Dave:
First I thank you for your suggestion. I have considered a public portfolio myself, but was not able to find a tool to do it in the way I had in my mind.
Let me explain what I had in mind.
Many people subscribe to the efficient market hypothesis or theory, for example, see Burton Malkiel, A Random Walk Down Wall Street. I believe in the long run the market try to be efficient, and in the short term the market is not very efficient.
I want to find a type of inefficiency, that is, true or false breakouts. I built several computer models and scans for the purpose of finding the very short term breakouts.
There are probably as many false breakouts as true breakouts. Let's consider a stock XYZ. Say we found the breakout at $10, and XYZ moved to $13 in 3 days. But some people thought the stock was ahead of itself, sold the stock back down. Also, in an uncertain market many people would like to take quick profits. So in 2 more days XYZ moved back to $10. In a total of 5 days XYZ completed a round trip from $10 to $13 and back to $10. A portfolio that only keeps record of end of date (EOD) numbers could not tell the story. It would show no gain, or no action after 5 days. I want a software tool that could keep record of the maximum gain, not just the EOD numbers, because I believe a good short term trader can make money on a 30% move.
I do track all stocks posted in this thread for 7 days for maximum gains on my PC. And I report the stocks that gained 7% or more in this thread.
Thanks again,
Julius |
