For those familiar with Investor Business Daily and MarketSmith, below is a TC2000 scan designed to look for the characteristics of the CAN-SLIM system.
CAN SLIM TC2000 Scan
The first scan looks for stocks that exhibit the following criteria.
C – Current Earnings (Up)
A – Annual Earnings (Up)
N – New High Price
S – Supply/Demand
L – Leader or Laggard
I – Institutional Sponsorship
M – Market Direction
All of the above scan options are built into TC2000 with the exception of one. The New High is True needs to be added using New > Condition (PCF) Formula.
Name: New High
Just about every stock this scanner finds has good fundamentals in an up trend. Some of the companies are worth looking into for short and long terms holds. Great companies with innovative products can continue going higher.
This scan is great for finding stocks on the rise.
CAN SLIM TC2000 Relative Strength Scan
For those familiar with Market Smith’s RS rating, you know the higher the better. An RS Rating of 1 means the company is in trouble. Stocks with an RS Rating of 99 are good companies that exhibit strong characteristics.
Start by creating a New > Condition (PCF) Formula.
Name: RS Rating
((((C – C63) / C63) * .4) + (((C – C126) / C126) * .2) + (((C – C189) / C189) * .2) + (((C – C252) / C252) * .2)) * 100
Next you’ll need to create a New > Personal WatchList.
Name: Relative Strength
Add the newly created RS Rating Condition to your WatchList as shown below.
The final step is to add the RS Rating as a column to sort by.
Click on the Plus Sign to the right of the column header and search for the newly created RS Rating condition. Add it as a column. In the end your scanner should look something like this.
I just compared today’s results to Market Smith. Each of the stocks above scored an RS rating of 99. This scan is excellent for finding strong stocks that rank high according to the Investors Business Daily Market Smith website.