There is more than one way to setup a bullish screen. First, you have to decide what bullish means to you. Does it mean a fundamentally sound stock, or a stock in an industry/sector that is performing well, or a stock that is in a strong uptrend, or maybe a stock that bottomed and is now starting back up?
Our curriculum suggests that the best way to put the odds in our favor is to focus on the three major analyses of good fundamentals, good technicals, and good groups. Using all three will increase the likelihood of success.
A good free site that we use frequently is http://finviz.com/. This site has a nice screener tool where we can incorporate all three of the major analyses. The screener has many filters to choose from with the filters separated into three tabs at the top. One tab is for Fundamental filters that can be used, as well as a tab for Technical filters, and one tab for Descriptive filters which includes choice of Sector or Industry. In the upper right of the home page, you can register for an account (for free) to save any screens that you create as well as save portfolios that you create.
Even though, there are many criteria that can be specified in a screen, I always like to choose Optionable as a filter, along with Average Volume over 1 million. After that, I can choose from a specific Sector or an Industry if I want to narrow my group further. These filters are all located on the Descriptive tab. There are many filters we can choose from the Fundamental tab that relate to our guidelines of P/E, Forward P/E, Institutional Ownership, EPS growth and more. The Technical tab offers choices such as Performance over a day, week, month, quarter, half, year, or YTD. You can also specify the stock price in relation to a 20, 50, or 200 Day Simple Moving Average. A couple of Technical filters that are good for finding a strong trend are New High on the 52-Week High/Low filter and Channel Up (Strong) on the Pattern filter.
Once a screen is created that we like, save it by clicking on My Presets in the upper left. The results can be saved in a portfolio by clicking save as portfolio at the top center of the results that appear.
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