StockFetcher Forums · General Discussion · ETFs momentum-ranked<< 1 2 >>Post Follow-up
alf44
2,025 posts
msg #39734
Ignore alf44
12/22/2005 1:57:23 PM

glgene,

you said...

"if the Russell 3000 is going down, and since it's the barometer in your set-up, then a reading of (say) 1.09 on a southbound ETF won't mean anything (I don't think)."

------------------

Well, IF...the overall Market is going down...there IS a good chance that it will take the majority of Stocks/ETFs etc... with it ! That's pretty much a given ! The phrase "A rising tide lifts all boats" DOES usually hold true in the opposite direction (unfortunately).

However, if a particular ETF shows a Comparitve Relative Strength Rank ABOVE 1.00 (say 1.09 as per your example)...at a time when the overall Market (ie. the Russell 3000) is in a decline...then that ETF is showing "Relative Strength" vs. the Russell 3000 !

In other words, the ETF may be declining (or, maybe not)...along with the Russell 3000...but, the degree of decline is MUCH LESS than the decline of the Russell 3000 !

It is showing you that when "compared" to the Russell 3000...it (the 1.09 ranked ETF) is exhibiting "relative strength" ! It is showing you that even in a declining Market environment...and at a time when the majority of the stocks in the Russell 3000 are declining and taking the Index LOWER in the process...that it (the 1.09 ranked ETF) is OUTPERFORMING the Russell 3000 by not declining as much...on a relative basis !

That's still pretty powerful information to have !


Regards,

alf44





TheRumpledOne
6,358 posts
msg #39735
Ignore TheRumpledOne
12/22/2005 2:47:00 PM

I am running Advanced StockFetcher... I forget that some of you traders have not upgraded so the filters are beyond the basic subscription capabilities.

You really should upgrade. One trade pays for the difference!




rharmelink
81 posts
msg #39754
Ignore rharmelink
12/25/2005 12:30:22 AM

I have a script that calculates a relative strength similar to IBD:

Fetcher[

/* IBD Relative Strength for ETFs */

set{ cq0,close }
set{ cq1,close 3 months ago }
set{ cq2,close 6 months ago }
set{ cq3,close 9 months ago }
set{ cq4,close 12 months ago }

set{ roi1z, cq0 - cq1 }
set{ roi1, roi1z / cq1 }

set{ roi2z, cq1 - cq2 }
set{ roi2, roi2z / cq2 }

set{ roi3z, cq2 - cq3 }
set{ roi3, roi3z / cq3 }

set{ roi4z, cq3 - cq4 }
set{ roi4, roi4z / cq4 }

set{ rsvz, roi4 + roi3 }
set{ rsvy, rsvz + roi2 }
set{ rsvx, rsvy + roi1 }
set{ rsvw, rsvx + roi1 }
set{ rsv, rsvw / 5 }

set{ lrs250, linear regression(250) slope }
set{ sq250, r squared(250) }

show etf

add column rsv
add column lrs250
add column sq250
add column roi1
add column roi2
add column roi3
add column roi4
add column CQ0
add column CQ1
add column CQ2
add column CQ3
add column CQ4

sort column 5 descending

]




glgene
523 posts
msg #39769
Ignore glgene
12/27/2005 11:53:18 AM

Alf, you said (in part): It is showing you that even in a declining Market environment...and at a time when the majority of the stocks in the Russell 3000 are declining and taking the Index LOWER in the process...that it (the 1.09 ranked ETF) is OUTPERFORMING the Russell 3000 by not declining as much...on a relative basis ! That's still pretty powerful information to have!"
=====================================

I agree it's important info to have. But the question is, When do you step aside when the overall market is going down? My theories:

1) Better to make a lot than a little.
2) Better to make a little than break even.
3) Better to break even than lose a little.
4) Better to lose a little than lose a lot.

With #4, you're still losing (your example), but not as much. I'm not opposed to using #3 in a general market decline.

I really do appreciate your bringing the relative strength script to my knowledge. I've read more about it in the SF manuals. Makes sense. I'm going to experiment with it some more. I'm going to test it with the Vanguard 23 ETFs. Can you script, "Stock is Vanguard?"

GL Gene


Stocksight
33 posts
msg #40118
Ignore Stocksight
1/10/2006 9:49:33 PM

TRO, I have the SF advanced subscription and am also getting errors running the filter. I'm wondering if there is a problem with SF? Looks like a great filter! Thx


Stocksight
33 posts
msg #40130
Ignore Stocksight
1/11/2006 3:28:29 AM

TRO - I am able to run your ETF filter & Zoom Lens. Clicking on the filter link truncated the filter text. Cutting and pasting did the trick. EWJ was a surprise! Thx


StockFetcher Forums · General Discussion · ETFs momentum-ranked<< 1 2 >>Post Follow-up

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