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     ANovice
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Votes: 0
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| | Friday, April 05, 2002 - 12:38 pm: |  
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As per recommendations from Lepe and Shonky, I read Stan Weinstein’s book. It was quite informative. Now I am trying to use some of the information to do paper trading and modify the system(maybe)to suit my requirements. Here is where I need help.
I can determine from sector analysis, as described in one of the previous communications, which sectors are moving into Phase 2 or at least doing well e.g. XMI. However, this provides me with several stocks in each “positive” sector that I have to analyse one-by-one. Obviously I am doing it incorrectly.
1. Is there a method of searching for stocks in each sector that are starting to move above their 30-week MA, have an increase in volume and improving RS (as per Stan’s book)?
2. Is there a way of setting up display of charts to display stock price with 30 week MA, RS, volume and MACD on the same screen (similar to Stan’s methodology)? How would you do it?
Can someone please assist me with the 2 queries I have posted above? I do realise the above queries maybe very basic for some of you, but I would appreciate some help. It will save me time and hopefully money.
Cheers
ANovice
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ANovice
Rating: N/A
Votes: 0
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| | Wednesday, April 10, 2002 - 01:34 pm: |
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Hi all,
Where did everyone go? Surely this query is not that easy that it doesn't warrant a response. Or that difficult for some of you experienced folks out there!!
Any assistance would be welcome. Thanks.
Cheers
ANovice
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Shonky
Rating: N/A
Votes: 0
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| | Wednesday, April 10, 2002 - 07:37 pm: |
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Anovice
What criteria are you using for your stock screens?
Consider that time spent on research may be a slog, but in the long run it's rewarding.(literally)
I know it's not an answer, but it's still a response.
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jester
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Votes: 0
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| | Thursday, April 11, 2002 - 12:10 am: |
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this won't be what your after either but take it as maybe an idea.
choose your sector to search for stocks
choose moving averages cross over eg 10 and 20
your might want it to search more then 10 days though.
in %price move 1 month minimun just enter 1
hit submit
now you can arrange the stocks return by the amount of % increase they have had for that month by clicking on the top of that column.
as you go down the list you will get some shares that will have spiked in price at the top but then you start getting shares that have been consistant with there price increase for the month and generally with better volume. put a volume indicator on your chart so you can see what it's doing.
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lepe
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Votes: 0
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| | Thursday, April 11, 2002 - 03:40 pm: |
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anovice-
as a generic thing, stan does mention that you shorten the ma's if you trade shorter term. so.
i assume you're asking how to use chart filters - for question 1-
i use
search asx500
price range= your preferred range (i tend to use 20-120 this week)
ma - close is greater than 50 day ma (use 9999)
ma xover - close greater than 20 day av
vol spike - greater than 1.5 of 3 trade days
vol ma xover - close greater than max20 over 3 trade days.
this gives you a pretty basic kick-off. i use macd and elders (new) as next basis.
it depends on how many stocks i get as to whether to go on to macd and elders - and i may have to extend/shorten criteria, depending on numbers.
this ain't the perfect answer - (none is) - but if you tweak this - it may be a start
cheers
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lepe
Rating: N/A
Votes: 0
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| | Thursday, April 11, 2002 - 03:44 pm: |
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anovice - for q2 - you're probably best to fiddle with q1 and from there, it's just tweaking to your personal taste. if still problems - feel free to lob back.
ps - as a stan reader on recommendation, does it get the thumbs up???
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ANovice
Rating: N/A
Votes: 0
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| | Friday, April 12, 2002 - 12:31 pm: |
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Shonky, Jester and Lepe,
Thanks for your recommendations. I will review them on the weekend. Too busy during day.
Lepe - Yes, I give Stan's book thumbs up. I liked the way he 'walked through' the examples after explaining the concept. It always helps with a beginner like me. His writing style is easy to read and understand. I was also impressed with the Q&A as it gives a beginner a chance to evaluate one's understanding.
I will update this conversation on Monday.
Have a good weekend folks.
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ANovice
Rating: N/A
Votes: 0
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| | Thursday, April 18, 2002 - 12:36 pm: |
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I do have a further query. I am attempting to develop/test my own system based on information provided above and Stan's system.
As a starting point,I wanted to find all shares that have crossed above their 30 week MA within the last week. Then I can apply other criteria to narrow down the search. But I am stuck at step 1. I used the following criteria in the stock screening module:
ASX500
MA Xover - Close, 150 days (5 trading days x 30), Bull signal, Within the last 5 trading days.
The above gave me a large list of shares such as Woodside (WPL), Westpac (WBC). I don't mind a large number of shares being selected but when I look at the above 2 shares, the crossover above 150 days occurred several weeks ago in case of WPL as per the daily chart, NOT within last 5 days. I am confused. Obviously I have taken a wrong turn and ended up in the toilet in deep pooh, but what have I misunderstood.
Q1. Does the search criteria search on daily charts? If so then I should see the prices move above the 30 week MA line within the past 5 days as per my criteria.
Q2. If I have used incorrect criteria, pls tell me the correct criteria I should use?
Thanks folks.
ANovice
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Colin Twiggs
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Votes: 0
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| | Thursday, April 18, 2002 - 05:42 pm: |
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ANovice
Your criteria are correct (though I prefer a 5-day or 10-day MA instead of "Close").
WPL and WBC both closed below the 150-day MA in the last 5 days and then turned back up.
Colin
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philmeg
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Votes: 0
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| | Tuesday, April 23, 2002 - 08:58 pm: |
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I agree with ANovice..it doesnt seem that we can find stocks just making a breakout as per Weinstein's book form the stock search inputs.
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Colin Twiggs
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Votes: 0
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| | Tuesday, April 23, 2002 - 09:05 pm: |
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Philmeg
I suggest that you stick to your game plan - the market is quiet at the moment with not much volume outside the top 20.
Colin
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andy ferguson
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Votes: 0
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| | Thursday, May 23, 2002 - 08:35 pm: |
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Stan Weinstein seems to have a prominent spot. Haven't read the book or tried his system.While surfing, i came accross ratings for his newsletter, "The Professional Tape Reader" on the " Hulberts Financial Digest" page; American crew who disect 160 newsletters with 450 portfolios. According to them, over the past 15 years his newsletter portfolio ( unsure if real or theoretical) has returned minus 9%. I assume he follows his own advice as given in his book.?????????????
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Colin Twiggs
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Votes: 0
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| | Friday, May 24, 2002 - 06:52 pm: |
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Thanks Andy
It doesn't seem likely with his strategy but I will investigate.
Who came out tops? The guys at the top vary depending on the phase of the market - but the best ones should still be positive.
Colin
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Colin Twiggs
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Votes: 0
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| | Friday, May 24, 2002 - 07:24 pm: |
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Andy
The only reports I could find were for fund investments - Professional Tape Reader showed 9% average over 10 years.
Please send me a link.
Colin
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andy ferguson
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Votes: 0
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| | Saturday, May 25, 2002 - 11:30 am: |
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Colin,
I came across the page via 9 msn search engine, looking for " The Professional Tape Reader". Go past the first page of links( which includes Hulbets Digest) and on the second page: click on www.neumedia.net/dpec/courses/ivfo20.htm
Page should open on hulberts best and worst newsletters. It's actually module 6 page 20 of some basic investment course. Have tried to access via other routes including direct via above address but for some reason they require username and password. The search engine route seems the only acess. Re. annualised gains over 15 years. the best was The Prudent Speculator plus 18.3%
Worst was The Granville Market Letter minus 25.2% and PTR was minus 9%
Hope I'm reading it right here and not causing unnecessary confusion.
regards
andy
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