@analyst99 some very good comments and agree with you, dcf is...

@analyst99 some very good comments and agree with you, dcf is just another tool in the evaluation toolkit. Shares do tend to trade wildly around valuations as you rightly point out. I actually quite like charts as well but don't think I'm particularly good at it... Re CLH I think there is the potential for a bit more downside than you but we're probably splitting hairs at that point. I think they've done enough to support where the share price is currently, but not enough to see a significant rerating yet and for myself not a clear entry point. If you already hold then that's a different matter.

As a general rule I am happy to admit I am probably a touch cautious on balance (if you hadn't guessed ) and miss the boat on entry more than I like due to it, but it does have the advantage of giving me conviction when I do decide to put money on the table and gives me a clear set of parameters that get me out if the goods don't show up...I also tend not to get in if I don't like the chart, but as noted an area I have a lot to learn in.

To your other question I like PNC and hold, my entry price was a fair bit lower than the current price though and will continue to hold that now to receive dividends and like the dividend reinvestment plan on that one. At the current price some of the value I saw has now been priced in, but think it will be a steady earner. Plan is to let it accumulate. Harder to do a dcf in full on that stock (same sector as CLH) as less history but have done some work that I feel comfortable with and supported my entry point with a reasonable margin for safety. The clear unknowns for PNC are how the various strategic plays into new areas will pan out. I still think the stock has around $0.20-0.30 value left in it based on what I see now but I think the psychological level of $2 may prove a challenge in the short term.

I also hold ANZ which I bought when everyone seemed to be screaming that the world was coming to an end in the banking sector. They definitely have headwinds but they seemed like value to me when their price dropped down below the $25 mark towards $22/23. Again the div yield is pretty good. I actually thought it was going to range trade more than it has and it broke out on the upside recently so I will sit, wait and see a bit longer.

Overall I have been a long way from fully invested for quite some time and have powder dry for good opportunities, I actually need to sit down and run some filters and get to work on doing some deeper analysis on a shortlist of opportunities. As a starting point I tend to run a lot of the higher value metrics such that keygeo has pointed out. I find those tools very useful for filtering. This then gives me a shortlist of investment candidates which then I go to work on looking deeper and if they are the sort of stock that warrants a dcf I will start with a high level one and go from there. I actually got into looking at CLH because of my investment in PNC and wanted to look deeper at competitors (have looked to some extent at CCP as well) to understand the industry more and those that had a longer history to inform my views. I didn't really mean to build a dcf it just sort of happened because I built up a spreadsheet with so much data in it when trying to work out how it all worked....

Perhaps off topic of the thread but I would be interested to hear in yours and others views on stocks people see value in, including reasons as to why, and how others go about screening for their opportunities.