocks in this manner to be beneficial because my scans are based upon known anomalies in market structure which allows me to quickly move through my universe and select stocks based upon probability stacking; additionally it helps keep my subjectivity down to a minimum.
Over this period I've also noted another benefit that was not obvious to me at the time -increased market awareness. In repeating the same scan consistently I've noted the differences when my list is robust with a plethora of opportunities and when my list begins to dry up like a lake bed. Currently my list is looking like it suffers vitamin deficiencies.
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| 24 |
What I have to start this week off is a list of 24 and even that is misleading as some of these are buyouts. Given that I generate this in a quantitative fashion, other than the criteria of the scan there is no interference on my part in the generation of this list. What this in turn allows me to do is have a stop gap to my general market bias so when my mood becomes too bullish or bearish I can use this process as a filter. Coming into this week my general bias is neutral learning towards negative and currently my watch list isn't disagreeing with this sentiment.
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