The Stocktwits team introduced the "Stocktwits 50" a few months ago which is a weekly list representing the stocks with the strongest fundamental and technical characteristics. While their methodology is proprietary, they focus on earnings growth, relative strength, and other technical ratings designed to filter the strongest stocks. Because the list is rebalanced weekly, they consistently have great trading ideas.
Although I am primarily a technical trader, I've been a long time believer in following stocks with strong fundamentals and relative strength. Investors Business Daily has a similar list named the IBD 100 and I have diligently followed this list as well. The way I have used this list is by importing it into Telechart 2000 and then watching the stocks daily for technical setups.
Below I will show how I import the Stocktwits 50 into Worden's Telechart 2000 in order to have them in a custom list that can be reviewed daily. This tutorial will show you how to end up with a text file of the Stocktwits 50 that can be imported into Telechart. However, users of other charting programs could also likely import the text file into their package in a similar way.
The first step is to browse to the Stocktwits 50 and copy the Stocks. Because it is in a table, you will have to drag over the table and select all the data down through the end of the list. From there, right click and select copy. This will copy the table into your clipboard.
The next step is to open your spreadsheet software and then paste the information. In Microsoft Excel, I right click in the first cell and select paste special. From there I select HTML and click OK.
This should paste the table into your spreadsheet. Don't worry if its not formatted too pretty as the purpose of this exercise is to simply end up with a list of the stocks in a text file. Highlight all the columns to the right of the tickers and then right click and select delete.
After this, repeat the process and remove the column to the left. I also ended up with a few blank rows, so I deleted those as well. The point is to end up with only the tickers and nothing else.
Now that the spreadsheet is clean, you should have a list of only the tickers. The next step is to remove the $, because your charting platform will not otherwise recognize the stocks. To do this, click Edit and then replace.
From there enter $ in the "Find What" field and leave the "Replace with" field blank. Then click Replace All. This will in effect remove the dollar signs.
Once this step is done, simply click File, Save as, and select Text (Tab Delimited) in the Save as type field.
Now that you have a text file with the tickers, you can import it into Telechart. If you use a different charting package, check to see if you can import from a text file.
In Worden, you would first create a New Watchlist. Click File, Create New Watchlist, and select Import from a file. Then browse to your Text file and import it.
Now you should have the 50 tickers on the right and can now start browsing the list with Telechart. Everyweek, you can simply remove the tickers from the list and import an updated text file.
Simply monitoring strong stocks can greatly improve the quality of your trade setups, and by monitoring the Stocktwits 50, traders have a free list of many of the strongest stocks in the market. This is simply one method of utilizing this group of stocks and traders should consider other ways to mine this data.
Good Trading,
Joey
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