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Shawn, your suggestion to check the exchanges for index components of certain
industry sectors is constructive, but Gitanshu's question reflects a greater
need:
that some of us would like to track new entries to these industry sectors as
quickly as they appear on the ipo horizon, and be able to download histories for
them onto our own hardrives to track them for our own systems' trade signals.
The immediate response that some pose to counter this aim is to always trade the
sector's leader and not worry about newer industry members. But this leadership
tends to rotate, even as the sectors themselves rotate their market leadership.
And leadership itself can be defined in different ways. For some of us traders,
leadership is simply momentum and volatility, not the traditional--more
fundamental--definition of leadership by portfolio managers with large block
trading requirements.
So I'm looking for more contribution on this task of total sector component
identification.
What vendors and/or websites provide the most comprehensive industry
classification system? Is it necessary to change to these data vendors in order
to take advantage of their classification process? What routines do traders
from this list use to keep up with the additions and changes to these sectors?
Is there anyway to take advantage of Metastock's more elaborate Meta File Library
data format to add an industry ID number to a stock's name in order that stocks
of differing ID's could be remain in the same directory for faster pattern
scanning?
As for myself, I come to this problem as a futures trader who is
Johnny-come-lately to recognizing that the volatility of these stocks provide as
much opportunity as the futures markets. I need to build a system of finding,
choosing, and tracking these opportunities using the same general criteria I
already use to trade futures. But I need to do this with a minimum investment
in my time on a daily basis. Therefore, websites and data vendors who are
already targeting this need are of great interest.
more comments appreciated....
Mark Scheier
Shawn Andrews wrote:
> Gitanshu Buch wrote:
>
> > Gitanshu
> >
> > > Is there a web site where I can find all of the components for the
> > semiconductor and biotech sectors?
>
> If you are looking for the semicondutor and biotech sectors, you might want
> to look at the index components of the SOX (Semicondutor index) and the BTK (
> Bioteck Index). Most of these can be got from the major exchange websites.
> http://www.amex.com
> http://www.phlx.com.
>
> Regards
> Shawn
>
> --
> "It is not how right or how wrong you are that matters,
> But how much money you make when right and how much
> money you do not lose when wrong" ....
>
> Quaerendo Invenietis
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