Hi Pete here again, for those of you who don’t know me, I’m an amateur investor attempting to develop my techno-fundamentalist skills. This is really just my investment diary, and is not intended as investment advice. I hold a long position in many of the shares discussed. Already have an account?
The CAN-SLIM-esque Screen Review
5 drop outs this week. They are:-
Plus500 (LON:PLUS) - out of price drop - below 50 day MA and more than 15% below 52 week high
Gamma Communications (LON:GAMA) - Out of Q on Q EPS growth
Morgan Sindall (LON:MGNS) - Like Plus 500 - 50 DAY MA and 52 week high\
ASOS (LON:ASC) - RS 1 year < 75% and price fell below 50 day MA
Spirax-Sarco Engineering (LON:SPX) - Poor old Spirax - only in for a week then out again on RS 1 year.
What is in:
TCS Holding (LON:TCS)
The Russian finance company - it has had 6 days in the red last week, Friday had huge volatility, briefly dipping below the 50 day MA but bounced back.
Globaltrans Investment (LON:GLTR)
This is following the rest of the market this week - stalled.
Fevertree Drinks (LON:FEVR)
Quite positive how little interest there has been in selling Fevertree this today. Very low volume, tight range. One too look out for when conditions improve?
Kaz Minerals (LON:KAZ)
See comments for Fevertree - almost same pattern
Tatneft' PAO (LON:ATAD)
I don’t cover this. Why do I bother writing this each week? I may as well write something! Ok here goes. Volume is reasonably high at the moment, but no real price movement.
IG Group (LON:IGG)
Latest addition to the portfolio - lost 2.5% today but pleased to see volume is lowest recently.
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I'm not a Minervini expert but maybe he has changed his strategy since that book was written which was about 4-5 years ago? Did he not say making lots of 10% gains is better than holding shares for a long time? Certainly recently he seems to be looking for short term gains. As I said US small cap is probably a UK mid cap, anyway seen few shares below $1bn. Yes you could have bought Amazon, Apple et al, when they were a small loss making companies.
My point about EPS was growth, he's looking companies that are growing, so a positive EPS upgrade is something to look out for.