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Very true, looks like a straight price of index/ sp500 line, one of the few
things I pay little attention to. I am far more concerned how a stock
compares to others than how an index compares to another index. All of my
comments were directed to the rankings not the market page. MetaStock does
better charts of indices.
An aside: William O'Neil IBD's CEO says he goes through paper in 20 minutes.
The areas he doesn't look at:
1.NASDAQ small caps
2.futures
3. options
4. Bonds
5. overseas markets
6. t-bills
Richard Estes
-----Original Message-----
From: Dick <dick@xxxxxxxxxxxxx>
To: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
Date: Wednesday, December 03, 1997 4:48 PM
Subject: Re: Usefulness of IBD
>Richard, I think if you check, you'll find that the RS line is drawn in
>comparison to the SPX, while the RS *number* is a comparison to the entire
>market. I just wondered if anybody had figured out how to duplicate the IBD
>indicators....I tried once without much success.
>
>-----Original Message-----
>From: Richard Estes <restes@xxxxxxxxx>
>To: Dick <dick@xxxxxxxxxxxxx>; metastock-list@xxxxxxxxxxxxx
><metastock-list@xxxxxxxxxxxxx>
>Date: Wednesday, December 03, 1997 12:14 PM
>Subject: Re: Usefulness of IBD
>
>
>>IBD's RS ranking measures daily the price change over the last 12 months
>>compared to all other stocks in the tables, (9000+) there may be a
>weighting
>>on quarters. It has nothing to do with SP-500 which would make it nearly
>>useless.
>>
>>To DJ, IBD is a daily newspaper and its deadlines measure in hours and
>days.
>>
>>Richard Estes
>>-----Original Message-----
>>From: Dick <dick@xxxxxxxxxxxxx>
>>To: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
>>Date: Wednesday, December 03, 1997 3:13 PM
>>Subject: Re: Usefulness of IBD
>>
>>
>>>Speaking of IBD Relative Strength, does anyone know the indicator formula
>>>for an IBD-type relative strength line. (I think it's a 200 day moving
>>>average of close/indicator (S&P 500) with a 40% weighting toward the last
>>>month, or something like that, but I called IBD a long time ago, and
>asked,
>>>only to be told it was "proprietary".)
>>>
>>>I also assumed that IBD RS <50 was weaker than the S&P and >50 was
>>stronger,
>>>but couldn't get a number that matched the IBD number.
>>>
>>>Any one have this one figured out ?
>>>
>>>
>>>-----Original Message-----
>>>From: Richard Estes <restes@xxxxxxxxx>
>>>To: chipa@xxxxxxxxxxxxxxx <chipa@xxxxxxxxxxxxxxx>;
>metastock-list@xxxxxxxxx
>>><metastock-list@xxxxxxxxx>
>>>Date: Wednesday, December 03, 1997 8:58 AM
>>>Subject: Re: Usefulness of IBD
>>>
>>>
>>>>IBD's presentation of the market place is unexcelled. The information in
>>>>their rankings alone is worth the price. I try not to look at a stock
>that
>>>>is not EPS/RS >80. RSI has nothing to do with their RS rankings. Those
>>>that
>>>>compare a stock to say SP-500 in a comparison chart waste their time
IMO.
>>>>You need how a stock stands against all stocks. Only in IBD do you get
>>>this.
>>>>
>>>>But if you are married to a few stocks, and don't care for the big
>>picture,
>>>>let it go.
>>>>
>>>>Richard Estes
>>>>-----Original Message-----
>>>>From: Chip Anderson <chipamy@xxxxxxxxx>
>>>>To: metastock-list@xxxxxxxxx <metastock-list@xxxxxxxxx>
>>>>Date: Wednesday, December 03, 1997 11:20 AM
>>>>Subject: Usefulness of IBD
>>>>
>>>>
>>>>>Question for the group:
>>>>>
>>>>>Because I can use MetaStock to compute the RSI for any stock and do
>>>>>explorations, and because the Internet provides me with all of the
>>>>>news I need, is the usefulness of Investor's Business Daily (IBD)
>>>>>dramatically decreased?
>>>>>
>>>>>I am considering not renewing my subscription. Opinions?
>>>>>
>>>>>Thanks in advance,
>>>>>Chip
>>>>>
>>>>>
>>>>>
>>>>>
>>>>>
>>>>>_________________________________________________________
>>>>>DO YOU YAHOO!?
>>>>>Get your free @yahoo.com address at http://mail.yahoo.com
>>>>>
>>>>
>>>
>>>
>>
>
>
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