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This does not surprise me one bit. This "flight to quality" seems to have caught utilities on fire. I'm getting screwed on a trading range short play on FE. Take a look at that one if you want to see a sick short...
David Walton
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From: UG[SMTP:ug@xxxxxxxxxxxx]
Sent: Friday, October 02, 1998 5:01 PM
To: metastock@xxxxxxxxxxxxx
Subject: Mr. Manasco...
Based on a post John Manasco gave some time ago, I wrote a system which
screened stocks based on his system (with only minor modifications),
since it corresponded very closely to many things I've been kicking
around; new highs, accumulation, high trending characteristics, adequate
liquidity and enough price to make it not quite so speculative.
Anyway, it picked Montana Power (MTP) on 9/23. As I like to buy on
strength, I put in a stop order for 42 5/8. (high of 9/23 + 1/16). On
9/24, sure enough, it hit (barely).
Given the market of the last few days, I'm pleased (and surprised) to
note that it is up $3.25 so far.
Here's the original post:
> So here's my system. I screen every day for stocks making new 250 day
> highs using the hhv function, C>hhv(C,250). I look for stocks whose
> closing price is greater than 5 and less than 100. I screen for stocks
> whose 50 day moving average of volume is greater than 50000 shares.
> Mov(V,50,S)>500. I look for stocks whose ADXR is greater than 30,
> ADXR(14)>30 and whose ADXR is rising, ADXR(14) > Ref(ADXR(14),-5). I
> also screen for stocks being accumulated using the Chaikin A/D
> Oscillator, CO() > 0 and CO()>Ref(CO(),-3). This give me a rising
> accumulation line.
Just wanted to share my good luck so far, and give Mr. Manasco credit
where credit is due.
--
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Attachment Converted: "c:\eudora\attach\RE Mr. Manasco..."
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