StockScreen123
Free Stock Screener

The beta testing of StockScreen123 stock screener is complete. Although the full featured version now requires a modest monthly fee, a robust free version is still available.

I was concerned that the free version would be too watered down. Wrong. If you prefer free, this will probably make you forget about the other free screeners. After taking a test drive of the free version, I am still impressed.

Register to get started. Registration gets you the free stock screener, access to dozens of community screens, and, incredible as it may seem, some back-testing.

With the demise of the MSN Deluxe screener, this seems to be the best free alternative IF you are willing to take the time to learn their system.

“Must Have” features

As always, the data requirements of your investing strategies are the primary consideration. Like the Portfolio123 screener, both the free and the fee-based versions of StockScreen123 have over 500 fundamental, technical, and industry parameters available. It is hard to imagine not finding what you need. In addition, the majority of the data is not focused in any one area but spread across many categories.

A free form criteria editor is available to set up screen criteria. A point and click wizard is also available for some fields.

If you use more than simple data points, you will be pleased with the free form editor. You can enter a complex formula using company data, industry data, and the rich set of operators offered. In many ways, it is much like entering a formula or using a function in MS Excel.

Saving and running a screen

One of the limitations of free is the ability to save only one custom screen. However, while you are learning the system this is not much of a handicap. After entering a screen, save the screen by name and add some text describing the rationale of your screen. If you do not want to create a custom screen, StockScreen123 offers dozens of screens developed by their user community.

The free version does not give you access to their proprietary screens or proprietary ranking systems. Community screens seem to offer a quick ranking system you can use.

To run any screen - custom or community – you first select the screen and then choose the run tab. At this point, you notice additional features that differentiate this stock screener from the competition. You can run the screen against a variety of stock universes such as the S&P 500 or the Russell 2000 if you are not interested in the entire database.

Stock screener “Nice to Have” features

Many of the nice-to-have features are available. Both industry relative and historical data points can be included in the logic. If an investing strategy calls for an industry relative comparison rather than an absolute value, the screener can handle it.

Like most screeners, the results of the screen are provided as a list where each row represents a company that passed the screen. Not only can you look at all the data points independently of the screening criteria, you can sort the results by any viewable field.

Visualization of the results is exceptional. For example, an icon that displays a Yahoo Finance price/volume chart (5 day or 1 year) of the equity.

You can limit the results to a specified number. Saving the results to a portfolio is not included.

StockScreen123 screener “Advanced” features

Custom formulas and advanced logic are included in the free stock screener.

The Backtest tab

The features described are sufficient to make StockScreen123 the premier free stock screener available. But there is more. Back-testing against the most recent year of historical data is included.

You can back-test with a click of the mouse and choose a holding period as short as a week and as long as a year.

Implementing investing strategies

Your personal investing strategies identify the data and logic needs of the best stock screener for you.

The Tiny Titans strategy described elsewhere on this site is available as a community screen on StockScreen123. Once you register, log in and go to the Community Screens area. Search for the Tiny Titans screen by name.

Although some of the features amd techniques described will only apply to the fee-based version, you may find it interesting to examine the Dogs of the Dow investment strategy implemented on the fee-based version of StockScreen123.

Conclusions

If you intend to use a free stock screener this is the standard against which others will be measured. Take a test drive – it is free.

The extensive capabilities suggest a longer learning curve, but the functionality suggests time well spent.

To examine the screener in more detail, you can register for the free screener. To register you must identify the referrer - please select StockScreening101 from the drop down list. Notice that registration also gives you access to their forums.

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