| stock screeners and parameters |
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Jinkinz
New Member
Cash: $ 0.90
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Joined: 09 Sep 2005
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| stock screeners and parameters |
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Hi, I have a question for those that are familiar to stock screeners. Lets say I want to find a company that is on the brink of bankruptcy...what parameters would i put in my stock screener?
The reason I ask is that lately I have been interested in shorting stocks that are soon to file chapter 11...I made some money from NWAC (could have potentially made A LOT) and I have been watching Delphi, DPH, recently. Although, it was quite obvious that Northwest Airlines was going to file, I think that if you keep an eye out throughout the year, the right situations will present themselves and you have an opportunity to make 50, 60, even 70% return without the normal risk associate with doing so. Does this seem like a legitimate proposal? Or am I missing something. Perhaps the new Bankruptcy laws have something to do with it too.
Thanks,
Kelly
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Wed Sep 28, 2005 4:20 am |
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Rolo
Yo' Daddy
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Location: Colorado/Florida
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Oh yeah! I forgot about that...did you ever find a definite answer to that?
To try to answer your question, search ticker news for 'bankruptcy'.
"Expect me when you see me."
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Thu Sep 29, 2005 12:22 am |
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correltrade
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Location: Pennsylvania
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Hi Kelly,
That's an interesting question.
I have no definite answer, but I imagine that owners and institutionals would be the first to sell.
So by scanning regulary the fallings (for instance here http://finance.yahoo.com/unusualvolume/falling), you "might" be able to detect the bankruptcy before it happens since large sells implies that the price falls.
Bests,
Maxim
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Thu Sep 29, 2005 2:13 am |
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Jinkinz
New Member
Cash: $ 0.90
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Joined: 09 Sep 2005
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Well, at Etrade, you can short sell if the stock is above 3 dollars and the firm owns it (of course), which from what i can gather, is actually quite generous. I know a lot of brokerage firms, if they still own the stock at all, have a 5 dollar min.
At etrade, I was able to made some money from the fall of Northwest Airlines, and I am in Delphi right now. But I am still uncertain as to what happens when, for example, NWAC becomes NWACQ, as I did not hold on to the stock long enough to have to deal with that. Also, etrade has the right cover my position at any time, but I guess they didn't excercise it this time.
Anyway, it would be great if this situation came around a couple of times a year as so far, it seems like easy money. Who knows, is a GM bankruptcy down the road?
I will continue to pursue information on this and let you know what I find. If you come across anything, please post 
Kelly
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Thu Sep 29, 2005 3:43 am |
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