Ranking Two-Day High Stocks by Popularity and Daily Range
Summary
This stock-selection idea first filters for a daily percentage range above 1 and a current high that is the highest over two days, then ranks qualifying stocks by individual-stock popularity. The document presents the ranking as a short-term way to focus on market attention alongside a price breakout-like condition. It provides sample indicator logic and code-like examples, but the examples are inconsistent: the stated ranking criterion is popularity, while the formula and sample sorting refer to market value. No backtest or performance evidence is supplied.
The author notes that popularity rankings may concentrate the selection in similar, crowded names and that the screen omits fundamentals. Suggested additions include valuation and profitability measures, trading volume relative to normal, turnover, and other technical indicators; ranking choices and weights may also be adjusted for market conditions and holding period. These are proposed refinements rather than tested improvements, so the screen should be understood as a selection recipe without demonstrated returns or a complete risk-management method.
Key ideas
- The screen filters for a daily range above 1 and a high equal to the two-day maximum.
- Qualifying stocks are intended to be ranked by popularity for short-term selection.
- The sample implementation instead uses market value, creating ambiguity about the actual ranking variable.
- Popularity can produce concentrated or similar holdings, and the screen omits fundamental analysis.
- The suggested additions are untested and the document gives no performance results.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.