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One of the things I like to do when markets have gotten hit the way they have recently is to take a look at stocks from differing viewpoints and see if any potential bargain situations have been created. Although deeply wed to my deep value approach, I am well aware that it is not the only approach that works. Earlier this week, I took a look at some growth stocks to see if there were any that offered extraordinary long-term potential and were cheap enough to justify a long-term investment. I still usually hold to tangible book value as "the end all and be all" of investing, but looking at stocks from differing viewpoints can uncover ideas I overlooked. From there I build a wish list of stocks to buy in a deep market decline. Other investors, including my 23-year-old son, may be willing to buy different stocks that I do.

One of my favorite screens of all time is, in fact, not a strict value screen. The list of stocks priced below $10 and ranked No. 1 and No. 2 by the Value Line Research service ranking system often includes some gems. This screen looks for stocks that have both price and fundamental momentum as defined by the Value Line system and are low in price with no additional criteria. Often this screen helps spot small-company turnarounds before the rest of the market catches onto them. The price is still low but the ranking system is indicating that the fundamentals are improving quicker than the rest of the market....358 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.