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Reviewers note: this review contains trader jargon that non-traders may not understand. This is a serious application that requires close scrutiny, as it is offering a number of patterns that could lead to risk reward in the market. If youre looking for a stock screener or a how-to-invest guide, this isnt it. It is built for the technical analysis trader.

I have been trading currencies on both technical and fundamental analysis for well over a year, which is in part why I chose to review Daily Stocks. I believe that I am qualified to look at Daily Stocks from a rational, traders perspective rather than that of simply an iPad user who had this application in their review queue. The hype around Daily Stocks was strong and the price tag was significant, so my expectations were duly high.

Upon opening Daily Stocks, you are presented with three simplistic screens. The first, entitled JC (Japanese Candlesticks) offers a number of bullish and bearish signals that the market experiences. Ten bullish signals are provided, most of which are established, but there are a few less popular signals that are a welcome addition. Equally, ten bearish signals are presented to the user, and three indecision signals make up the final part of this section. All signals offer three notes the prior trend that the stock should have experienced, the reliability and the number of candlesticks in question. For example, the standard Three White Soldiers trend is an entry sign if there has been a bearish trend. It being a popular signal, its reliability is marked as high. Finally, as the name suggests, there are three candlesticks to the signal. I must question exactly where the Reliability level is gauged from, because such methodologies are always subject to trend, market volatility and speculation. No two trading days are ever the same, and users could easily fall into the trap of buying into a stock simply because its reliability level is high. There is no visible warning about the risks of trading when held in portrait view, and in landscape a warning can only be found when tapping on the information section of the Market Summary dashboard.

Beside each signal also lies a number of stocks that fit its description. For example, the Morning Star methodology presently has two stocks following its order. A brief and relatively understandable definition is given of each signal when tapped on. Daily Stocks claim that all US stocks are checked, and in our searching we found various stocks from the NASDAQ, NYSE and AMEX. However, given the ever-changing nature of the content, it wont always be this way. The wide variety of stocks does mean that most signals will have at least one or two stocks that fit its description meaning theres always a potential opportunity somewhere.

The second screen highlights overextended (overbought and oversold) stocks, through various stages of SMA (single moving average) 9 day, 20, 50, 100, 150 and 200. It is surprising that EMA (exponential moving average, placing more weight to more recent patterns) cannot be selected here, only SMA. This is a surprising oversight given EMAs popularity over SMA for short term trading. No customization is possible: what you see is what you get. Only stocks from the S&P 500 are presented. We had everywhere from 1 to 10 depending on which methodology we chose. However, the fact that this section exists is a major step forward for quick stock searching, as it massively reduces the amount of time searching if you trade within the parameters of Daily Stocks offering.

The third screen is entitled Stock Scans, and is by far the most impressive section of the application. It uses a number of technical analysis combinations to emphasize certain stocks. It is split into six main sections:

• Performance eight options, such as closed down at least 4% and going up fast up at least 15% in 10 [days] or 10% in the last 5 days and closed positive today. This is a very useful section of the application, as it allows you to see quickly the biggest winners and losers in the recent market.
• Overextended Stocks eight options, such as oversold RSI (14)