One of my favorite scans to run in The PPT is daily hybrid movers with an accompanying higher than average volume score. @RaginCajun does a fine job throughout the day charting hybrid movers and linking them to FinViz. I like to look at hybrid movers and also add the volume element. With this screen my goal is to find some more of the under-followed names. With this I believe they may be starting to get accumulated by funds and being relatively unknown, aren’t far in the move that they may take. That is my opinion anyway and this doesn’t always mean they they will have they will have that upside move I am looking for. But, it should be noted that they were a top hybrid mover with volume. I then like to look at the technicals to see how the chart structure looks and filter the best candidates for an upside move.
Below are some of the highlighted stocks on Friday that I posted to Twitter and with notes and FinViz link in company name:
1) WX (WuXi PharmaTech (Cayman) Inc.) - volume supported the b/o above 15, like the pullback to the 50sma
2) LFL (LAN Airlines S.A.) - regional airline w/volume coming in and 12+ days to cover, RS avg starting to trend up
3) GLF – (Gulfmark Offshore, Inc) - basing just below 200sma, like the pattern & volume off support, note the RS avg slope
4) GGC (Georgia Gulf Corp.) - seeing accumulation in Feb 50 calls, may be hedging short w/22.5% short float w/8.85 days to cover