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Best way to find stocks at half their 52 week highs?

post #1 of 5
Thread Starter 

I read this contrarian book the other day, and they suggest looking for stocks at half their 52 week highs.. certainly I can find the highs and the lows. But not the middles. I suppose I could do my own SQL statement if I could get the data somehow.

post #2 of 5

Lol, what book was that? and why did they say look for stocks in the middle?

post #3 of 5

A strange tactic, I would think that if the strategy was to find a stock that pulled back 50% off the highs and was reboudning (coming off the 50% fib retracement), thats possibly what they were going after.

 

You might need to check out a site like stockfetcher.com that allows you to write your own customized scan criteria.

 

post #4 of 5

You can use Finviz.com, go to screener, then click on the "technical" tab and you can search for stocks based on their relation to highs and lows. 

post #5 of 5
Thread Starter 

Hi this is the book, I didn't buy it though I found it on a relatives book case while looking for something to read on a hot summer day.

 

 

 

The book is called...

Contrarian Investing: Buy and Sell When Others Won't and Make Money Doing It

 

I believe the theory is you want "Turn around" stories. You want businesses that the average investor has lost faith in, but has a good chance of coming back into the lime light again. It suggests most investors value the most recent news far to much and often over react, which can create some good buying chances. For instance RIM would fit the first criteria but didn't really fit any of the other ones.. There was no insider buying that I could see, or specific "one time" reasons for the low earnings. I.e. building a new plant or something. I feel like personally if my company I knew was worth $60 a share got cut to $28 a share I would be morgaging my house to buy stock in it.

 

Now UNIS/unilife who is a needle manufacturer fits the criteria more, The share price had been cut in half, the CEO bought half a million bucks worth shares or so, they look bad on paper because they stopping doing manufacturing work for others, which made it so they didnt make any money this quarter.. but they stopped to retool their assembly lines for themselves to make more money. Also they have the worldest largest vaccine manufacturer as a patron.. who will no doubt buy a lot of needles. And they are going to be offering a product healthcare workers i asked said would be very desirable.

 

Thanks I will check out that website.

 

 

 

 

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