Summary
Highlights
David Blair introduces Finviz as a free and valuable website for traders. He highlights its ability to cut through market noise and provide essential information without unnecessary clutter or subscription fees. The video focuses on two main uses: narrowing down tradable stocks and tracking earnings dates effectively. In Crosshair Trading, they focus on 600-700 high-volume, optionable stocks over $10 a share, as these are considered leadership stocks that move with the market.
David demonstrates using the Finviz screener to filter stocks. He sets criteria such as average daily volume over 750,000 shares (reducing 6,587 stocks to 1,330), price over $10 per share (down to 1,074), optionable status (1,054 stocks), and focusing on US-based equities (913 stocks). He further refines the list by excluding ETFs, resulting in a list of 792 stocks. Beta can also be added as a technical parameter, such as over 0.5, to further reduce the list to 671 stocks.
The video explains how to use Finviz to track earnings dates, a crucial step for traders to avoid holding positions through earnings reports. Using the 'earnings date' filter in the screener, traders can identify stocks reporting earnings in the coming days, weeks, or month. David shows how to set this filter for 'next week,' which reduces the filtered stock list to 142. To view the specific earnings dates, users must go to the 'custom' tab and add an 'earnings date' column via the 'settings' menu. This allows sorting the list by earnings date, indicating 'A' for after market close and 'B' for before market open.
Finviz allows users to save their custom screener settings as a preset to avoid re-entering criteria each time. David demonstrates saving a 'basket of stocks' and shows how to load it for quick access. He also mentions the 'snapshot screen' feature, which provides individual stock details, including charts, news, and earnings dates, one by one. This comprehensive free data helps traders stay informed and manage their portfolios effectively.