Bob: back to Price to sales- OK- I used your idea below. The results for 6347 stocks output based on 12-31-97 data for one year after that- was very interesting- the average gain for the entire group was 21.18%- in line with major indexes. The best slice of the pie was from Pr to Sales of 2.01 to 6.0 wherein average returns for 1997 we consistently more than 30%. From 6.0 to 30 results were in line with the total as well as from 0.76 to 2.0 but the extremes below .76 and above 30 had subpar results. the 495 stocks with pr to sales from 0.01 to 0.25 had a negative 10.61% average return. Conclusion- selecting stocks with price to sales from 2 to 6 will improve your results in 1997.
Here is the scan I used:
output="pricetosales.lst";
daystoload=425;
daysrequired=408;
float pctgain,prtosales;
pctgain:=((close(-122)/close(-375))-1)*100;
if sharesout>0 then
if close(-375)> 1 then
if avgvol(-374,-407) > 0 then
prtosales:=close(-375)/(((qtrrev(-6)+qtrrev(-7)+qtrrev(-8)+qtrrev(-9))/1000)/(sharesout+.00001)+.000001);
if prtosales>0 then
println symbol,",",close(-375):6:3,",",close(-122):6:3,",",pctgain:5:3,",",prtosales:7:2;
endif;endif;endif;endif;
g |
