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Hi again Steven,
I've got IRL, and I've been playing with it for a couple of months now...
The thing I like about it, is the ability to screen stock groups (using the
index blue outline indicator that comes as a canned indicator) quickly.
IRL will allow me to view stocks as quickly as I can press the down-arrow
button, and that's from MS 6.5 files !
Let me ask a question: I've been trying various ways of automatically
screening the daily IRL index-built, using the metastock explorer. I've been
using the ROC and new high explorations.
Also I've been experimenting with the Technifilter 8 point and figure "new
x" and roc/momentum filtering, and getting pretty good results (although I'm
not satisfied with my ability to interpret the results yet)
Has anyone else found a superior way to screen the industry group indexes
daily, built from the IRL ?
This is a great time to be learning about it, because as you know, the IBD
industry groups tend to lag the actual market by a couple of months, and
aren't really useful for finding new/emerging market leaders out of a
correction.
And I think we can call this a "correction" now, can't we ? <g>
Dick
-----Original Message-----
From: Steven Buss <sbuss@xxxxxxxxxxx>
To: Metastock-list <metastock-list@xxxxxxxxxxxxx>
Date: Wednesday, November 19, 1997 4:04 AM
Subject: Metastock Industry Group Data Management
>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
>
>
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