siliconhippy
37 posts
msg #34314
- Ignore siliconhippy |
12/10/2004 9:44:16 PM
I have been an IBD subscriber (www.investors.com) for more than a year now, and pay for both the basic ($29.95/mo) and the e-tables ($14.95/mo) memberships.
1. xplorer's CANSLIM description from 11/23 is a very good summary. Unluckily I haven't seen any CANSLIM type screening on SF filters, simply because of lack of fundamental screening criteria available.
2. Neither can we screen on say, industry groups indices, which is a very powerful (and recognized) way of selecting appreciating stocks. IBD has its own Ind Gp index (197 groups), which is different from Dow Jones' Indices and Morningstar indices (Prophet.net seems to have their own, yet.)
3. IBD's prime product is the weekly IBD100 list of 100 stocks that only roughly meet CANSLIM criteria. IBD has several proprietary screens that they use (and which they do not disclose.) Basically, IBD is a major proponent of chart breakouts, specifically the cup-and-handle pattern, which its founder, William O'Neil pioneered. IMHO, SF's cup-and-handle filter does not come even close to producing the pattern formation.
4. IBD has other products (expensive): premium graphs with fundamental info on one screen, Industry Groups screening, Screening tools (not to forget Options screening), and e-Tables.
5. IMHO, given my trials with all of the above, such premiums are not worth the money. SF has great integrated charting/ filtering at a low price ($9.95/mo), and the features it is missing are basically fundamental screening which could be added for perhaps a not-so-expensive premium addition of, say, $5-10/mo. I would gladly pay for the additions, if SF also includes filtering/watchlisting of industry group indices (say DJ.)
Then SF becomes a COMPLETE package, and will beat out both the fundamental sites like IBD and tech sites (a lot of them.) Remember that daily market commentaries like the IBD ones are available for free on a number of web sites anyway.
6. The only good (and perhaps necessary) IBD premium service is e-Tables, which allows you to download the IBD100 and other couple of lists in Excel or .csv, along with fundamentals like all IBD indicators, RS, ROE, Inst. Ownership status and other useful stats on which you can effectively screen. Just sort on various columns and take out tickers that, say, have RS less than 90, and so on. The basic IBD100 list updated weekly on Fridays doesn't have all the goodies.
7. The above means that you got to spend close to $45/mo on IBD to get anywhere in practise, which is a bit steep. Without e-Tables, you will have to go back to IBD's site and manually type in every IBD100 (and other) ticker to get the stats that come with e-Tables, a very tedious process. Also, the 2 IBD watchlists (40 ticker max each) are worthless. Their half-working user group is full of angry complaints about service and the feeling that IBD is late in its market predictions.
Personally, my Joke of the Year is the IBD phrase "markets in confirmed rally" when the market is actually tanking !
8. I am not sure that posting an IBD100 list would be a copyright violation worth penalizing.
It is published in their paper as well as on their website, and while the list contents are copyrighted, limited reproduction for the purposes of discussion isn't really discouraged by IBD.
There is (was?) a free site, www.reedfloren.com, started by IBD-angries where many lists and discussions from IBD and other sites were regularly posted. IBD sent them a nice letter, but that was it. Remember, IBD100 in circulation is to IBD's advantage. Mostly, it is pretty useless unless you subscribe to IBD and "get" their mindset.
The (subscription) www.canslim.net site has some tech info regarding CANSLIM, besides its own lists. So CANSLIM is not a copyrighted methodology itself.
9. Lastly, IBD100 could be useful with tech screening, and yes there must be other sites producing very similar lists. However, as The RumpledOne keeps saying, it is how you trade and not always how you select stocks that matters.
siliconhippy
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wallman
299 posts
msg #34316
- Ignore wallman |
12/10/2004 10:45:54 PM
i won't go into what i think about IBD,O'Neill,IBD 100, CANSLIM, Acc/Dis Rating,RS rating,Smart Select rating,their seminars,etc. and all their other "pay for" services because it's just my opinion and it's not on the bright side,but i can tell you one way i know that has made big money in the past using IBD is to go "Nasdaq Stocks In The News",usually found on page B8 in the paper,put them on a watch,the lower the stock price the better,wait for a pullback into the ema13/sma20 zone,catch a green hold on above average vol and swing trade them,you'll pass by the IBD overkill and it's simple
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