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Strategies & Market Trends : Point and Figure Charting
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To: Smooth Drive who wrote (25472)7/18/2001 1:07:19 AM
From: Atin  Read Replies (2) of 34811
 
Oh we charge too in case you hadn't noticed! <g>

The Extra subscription gives you the ability to write user defined scans (thse include P&F pattern scans too) and annotation/saving of charts (not P&F charts yet - I have been swamped!).

Regarding the NYSE BP questions I've been asking:

I made an interesting discovery yesterday regarding the NYSE BP. I ran my scans using a different datafeed (Worden Brother's TC2000). I created a BP chart using their NYSE stocks and the chart happened to be almost identical to the DWA BPNYSE chart I saw last week. So I went and actually looked at what stocks TC2000 thinks are part of the NYSE and it turned out a lot were missing - their NYSE list had 2611 stocks in it. There were things missing that were obviously mistakes. And I kid you not, the charts were almost identical (one box off every now and then, nothing significant). The whole darn thing seems too random and I don't know who to believe anymore!

So here is what we're thinking of doing at StockCharts.com:

We're soliciting feedback on what people think the NYSE (and Nasdaq etc) list of stocks should be for the bullish percent charts. We're going to try to come up with our own definition that makes sense to us and our users and that we can explain beyond saying "a 6th grader could do it". So lets try to come up with a list of requirements for the listings on the NYSE that would make them get included in the bullish percent calculations.

My tentative list goes something like:

1. Include all common stocks on the NYSE.
2. No preferred stocks, warrants, bonds etc.
3. Volume test - maybe we should be filtering out seriously low volume stocks since they won't be affecting the overall market anyway, but I can't think of what the filter should be.
4. What about Class A vs Class B shares - e.g. BRKA and BRKB are identical except for the scale, but I'm not sure the oracle of Omaha should get 2 votes - so maybe we should throw out Class A shares.

I'd be happy to hear more suggestions - you can reply to this thread, send me email at atin@stockcharts.com, send Chip email at chipa@stockcharts.com or just use the feedback link on the P&F page on StockCharts.com. We'll put all this together and when we put the resulting charts up, we'll also make sure that we make it obvious what stocks we're using so everyone can check the numbers for themselves. We already do for the NYSE actually:

stockcharts.com

so this might be a good place to start to figure out what symbols we should be throwing out of the calculations.

Thanks a lot,

-Atin
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