Best Stock Screeners

A number of investors use applications or subscription services available online that let them choose stocks according to a number of customizable conditions and variables. There are a number of screening services, all that offer a slightly different product. Wikipedia details them in its article on stock selection:

* "Detailed screening using multiple factors and predefined screens. The service rates over 5,000 publicly traded companies on a 10-point scale, using an advanced mathematical system to determine a stock's expected risk and return. It compares the fundamental and technical qualities of stocks to measures that have proven statistically predictive of stock performance in the past. It then assigns an expected six-month return to each stock based on this statistical profile and balances that return against expected volatility. The ratio of expected return (weighted-average most likely outcome) to expected volatility, or risk, yields the stock's final overall rating. Ratings are displayed on a bell curve, meaning there will be fewer 1-10 ratings and far more of 4-7 ratings

* "Screening using multiple factors and predefined screens. Utilizing nearly twenty predetermined screens covering an array of investment strategies, including strong forecasted growth, large-cap value, small-cap growth, and Dogs of the Dow. It also provides a large number of Stock Price Variables which are particularly suitable for day traders.

* "A screening service that covers a range of trading strategies and also includes a search based on Morningstar stock ratings. By searching stocks according to these ratings, investors are accessing analyst research on the company's quality. One variable is minimum capitalization: one of six different values is selected by the user as the smallest market cap desired in the search results."

"A stock screener's interface is usually made of 3 fields," says mechanical-investor.com:

* Field Name or Variable

* Operator or Condition

* Value

"In order to choose a stock screener, you should review its capabilities in each of these 3 fields," the site continues, but they also point out that "another major consideration in selecting a stock screener is your Investing Style."

Based on their own screening process, Mechanical Investor concludes that Microsoft offers the best stock screener.

"Overall, MSN Deluxe Stock Screener is by far the best Free Stock Screener with no competitor in sight," the site says. "Long term Growth Investors looking for companies with good track record should look into Morningstar Premium Stock Screener or Stock Prospector while Pitbull Investor StockTables is the cheapest solution for Momentum Investors screening with the EPS Rank and the Relative Strength."