Thomas,
Well, the Fool Database is a preliminary screen. I became convinced of the merit of the Value Line timeliness ratings after reading R. Sheard's book, THE UNEMOTIONAL INVESTOR (sorry, no italics or underlining on my browser). The thing I like about this approach is that it saves you lots of time scanning column after column of IBD, something I grew very tired of when I tried the Pit-Bull thing about a year and a half ago, but still produces most of the same candidates for long positions, and probably the best ones. At least the field is narrowed based on some validated criteria. If you look down the list, you'll notice that most of the stocks listed match your criteria, and you would probably miss very few candidates this way. (How many stocks do you need to choose from, when you are only going to trade 2-6 stocks at any one time?)
Obviously the Database is useless for identifying shorting candidates, but a couple of the other screens in the workshop might serve that purpose:
fool.com
And, of course, it's free, which means I don't have to send money to a publication which, while providing the best financial information available, IMO also doubles as a right-wing rag. (Well, it's election day so I'm permitted a little editorializing).
I'm not trying to convert you--you clearly know a lot more about what you are doing than I. Someone else on the thread suggested the Value Line ratings and it occurred to me that, while you are re-thinking your approach you might want to consider this idea.
So far yesterday and today have not been working out like I had hoped, investment-wise. Time to exercise some patience--focus, center myself, become one with the market. (Do you teach oriental philosophy/religion?)
Best regards,
#B~\> |
