This article continues where How I Use StockCharts.com Home Page Part 1 left off. You can access that article here.
Lets go back to the Golden Line. I want to dig into the SCTR rankings. To me, this is the single most useful method for identifying strong stocks. I find it stronger than many of the other systems. It does not reflect any fundamental valuation metric. It simply measures price movement in the stock. All of my poorest trades result in using any fundamental analysis. As soon as I get involved fundamentally in a stock, I let pullbacks become problems. I find SCTR to be way more powerful for finding the best.
So lets dig in to the SCTR Reports. For Canadian investors, this is one of the best tools to rank Canadian stocks. When you start the reports, it is important to notice the drop down box at the top to select your favourite tool. If you are not sure of what is really strong at any time, find the stocks behaving the best by ranking them in SCTR rank regardless of industry or sector. Again, the SCTR does not change based on intraday, daily, weekly or monthly, so the second drop down box is not as valuable on this page for the static value. However, you may want to find the fastest moving SCTR's intraday or end of day depending on your timeframe. I left it on intraday in the current example and I have sorted by volume to demonstrate that all the columns are active. Canadian investors can select the Toronto stocks for the Canadian rankings.