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finding top sector, industry and then stock

I like the idea of William O'Neil's overall stock picking strategy which is find the top stocks withing the top industry group. I don't want to subscribe to IBD to get their scans and am hoping to find a way through stockcharts to scan for the similar thing. Basically I want to scan each night for the top sector, then within that sector the top industry and then within that industry find the best performing stocks. I'm wondering if a scan like that already exists that someone could share.
thanks in advance for any help with this idea

Comments

  • markdmarkd mod
    edited January 24
    Well, you have to decide what "top" means. You want the best performers over what period of time, a month, a quarter, two quarters, a year?

    So, you can do this without scans.

    The easy way is to use the Sector Summary and the Industry Summary pages. These are in the "Member Tools" box to the left on the "Your Dashboard" page, under "Report and Analysis Tools".

    On the Sector Summary page, select a time period (say, 3 months) and sort by % change. Note the top sector and go to the Industry page. Sort by the same time period and find your sector.

    Click on the top industry and you will see it's constituent stocks in the same sort order.

    Unfortunately, it seems you cannot put them in a list. If you want to do that, you need a scan.

    [group is GroupName] // select the group from the sectors and industries drop down
    rank by PctChange(63, close) // convert the time frame you chose into a parameter - 21 days for each month

  • It will be a nifty improvement if they allowed a "Create List" Button on that area. It would also be nice if they included the Industry symbol in the list of securities that you get when you drill down into it. That way you can see how the names are doing compared to the industry.
  • markdmarkd mod
    edited January 25
    Agree on both counts. But for workarounds, for RS, you can include the Price-Performance indicator with $SYMBOL:$INDUSTRY in your chart style (which I think is essential anyway). Also, if you open a list in another window, you can import the industry symbols there (click "From Group", then "From Industry Groups".
  • Thank you for your quick response. I just walked thru the process to find the top performing stocks - while it isn't as simple as I hoped I think going thru the process will help me understand and notice if and when the same stocks appear.
    Now I will work on the scan part. Thanks again for your help - I'm so glad I found this resource.
    Jill
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