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Hi Dick,
Good thoughts. OK. So what are the indicators and values we would want to
look for in "early group movement?" Seems to me that they might be the same
indicators used to discern early movement in a single issue. Am I mistaken?
I like this thread because it relates to a component of the overall strategy
I want to develop. Let's figure this out. I have some thoughts once we get
clarity about the question in paragraph one.
Steven Buss
Walnut Creek, CA
sbuss@xxxxxxxxxxx
-----Original Message-----
From: DickJ <dickj@xxxxxxxx>
To: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
Date: Thursday, November 20, 1997 9:32 PM
Subject: Re: Metastock Industry Group Data Management
>
>Hi John,
>
>Good comments on irl usage.....It's a lot of work, but I feel it's
necessary
>to go through each of the groups and delete the "broken" stocks and
outdated
>symbols.
>
>In fact, groups like computer-local networks only have 1 positive-bound
>stock (Cisco) so the surrogate isn't going to really reflect group action.
>
>I've also constructed other groups (like the Y2k stocks and disk drive
>makers) that haven't really been segragated entirely.
>
>It's a lot of work at first, but is far superior to reading the
>interpretation that IBD gives or even Telescan's version, because you can
>"see" inside the group with just a couple of clicks.
>
>But I'm still looking for the best Metastock exploration for discovering
>early group movement.
>
>Dick
>
>
>-----Original Message-----
>From: John Sellers <ay286@xxxxxxxx>
>To: 'Steven Buss' <sbuss@xxxxxxxxxxx>
>Cc: 'Cyberspace User Group' <metastock-list@xxxxxxxxxxxxx>
>Date: Wednesday, November 19, 1997 8:29 PM
>Subject: RE: Metastock Industry Group Data Management
>
>
>I use IRL program too. I run my own DJ-30 index because it comes out with
>volume which I think is necessary to confirm on-going bullish moves. Also
>look in the help and you will see a group of surrogate stocks to produce
the
>OEX and another group for the Nasdaq index. They may be interesting to you.
>
>May I suggest that the stocks in a group that you feel strongly that are
not
>going to be on your buying list consider deleting them from the index when
>you make that index. My understanding is a group that is performing well
has
>a higher probability is where you may choose a stock that will increase
>your probability of success.
>
>Of course this holds true for stock selection from a group within many for
>further improvement.
>
>One may technical or fundamental criteria to select stocks for these
indices
>prior to applying Metastock analysis. I have been using earnings, volume,
>and some other items such as percent of insiders that are holding the
stock,
>future earnings which Zack's on the Internet supply. A program that I use
is
>American Association of Individual Investors Stock Data base which can
>filter from about 8000 stocks with about 140 different types of information
>on these stocks.
>
>Good luck!
>
>John Sellers
>Torrance CA
>United States of America
>
>-----Original Message-----
>From: Steven Buss [SMTP:sbuss@xxxxxxxxxxx]
>Sent: Tuesday, November 18, 1997 10:03 PM
>To: Metastock-list
>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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