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Here are some thoughts:
Joe Stratmann wrote:
> I'd appreciate some feedback as to how I'd go about performing a
> Relative
> Strength Study in PS 2000i. I'm kinda new to the product so bear with
> me
> please.
I think want to do a spread. Add each index (or whatever) to a chart.
Then insert the indicator called Spread x/y. X will be data1 and y
data2.
> I'd like to play with the Relative Strength studies in which I will
> possibly
> do the following (Relative strength will be one index divided by
> another or
> one stock divided by it's sector index):
>
> 1) Compare say a Large Cap index to a small Cap index
>
> 2) then find sectors indices to compare to the S&P 500 for instance.
Sector data is available from Dial Data. The carry 50-75 industry group
indices. Put those in ChartScanner/Workplace Assistant and screen for
those with a positive spread vs the SP500 for example. I expect there
are ways to pr9int this if need to.
> 3) Once finding the strong sectors find a stock that is strong
> relative to
> the others in it's sector
If you look at the interview with John Murphy in the Bonus Issue, 1999
of Tech Analysis of Stocks and Commodities (TASC) he describes his
approach. He apparently tracks 5-10 historically strong stocks in each
of his sectors. When that sector rallies, he goes to his stock menu to
find the currently strongest of the historically strongest. This
simplifies the matter a lot. When I traded thisway I kept a workspace
for each industry group
> Obviously I'm simplifying this. But... I'm curious as to how the heck
> I can
> do something like this without losing my mind.
See above.
> Say I'm interested in the DJIA, S&P 500, Nasdaq, Wishire & Russell.
> For
> sectors I'd like Health Care, Computer Hardware, Internets, Software,
> BioTech, Finance, etc.... Then finally, quite a few of the stocks in
> each
> index.
See what indices you data provider puts out. different organizations
slice and dice stocks differently. I've used Market Guide's list that
is available on their website. Investors business Daily has ~200
industry groups. DecisionPoint.com will sell you a service that does
everything you want and e-mails it to you daily. You should check DBC's
web site. YOu could also use Business Week's quarterly earnings report
issue for their groups and stocks.
> - How can I automate this in some manner? That would be a LOT of
> charts to
> manually load.
Subscribe to Decisionpoint.com.
> - Where can I find a list of stocks that make up each sector index and
> where
> can I find the symbols for the sector indices? (using End Of Day for
> this)
> Join John Murphy's website. He focuses on sector rotation and
> answers e-mail questions. It is a steal.
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