I've accumulated Rav's 52 Week Highs again. Thanks to his great scan work. Newbies may find some help with them.
I came across a youtube video of a young successful trader who swore for beginners not to go near spec stocks. This reminded me of the more famous successful trader, Mervini, who only lost for his first six years until he learnt the art of stock selection. They were also mostly not speculative stocks.
But of course, most of us will ignore this advice and continue on our wealth destructive way.
Rav's 52 week high scans show stocks across the entire ASX, but many of them are still at the spec end, especially those coloured yellow, brown, and possibly green. But these colours are only to highlight share price, and not their status in the market.
Although Market Cap is more significant in determining a company's worth, there exists a correlation to share price also.
A 52 week high may result in a turn-around story of a stock that has been dwindling lower for 12 months or more, eg MTC (arguably), or stocks that have been achieving great results more often. As Cabbie mentioned, notice how many of the stocks listed are repeated: eg CSL.
Many of the higher priced stocks won't interest us because they are not 'tradeable,' but rather long term investment stocks. Your super is hopefully in some of them.
I highly recommend that newbies and others who are not winning, to look through the stocks that are beginning to make a track record. This doesn't mean that it has to be making a new 52 week high every other day, but it will be here on the board, and probably will be again before long.
