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Scanning steps in MarketSurge

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Anilesh Lakhtakia asked 1 month ago
Hi Pat  I know you sort the stocks by Industry group rank first. Lock that sort and then do a second sort by percent of a high second. Here are my two questions. 
  1. When do you do in MarketSurge to start this sort of thing? Do you pick Growth 250 stocks where it shows 300 top stocks? if you have a video to show how your scanner in Market Surge looks?
  2. What is the benefit of the percentage of a high? Why not industry group and then RS 
Thanks in advance. 
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Avatar photoOwen Staff answered 1 month ago

Hi Anilesh, Pat made this video for you:
https://youtu.be/N9RDYtUT0pQ

Lesson Summary for Anilesh's Question on Stock Sorting in MarketSurge

Question: Anilesh asked about the specifics of sorting stocks in MarketSurge, focusing on whether I use the Growth 250 list and what benefits are derived from sorting stocks by the percentage off highs.

Response: I detailed my process for sorting stocks in MarketSurge, emphasizing that I do not use the Growth 250 but rely on my own custom screens, which I refer to as having decades of work behind them. I explained the dual sorting method I employ:

Industry Group Rank: I initially sort stocks by their industry group rank. This prioritizes stocks in leading industry groups, as stocks in strong sectors often perform better.

Percentage Off Highs: After locking the industry group sort, I then sort stocks by how far they are from their 52-week highs. This metric helps identify stocks that are potentially poised for a rebound or are showing strength relative to their recent price history.

Benefits of Percentage Off Highs Sorting:
Sorting by the percentage off highs allows for identifying stocks that might be at a turning point or those maintaining strength. It helps in pinpointing stocks that are not just in strong groups but are also performing well or showing resilience.

Key Takeaway: I prefer my custom screens over the Growth 250 due to the personalized criteria that have been refined over years. This method focuses on leading groups and stocks that exhibit both fundamental strength and promising technical setups, aligning with my strategy of capturing momentum and strength in the market.