Tom Aspray’s Four Favorite Research Sites
Ageat article that I keep returning to is My Four Favorite Research Sites by MoneyShow.com Senior Editor, Tom Aspray.
In it, he talks about the four websites he likes to use to find likely stocks to purchase:
Tom says he looks at the Homepage intraday charts of the Dow Industrials, Nasdaq Composite, and S&P 50 to get a quick view of the day’s market action.
He also looks at the combined advance/decline data from the NYSE, AMEX, and Nasdaq, as well as the combined new high and new low data showing below the intraday charts.
The number of stocks above their 50-day MAs is another way he measures the market’s health.
And the Finviz Homepage also lists groups of stocks that are Top Gainers, those that have New Highs, and those that are Overbought etc. Tome typically starts with the list of filtered stocks with Unusual Volume – then sorting those stocks in descending ordering by Average Volume (3 months) with the aim of finding stocks that trade at least 300K shares per day.
On the resulting page, you will also see, on the the right side, a three column list of fundamental data that provides information such as capitalization, dividend, insider ownership, the average volume and the 52-Week range.
Finvis also has a menu item called Groups, which looks at the performance of sectors, and industry groups over different periods of time. You can select a market sector, click on the chart, and get a list of all the stocks in the group. Tom uses these to look for stocks that are basing, or experiencing normal corrections.
Tom uses Stockcharts to approximate relative performance analysis and one of the main ones he uses is the CandleGlance: S&P Sector ETFs page. He says it helps him quickly understand how the sectors are performing.
Another Stockcharts feature that Tom uses is the advance/decline charts on the Market Breadth page.
Tom suggests using the Gallery View when creating a stock chart (selected from the top centre drop-down list that includes Sharpchart, Candleglance, etc.). This view displays a daily chart with a Percentage Price Oscillator (PPO) (similar to the MACD) on top, and the CMF (Chaikin Money Flow) below the candlestick chart.
Another great feature of these daily charts is they label each swing high and low on the chart.
Below the daily chart on the Gallery View is a weekly chart that includes volume, the ratio of the stock compared to the SPX (and its 20-week EMA) below the chart to show whether it’s leading or lagging the index.
Freestockcharts provides charts from one-minute or a yearly on a delayed basis and it allows you to annotate the charts with trend lines, moving averages, various indicators, Fibonacci, and pivot point analysis.
Tom says he uses Freestockcharts relative strength indicator, which he says is close to the Relative Performance indicator he uses in his analysis.
For fundamental data and performance information, Tom suggests Morningstar. Along with the current quote, the change, and the opening price, it also shows gives the day, month, and year’s range, and how much it is is below its 52-week and five-year high.
Another interesting tool Morningstar has is the Performance tab, which has a chart showing what would have happened to a $10,000 investment over time, compared to both its industry group and the S&P 500.