The good news is even though I think overall the market is going down, if you live by Rule #1 strategy you also know that even when the market is going down there are always stocks that are going up.
I did a fresh screen with data (earnings, prices, volume, etc) current up to today and recompiled all of the aproximately 8,500 stocksin the database.
My ruleset is more lenient than Phil Town’s, but I also screen out thinly traded stocks and anything under $10. What I came up with is about 150 modified Rule 1 candidates.
What this means is that the overall shake up and uncertainty has driven a lot equities down, some likely deserving, some not. It is a lot easier when your list is only 5 long to begin with and you don’t have to evaluate the effect of the credit crisis against them, but it also gives you a lot of industries to choose from. Just about every sector and sub-sector has a stock or two to look into further.
Here are a few that look interesting to me at a quick glance:
HP
SKM
TTM (recent news about buying Jaguar and Land Rover today)
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