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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to go through each of the groups and delete the "broken" stocks and outdated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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