Jerry; I have Telescan ProSearch 5. I am getting discouraged with it. Two weeks ago I did a search for stocks that had a breakout on the 8-17-0 MACD on daily charts. I got back a list of stocks all listed as having the Breakout in the last 1 day. When I went to look at charts of these stocks none of them had a 8-17-0 MACD breakout in the last day. In fact, most had broken out 2 weeks prior and were moving down. In ProSearch Builder I entered Richard's list of stocks that had 130% rise in 63 days and got back 29 criteria they shared in common. One came back as Stock Exchange - Low 100%. Since that criteria has four possibilities: 1 = NYSE, 2 = AMEX, 3 = NASDAQ, & 4 = other; I was lost on what the value Low 100% meant.
Calls to tech support yielded no one who knew enough to understand what the problem was. Most of them don't know anything about the market, but are just trained to tell you how to find program features they don't know the meaning of. Persistance got me promoted to a "leave message for expert to call me" which didn't happen. Monday, after 2 weeks, I called again and finally got to the expert who said that a few (at least 6) of search criteria don't really work and that programmers are aware of it but that's as far as his job goes. In addition I shouldn't concentate on these items but should look to what the program can do good.
Well, how do I know other criteria aren't equally random? It took 2 weeks of persistant squeezing to get them to admit that there was no correlation between the criteria searched for and the facts in this case and a few others. If you have to personally verify every bit if info you get out of database, what's the point of a database? I might as well rummage through a dumpster for info at a lower cost. That would be DADA not DATA.
It could start a new movement in investing - DADAISM. Adherents could pay money (to insure image respectability and establish credibility) for comma delimited data of African botanical classifications, which could then be feed into an RS6000 UNIX empty coded database for stock quotes as D-1, D-2, etc. After trading on indicators drawn on charts of this, the investor could have an Uptown gallery showing of the charts with Bollinger Bands and Stochastics drawn in on all rag paper with hand tinted color. After art gallery commissions of 50% the investor could publish the total returns of investment (ROI), again on all rag paper. Then (the greatest beauty of the project), these returns would be hung at a SOHO gallery as a conceptual work. The proceeds of this showing (-50% gallery trading fees) would then be formulated into a new fundamental benchmark called 2nd-AIRY ROI. This dada (having been around so to speak) could then be feed directly into the RS6000 with assuredness; it's trust-worthness having been been established and re-established in the marketplace as having PURE FRACTAL VALUE >1.
I think where Telescan really fall down is in their inability to carry through the aesthetic dimensions of the project; and, I suspose, their lack of art world connections to to bring it all to fruition.
I'm relatively new around here, Jerry, but I can assure you that you came to the right spot. The people around here are generous and helpful. At this point we are both looking for the same thing. So I am eager to hear about; but especially to see in action some good scanning tools. Hopefully the NJ weekend will clearify this for me. In the meantime, if we can trade any helpful hints on ProSearch I am sure open to it. I noticed you use SC3 or 4. There are a minority of us SCers here. |
