A free CANSLIM adjustable screener?

[pirx]

Hi!

I´m wondering, if any of you know for a free stock screener, which can be adjusted to meet CANSLIM criteria?

The closest one I found is from MSN Money, very well described on this link.

I´m also considering to subscribe to Investors.com or AAII, but I´m not sure, which one would be more applicable.

Any suggestions are very appreciated.

 

[ajaskey]

Hi!

I´m wondering, if any of you know for a free stock screener, which can be adjusted to meet CANSLIM criteria?

The closest one I found is from MSN Money, very well described on this link.

I´m also considering to subscribe to Investors.com or AAII, but I´m not sure, which one would be more applicable.

Any suggestions are very appreciated.

For a free screener, you can use the MSN screener or Reuters screener (was MarketGuide a couple years ago). Reuters is adding fields to screen from and that may work better than the current version. I'm not sure when that will be available.

If you want much more data from the same source as the Reuters data, then try AAII Stock Investor Pro. That has all the data you will need and great screening capabilities. It cost about $250/yr and is worth every penny.

 

[pirx]

For a free screener, you can use the MSN screener or Reuters screener (was MarketGuide a couple years ago). Reuters is adding fields to screen from and that may work better than the current version. I'm not sure when that will be available.

If you want much more data from the same source as the Reuters data, then try . That has all the data you will need and great screening capabilities. It cost about $250/yr and is worth every penny.

Hello ajaskey! Thanks for the reply!

I never knew that Reuters has such a good screening tool.

Anyway, I think, I would have to go with the AAII Stock Investor Pro, based on what I have seen on the description pages. Thanks.

But if they ship a CD every month, then I´ll probably have to pay for the shipment every time... But it seems to be worth it.

I also very much like what the Investors.com offer, but I don´t think that they have a customisable screener.

A great concern is also that probably thousands of investors are watching and monitoring the same predefined stock lists on and this could be potential drawback, don´t you think?

By the way, if you don´t mind me asking this, did you ever use predefined screens or any advisory newsletters? I try to stay away from them, but sometimes a CANSLIM newsletter seems so tempting :cheesy:

 

[ajaskey]

Anyway, I think, I would have to go with the AAII Stock Investor Pro, based on what I have seen on the description pages. Thanks.

But if they ship a CD every month, then I´ll probably have to pay for the shipment every time... But it seems to be worth it.

I also very much like what the Investors.com offer, but I don´t think that they have a customisable screener.

A great concern is also that probably thousands of investors are watching and monitoring the same predefined stock lists on and this could be potential drawback, don´t you think?

By the way, if you don´t mind me asking this, did you ever use predefined screens or any advisory newsletters? I try to stay away from them, but sometimes a CANSLIM newsletter seems so tempting :cheesy:

AAII data can be downloaded weekly and I rarely use the CDs. The data is about 40MB and is available on Sundays and is available to anyone in the world with a fast internet connection. The CDs are good for upgrades by I can't remember when the last time they upgraded the program.

Investors.com sells a screener but AAII is better for much less, IMO.

Yes, everyone watches the same stocks which makes it more difficult than in the 80s-90s. But it still works fine - see my journal.

I have subscribed to a number of advisory newsletters for a month or two. Most are wasted money. Once you have AAII Stock Investor Pro you will find all the stocks they find plus better stocks than they put on their newsletter - maybe they hold out the best ones for themselves...

 

[pirx]

AAII data can be downloaded weekly and I rarely use the CDs. The data is about 40MB and is available on Sundays and is available to anyone in the world with a fast internet connection. The CDs are good for upgrades by I can't remember when the last time they upgraded the program.

Investors.com sells a screener but AAII is better for much less, IMO.

Yes, everyone watches the same stocks which makes it more difficult than in the 80s-90s. But it still works fine - see my journal.

I have subscribed to a number of advisory newsletters for a month or two. Most are wasted money. Once you have AAII Stock Investor Pro you will find all the stocks they find plus better stocks than they put on their newsletter - maybe they hold out the best ones for themselves...

Then the only thing to do is to order the IIAA CD I´ll finish the O´Neil´s book first and then order the CD. If they have any reference discounts (since you told me this), please let me know, so I´ll tell them how I found out about their software.

By that, that everyone is watching the same stocks, I have meant the IBD and Investor.com subscribers. If they are limited to predefined scans only, then they haven't much other choise, than to evaluate the first few best ranked stocks, I suppose.

I was also subscribed to a penny stock advisory letter but I got my lesson out of it They made some very fine picks, few of them went over 100%, but the others just didn't move anywhere or made a huge loss. I traded their picks on virtual portfolio and almost a year later, the portfolio is up only 9%. I had a bit of luck and a bit of knowledge so my personal portfolio, based on their picks, is up "only" 15%.

I´ll check your journal

 

[ajaskey]

By that, that everyone is watching the same stocks, I have meant the IBD and Investor.com subscribers. If they are limited to predefined scans only, then they haven't much other choise, than to evaluate the first few best ranked stocks, I suppose.

With automated fundie and TA tools available for next to nothing, there are no quality stocks that are undiscovered anymore. Bulletin board stocks are the place to find undiscovered value but only because there are not readily available databases of info on them. With CANSLIM, it pays to expect big shakeouts as the momentum traders get out - but then the trend resumes for stocks of companys really growing fast.

I'm doubt that there are any referral benefits from AAII. They appear to be a very low budget no frills operation that happens to already have a tool that works great. I don't think they even have regular programmers to update the program as they rarely add to it. AAII does not have undiscovered companys in their database, but they are undiscovered...

 

[pirx]

With automated fundie and TA tools available for next to nothing, there are no quality stocks that are undiscovered anymore. Bulletin board stocks are the place to find undiscovered value but only because there are not readily available databases of info on them. With CANSLIM, it pays to expect big shakeouts as the momentum traders get out - but then the trend resumes for stocks of companys really growing fast.

I'm doubt that there are any referral benefits from AAII. They appear to be a very low budget no frills operation that happens to already have a tool that works great. I don't think they even have regular programmers to update the program as they rarely add to it. AAII does not have undiscovered companys in their database, but they are undiscovered...

But it is interessting, that the original CANSLIM still works (even better than the updated version in 3rd edition) and it´s probably one of the best investing methods. (based on the AAII stock screen returns) I guess, it will never stop working, because it´s based on earnings and consequentaly on emotions The most difficult part is probably to sit tight even when there are big shakeouts or the ability to sell early enough.

I guess a bit of TA, based on Alexander Elder´s books, Trading for A Living and Come in to My Trading Room, also helps.

I´m going to start with about $5.000 and gradually add to the initial investment. This could be fun. Or not :cheesy:

 

[chewbaca]

Any body ever try Philsgang or his trading software?