John and Ralph,
I think Ralph's suggestion that we divide up the task of screening candidates is a good one. How should we do it? I think daily, but who does what? Do we want to limit the price? Merit? Charts?
I also would like to study your picks, John, to see how the merit picks came out, how the chart looked, etc. I don't think the numbers you are suggesting sound terribly convincing compared to some of the results advertised by Ford (although each of his advertised success stories are easily verifiable, and I have done so).
I feel that chart patterns are critical to weeding out the picks (perhaps more so than the merit ranking), and Ford's website confirms that he focuses heavily on classic patterns. I also think that the merit screen may get in the way of picking more growth oriented stocks, although over the past week, stocks like DE and CAT have clearly performed better than many smaller growth stocks that I follow.
As far as screening every day, I think it's a part of the system I would be willing to overlook in order to really test the Pitbull. For example, how could you ignore a stock like GEHL which gave it's signal before Monday's IBD?
Jeff
P.S. I'm happy to post this weeks shorts, if you are interested. I'm paper trading it, and there should be some candidates this week (although many are stocks that I am long and I think look really strong). |
