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I would recommend that anyone who is interested in seeing some analytical
proof of the benefits of buying outperforming stocks on outperforming
sectors read "The Research Driven Investor" by Timothy Hayes, who works at
Ned Davis Research. Chapter ten gets on to the nitty-gritty of what time
periods to use and how frequently to rebalance. NDR actually go on to
supplement the momentum rankings with some fundamental factors, but they are
extremely thorough.
Be aware that it is very difficult to replicate Bill O'Neill's RS tables
without spending a lot of money. He has developed his own proprietary sector
lists that change frequently and are only available at a cost. The other
available industry/sector lists (e.g. S&P or Reuters) are particularly
lacking when it comes to technology - just not enough granularity.
Andrew
-----Original Message-----
From: Jose [mailto:josesilva22@xxxxxxxxx]
Sent: Wednesday, December 22, 2004 3:31 AM
To: Metastockusers@xxxxxxxxxxxxxxx
Subject: [Metastockusers] Re: Relative Strength (like Investor's Business
Daily)
The big question is: can we determine the outperforming stocks
before, or after they've reached such mighty performance?
An important question for those of us who can't trade in retrospect. ;
)
Anything yourself or Mr O'neill can share with us would be useful
indeed...
jose '-)
--- In Metastockusers@xxxxxxxxxxxxxxx, "peter fox" <pgfox@xxxx> wrote:
> Jose
> Thanks for your advice. William O'neill talks very passionately
about the RSC in his book How to make money in stocks. I respect his
writings. He makes good sense. Its about finding whether the stoick is
a leader or laggard.Hise definition is:
> "A proprietary rating that meassures the price performance of a
given stock against the rest of the market foir the past 52 weeks.
Each stock is assigned a performance rating 1 to 99 with 99 being the
best. An RS rating of 99 means the stock has ouitperformed 99%of all
other companies in terms of price performance".
> Peter
> ----- Original Message -----
> From: Jose
> To: Metastockusers@xxxxxxxxxxxxxxx
> Sent: Wednesday, December 22, 2004 6:57 PM
> Subject: [Metastockusers] Re: Relative Strength (like Investor's
Business Daily)
>
>
>
> Peter, I'd love to put something together to show off this
excellent
> tool (URSC), but I'm currently so short of available time that
sleep
> seems like a luxury for me now.
>
> There is an excellent set of articles about incorporating the URSC
kit
> into a winning trading strategy, being written for Roy's MSTT
> newsletter by a professional trader. They will be published in
the
> January and February issues of MSTT.
> http://www.metastocktips.co.nz/
>
>
> jose '-)
>
>
> --- In Metastockusers@xxxxxxxxxxxxxxx, "metastkuser"
<andysmith_999@xx
> ..> wrote:
> >
> > Peter,
> >
> > Jose has a Universal Relative Strength Comparative (URSC) plugin
for
> > MS. I looked at his website and downloaded the URSC user guide -
- it
> > looks like an excellent product.
> >
> > Before I purchase it though, I'd like to get a better
understanding
> > on how RSC is best used -- above and beyond just sorting/ranking
a
> > list of stocks.
> >
> > Jose, can we convince you to write an "Applications Note"?
> >
> > Thanks!
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