|
PureBytes Links
Trading Reference Links
|
I went out and bought IRL. Nice little product. Saves some time...
Basic thoughts from a newbie (me):
Stocks within industries move in groups: semis, oil drillers, banks, etc.
I've noted before that different publishing organizations have different
industry category schemes and place the same stock in different industries.
I have no easy solution for this. I've noted Pitbull Investor as having the
best comparative matrix on this but it still leaves alot to be desired. But
this is a larger problem that I have no quick solution for. Anyone else?
IRL helps to solve my shorter term problem: I want a way to quickly browse
stocks within industries I'm interested in because the industry is moving.
But the Metastock data directories are organized alphabetically by stock
name. Getting at these alphabetically organized charts is cumbersome and
slow.
IRL provides a means of exporting symbols to industry organized Metastock
files. Moreover, it also does something else I want: I can export only
those stocks within specific industries that have tradeable options. So,
for example, with a few clicks of menu choices, I've created 200 some odd
Metastock industry organized data directories and symbol files for the
optionable stocks within those industry directories.
Cool...No muss, no fuss. Saves hours and hours. (I did have to spend 30
minutes playing with it and even (gasp) read the manual a bit to figure out
if it could be done. <G> ) But if you want to play industry angles, this
thing is well worth the $80 some odd bucks to buy it.
The only downside is that one takes IRL's predefined industry groupings as a
given unless one has the time and inclination to define and create one's own
industry groups. And I don't quite know yet how the IRL groups compare to
the S&P industry groups that come standard with the Metastock data cd. But
this is the larger problem I noted earlier. If I can use the newly
organized data structures to trade better then I'll worry about that larger
problem later....
Steven Buss
Walnut Creek, CA
sbuss@xxxxxxxxxxx
|