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Non-Tech : STOCK SCREENING/TECHNICAL ANALYSIS SOFTWARE

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To: who wrote ()6/21/1996 7:08:00 PM
From: Fred Weiss   of 41
 
Hello All -

I've been using Trendsetter's Pro Analyst for real time and Personal Hotline for more in-depth analysis. It's a Macintosh set of programs only so some of you will be ruled out, but it is pretty easy to learn and work with.

The real time feed has to be either DBC or BMI. Historical data is downloaded from Dial Data. I would rate the program Fair to Good. Strong on ease of use, quick charting from tick to monthly and a decent group of indicators. Candlestick charting with pattern identification is standard, along with bar, line and point & figure. Main weakness is the general lack of any way to set up your own trading model beyond the basics.

I recently ordered in TradeStation Real Time and sent it back after one day. It's probably a terrific program but it comes with nine pounds of books (I weighed them) and videos that require a Jolt soda or a gallon of coffee to sit through. The program is obviously very powerful but is also quite cryptic and unintuitive to work in. When I returned it, I ordered SuperCharts which is only $199. It has most of the same features and I won't feel the financial pressure to learn it quickly. One can then upgrade later to TradeStation.

Windows on Wall Street was last year's hot consumer product. Not particularly aimed at short term and day traders. I was unimpressed. They just did a major update that I haven't looked at.

Probably the best combination of easy learning and power I've looked at for real time play is Live Wire by Cablesoft. Very quick and allows a consecutive filter on filter type of approach using whatever parameters you want to use in real time. Allows tracking of up to 50,000 symbols at the same time. Main problem is that it's DOS only or I'd go with it. I stay with Windows and Mac applications only. Pro version is $595. (805) 646-0094.

My favorite play with Pro Analyst is to set up a 1 minute chart with moving averages set to 5 minutes and 50 minutes. Buy and sell on the MA crossovers. Yesterday produced realized profits of 7 points from 3 long positions on Iomega although the stock only closed +3/4.

Fred Weiss
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