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1997-10-10
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From: canslim-owner@xmission.com (canslim Digest)
To: canslim-digest@xmission.com
Subject: canslim Digest V1 #313
Reply-To: canslim@xmission.com
Sender: canslim-owner@xmission.com
Errors-To: canslim-owner@xmission.com
Precedence:
canslim Digest Friday, October 10 1997 Volume 01 : Number 313
In this issue:
Re: [CANSLIM] CDG..and OLOG...your thoughts
Fw: Fw: [CANSLIM] Re: Oils
Re: [CANSLIM] Real timequotes
Re: [CANSLIM] Real timequotes
Re: [CANSLIM] Real timequotes
Re: [CANSLIM] Real timequotes
Re: [CANSLIM] Real timequotes
Re: [CANSLIM] Real timequotes
Re: [CANSLIM] Price targets
Re: [CANSLIM] Re: Oils
Re: [CANSLIM] Real timequotes
Re: [CANSLIM] Real timequotes
[CANSLIM] Fw: SPLH
Re: [CANSLIM] Short Interest
Re: [CANSLIM] Real timequotes
Re: [CANSLIM] NYSE highs on Thursday - TTN
Re: Fw: [CANSLIM] Re: Oils
Re: [CANSLIM] Real timequotes
Re: [CANSLIM] Price targets
Re: [CANSLIM] Re: Oils
Re: [CANSLIM] Real timequotes
See the end of the digest for information on subscribing to the canslim
or canslim-digest mailing lists and on how to retrieve back issues.
----------------------------------------------------------------------
Date: Fri, 10 Oct 1997 09:44:04 -0400 (EDT)
From: Dbphoenix@aol.com
Subject: Re: [CANSLIM] CDG..and OLOG...your thoughts
In a message dated 97-10-10 05:23:30 EDT, you write:
<< Another stock that appears to have just broken out in the same
category is OLOG. It is a more recent breakout with much better
volume for the last few days. It looks like this oil related stock
may have been overlooked up until recently since it is involved in
logistical supply of offshore oilwells and not directly invoved with
the drilling. Any thoughts on this one?????
Lost >>
Wish I could help. I bought what I did because of their CS characteristics
and chart patterns and am in no way an expert in oil stocks. If OLOG fits,
no reason not to go for it.
- -----Db
------------------------------
Date: Sat, 11 Oct 1997 04:24:18 +1300
From: "Dean Edwards" <d_edwa00@ihug.co.nz>
Subject: Fw: Fw: [CANSLIM] Re: Oils
I didn't like the chart pattern for OLOG nor the RS at 64. I checked the
5yr 1yr 6 month and 3month charts against the 50DMA and 200 DMA and overall
it just didn't subjectively "stand out" and grab my attention. Read the
SEC reports but will still add to my watch list. Because of its importance
as a barometer of the oil industry group. The current earnings are
explosive and the fundamentals look fine.
> Take a look at OLOG and give me your thoughts.
>
------------------------------
Date: Fri, 10 Oct 1997 16:45:49 -0400
From: "Charles F. Corbit III" <ccorbit@sprynet.com>
Subject: Re: [CANSLIM] Real timequotes
I just got off the phone with sales from pcquote in regard to their
services during the discussion the salesperson informed me that the
exchanges define real time quotes as 15 minutes or less !!! So he said
although he believe they have a superior product relative to their
competitor that they are at the mercy of the exchanges.
Just wondering if anyone has any comments or has heard that before ?
Also, I have be investigating InterQuote. I tired the InterQuote demo and
thought 19.95 a month was reasonable for delayed quotes as it is like a
spreadsheet and I can cut and paste the data into an access program I wrote
for quick analysis intraday. However, the options feed on the delayed
quotes are terrible as best and I would have to pay about 70 a month for
real time to get a better feed.
The thing is that although real time would be nice, I really don't need RT
as I am not a day trader. I make a lot of short term trades, 1-4 days. I
also pay 40 a month for DialData (end of day) feed into Metastock.
So that said here is my question. I would like to be able get delayed
quotes in a format which I can quickly cut and paste into a spreadsheet or
access for quick option analysis and also populate my metastock files at
the end of the day. Does anyone else do this and can they tell me what
services they us ? I would like to keep costs as low as possible, but I
need to be able to automate data entry so I don't have to be transferring
numbers manually and I need both intraday and end of day quotes.
Thanks,
Charlie
- ----------
> From: sam <sam5@mindspring.com>
> To: canslim@xmission.com
> Subject: [CANSLIM] Real timequotes
> Date: Thursday, October 09, 1997 2:40 PM
>
> Does anyone notice Datek's "real time" quotes aren't real time. I have
two
> on-line brokers and did a test the other day and found datek's "real time
> quotes" to be slower than Yahoo's 15 min delayed quotes. They were not
> always later than Yahoo's but every once in a while they would be. I also
> compaired them to DLJ online (formerly PCFN) and found they had slower
> quotes than DLJ everytime. I am sending them within a fraction of a
second
> apart and I am seeing a greater discrepancy than I would have imagined.
>
> Has anyone else tried this test? What were your results?
>
>
> Sam
> sam5@mindspring.com
------------------------------
Date: Fri, 10 Oct 1997 16:45:49 -0400
From: "Charles F. Corbit III" <ccorbit@sprynet.com>
Subject: Re: [CANSLIM] Real timequotes
I just got off the phone with sales from pcquote in regard to their
services during the discussion the salesperson informed me that the
exchanges define real time quotes as 15 minutes or less !!! So he said
although he believe they have a superior product relative to their
competitor that they are at the mercy of the exchanges.
Just wondering if anyone has any comments or has heard that before ?
Also, I have be investigating InterQuote. I tired the InterQuote demo and
thought 19.95 a month was reasonable for delayed quotes as it is like a
spreadsheet and I can cut and paste the data into an access program I wrote
for quick analysis intraday. However, the options feed on the delayed
quotes are terrible as best and I would have to pay about 70 a month for
real time to get a better feed.
The thing is that although real time would be nice, I really don't need RT
as I am not a day trader. I make a lot of short term trades, 1-4 days. I
also pay 40 a month for DialData (end of day) feed into Metastock.
So that said here is my question. I would like to be able get delayed
quotes in a format which I can quickly cut and paste into a spreadsheet or
access for quick option analysis and also populate my metastock files at
the end of the day. Does anyone else do this and can they tell me what
services they us ? I would like to keep costs as low as possible, but I
need to be able to automate data entry so I don't have to be transferring
numbers manually and I need both intraday and end of day quotes.
Thanks,
Charlie
- ----------
> From: sam <sam5@mindspring.com>
> To: canslim@xmission.com
> Subject: [CANSLIM] Real timequotes
> Date: Thursday, October 09, 1997 2:40 PM
>
> Does anyone notice Datek's "real time" quotes aren't real time. I have
two
> on-line brokers and did a test the other day and found datek's "real time
> quotes" to be slower than Yahoo's 15 min delayed quotes. They were not
> always later than Yahoo's but every once in a while they would be. I also
> compaired them to DLJ online (formerly PCFN) and found they had slower
> quotes than DLJ everytime. I am sending them within a fraction of a
second
> apart and I am seeing a greater discrepancy than I would have imagined.
>
> Has anyone else tried this test? What were your results?
>
>
> Sam
> sam5@mindspring.com
------------------------------
Date: Fri, 10 Oct 1997 17:59:30 -0400 (EDT)
From: PPNewell@aol.com
Subject: Re: [CANSLIM] Real timequotes
If you are watching just a few stocks I would try either Excel(or Quattro Pro
) with a PC Quotes Web Query or for end of day you can't beat QuotesPlus at
15.95 a month, i've used dial data. Also, www.dbc.com gives delayed quotes
as do many others.
<< So that said here is my question. I would like to be able get delayed
quotes in a format which I can quickly cut and paste into a spreadsheet or
access for quick option analysis and also populate my metastock files at
the end of the day. Does anyone else do this and can they tell me what
services they us ? I would like to keep costs as low as possible, but I
need to be able to automate data entry so I don't have to be transferring
numbers manually and I need both intraday and end of day quotes.
>>
------------------------------
Date: Fri, 10 Oct 1997 18:37:13 -0400
From: "Charles F. Corbit III" <ccorbit@sprynet.com>
Subject: Re: [CANSLIM] Real timequotes
Hi,
I follow about 300 stocks, 50 options, and 25 indices. I messed around
with the web queries, which I thought would be nice, but it doesn't seem to
allow you to modify the query, so after you arrange the spreadsheet and hit
refresh, it reloads the original template and format.
- ----------
> From: PPNewell@aol.com
> To: canslim@mail.xmission.com
> Subject: Re: [CANSLIM] Real timequotes
> Date: Friday, October 10, 1997 5:59 PM
>
> If you are watching just a few stocks I would try either Excel(or Quattro
Pro
> ) with a PC Quotes Web Query or for end of day you can't beat QuotesPlus
at
> 15.95 a month, i've used dial data. Also, www.dbc.com gives delayed
quotes
> as do many others.
>
> << So that said here is my question. I would like to be able get delayed
> quotes in a format which I can quickly cut and paste into a spreadsheet
or
> access for quick option analysis and also populate my metastock files at
> the end of the day. Does anyone else do this and can they tell me what
> services they us ? I would like to keep costs as low as possible, but I
> need to be able to automate data entry so I don't have to be
transferring
> numbers manually and I need both intraday and end of day quotes.
> >>
------------------------------
Date: Fri, 10 Oct 1997 18:50:02 -0400
From: "William E. Morrison" <billmorr@erols.com>
Subject: Re: [CANSLIM] Real timequotes
If you only want a few quotes
http://quote.yahoo.com (no www)
also exports to a csv file for free. You can set up your own quote
track. You might also want to check Deja News for a Metastock
converter. I don't use Metastock but I have seen many after market
converters.
http://www.fastlane.net/homepages/wallst/
may have one.
You might also check
http://www.netquo.com/
Bill Morrison
PPNewell@aol.com wrote:
>
> If you are watching just a few stocks I would try either Excel(or Quattro Pro
> ) with a PC Quotes Web Query or for end of day you can't beat QuotesPlus at
> 15.95 a month, i've used dial data. Also, www.dbc.com gives delayed quotes
> as do many others.
>
> << So that said here is my question. I would like to be able get delayed
> quotes in a format which I can quickly cut and paste into a spreadsheet or
> access for quick option analysis and also populate my metastock files at
> the end of the day. Does anyone else do this and can they tell me what
> services they us ? I would like to keep costs as low as possible, but I
> need to be able to automate data entry so I don't have to be transferring
> numbers manually and I need both intraday and end of day quotes.
> >>
------------------------------
Date: Fri, 10 Oct 1997 19:25:50 -0400
From: "William E. Morrison" <billmorr@erols.com>
Subject: Re: [CANSLIM] Real timequotes
The subject of real time quotes struck a nerve with me over the last
year or so. It's seems each quote service claims to be at the mercy of
the exchange. Wouldn't that mean if one was slow today all would be
slow today. Something doesn't make sense.
I think what is really the future is level II quotes over the web. I
went by an All-Tech Investment office in Falls Church, Va and watched a
level II screen the other day and I was amazed at the difference. The
number of trades being placed outside the spread bothered me. Example a
stock with a Bid/Ask of 45.125 X 45.25 traded at 45.625. I understand
from my questions to them that this is where a brokers locks in with a
given market maker or trades in house.
Another source is Cyber-Trader. If you want to see a 3 minute video,
check
http://www.cyber-corp.com
Then go to the Trading Room and click on the picture about half way down
the page. It takes a couple of minutes at 28.8. Or they have an on
screen demo which takes longer but is more descriptive.
Bill Morrison
>Charles F. Corbit III wrote:
>
> I just got off the phone with sales from pcquote in regard to their
> services during the discussion the salesperson informed me that the
> exchanges define real time quotes as 15 minutes or less !!! So he said
> although he believe they have
------------------------------
Date: Thu, 09 Oct 1997 19:29:24 +0400
From: MacMama&theLooneyTunesGang <Duncan@US-South.net>
Subject: Re: [CANSLIM] Price targets
Dg wrote:
>UTI, for example, is well beyond its '98 price target, one
of the reasons I sold at 40 (I bought at 11, so I can't complain).
Several
others are approaching near-term full value. I calculate CDG, for
example,
at 80-82.
How do we calculate a price target? I have FGII which has been running
up very nicely and is splitting tomorrow. Will this help sustain the
momentum?
Gail
BTW - I enjoy your comments enormously. Thanks!
------------------------------
Date: Fri, 10 Oct 1997 20:53:04 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Re: Oils
Just today, I noticed several stories (including one on CNBC which
I caught part of) warning that the stellar performance of the oil
and oil related groups won't continue. It seems everyone is
starting to recognize that there is some over-valuation, and is
stressing to not just pick any stock because it is oil (or
related), but rather to do the homework.
Any statements or opinions are strictly my own and not that of my
employer. My comments should not be interpreted as a recommendation
of any kind. I am a licensed (inactive) broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet. Hopefully
my comments will better inform and educate all investors.
tom w
- ----------
> From: Dbphoenix@aol.com
> To: canslim@mail.xmission.com
> Subject: Re: [CANSLIM] Re: Oils
> Date: Friday, October 10, 1997 9:39 AM
>
> In a message dated 97-10-10 02:12:04 EDT, you write:
>
> << I have not done enough research but would like know how the
tanker
> industry is
> doing. They are a cyclical industry. As a group they are tied
in with the
> fortunes of the oil industry. Are they rising or dying?
>
> I still don't have a satisfactory answer as to why they are
surging as a
> whole. World oil consumption seems to be in check, inflation is
low, even
> oil
> prices are steady, and no war or political turmoil's involved.
> >>
>
> I don't pretend to be an expert in all this. I bought UTI, AZZ,
KEG and VPI
> simply because they shows up on a scan several months ago. It
wasn't until a
> bit later that I realized the whole group was rising and set out
to educate
> myself so I could pick up a few more companies.
>
> Demand is or is expected to rise because of Asia, particularly
China. At the
> same time, there's a shortage of rigs for various reasons.
Hence, the
> increase in profits. Similar to the chip story a couple of years
ago, when
> MU shot up to 95. In this case, however, demand is not so easily
satisfied
> and analysts see this profit picture continuing for several
years.
>
> The problem for me from a market standpoint is that many of these
stocks have
> already reached 1998 price targets. In some cases, they've
reached 1999.
> This is not how markets work. At some point, they must correct,
or at least
> consolidate. Those who are buying now in anticipation of a
continued,
> sustained runup may wind up being very disappointed. Not that
these stocks
> will crash like MU did. But it pays to keep in mind that we are
not talking
> about hot software companies here. If nothing else, they will
not be granted
> infinite PE expansion.
>
> ----Db
------------------------------
Date: Fri, 10 Oct 1997 21:05:17 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Real timequotes
Maybe I am just naive, but I have never heard of real time defined
as within 15 minutes. My ILX service at work is true real time, and
does cost my co a bundle, and even then option reporting (printing,
as on the "tape") can be quite delayed. This is esp true when a
stock or an exchange is in a "fast market" (lately the Pacific
Exchange has had this happening a lot, and they are about the
slowest at printing options executions). From my background, there
is real time (which is as close to actual execution as possible, on
NASDAQ I think BDs are required to "print" a trade within 45
seconds of execution or be fined), and there is "delayed"
reporting, usually defined as 15 minute delay (or less). If a BD is
selling a "real time" reporting service, but defining it as within
15 minutes, I suspect they could be had for false advertising at a
minimum, and even possibly fraud and forced to refund the fees they
were charging over delayed reporting. Now, if they are using this
definition to just cover their a__es, and in fact a high percentage
of reports are only a minute or so late, then they are probably ok.
But to give you an example, it is not uncommon for me to be able to
give a broker an execution report, as well as see it "printed"
within 60 seconds of physically entering the order. This includes
whatever nanoseconds it took to speed thru the telephone wires and
computer systems from Miami to NY, Chicago, San Francisco, etc. to
reach the floor, plus be executed, plus speed thru other wires and
systems back both to give me the execution report as well as to be
printed. This is true both for options and for equities. On an OTC
stock, which I execute by phone, I usually have the execution
within one minute, and see it printed within 30 seconds thereafter.
Any statements or opinions are strictly my own and not that of my
employer. My comments should not be interpreted as a recommendation
of any kind. I am a licensed (inactive) broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet. Hopefully
my comments will better inform and educate all investors.
tom w
- ----------
> From: Charles F. Corbit III <ccorbit@sprynet.com>
> To: canslim@mail.xmission.com; canslim@xmission.com
> Subject: Re: [CANSLIM] Real timequotes
> Date: Friday, October 10, 1997 4:45 PM
>
> I just got off the phone with sales from pcquote in regard to
their
> services during the discussion the salesperson informed me that
the
> exchanges define real time quotes as 15 minutes or less !!! So
he said
> although he believe they have a superior product relative to
their
> competitor that they are at the mercy of the exchanges.
>
> Just wondering if anyone has any comments or has heard that
before ?
>
> Also, I have be investigating InterQuote. I tired the InterQuote
demo and
> thought 19.95 a month was reasonable for delayed quotes as it is
like a
> spreadsheet and I can cut and paste the data into an access
program I wrote
> for quick analysis intraday. However, the options feed on the
delayed
> quotes are terrible as best and I would have to pay about 70 a
month for
> real time to get a better feed.
> The thing is that although real time would be nice, I really
don't need RT
> as I am not a day trader. I make a lot of short term trades, 1-4
days. I
> also pay 40 a month for DialData (end of day) feed into
Metastock.
>
> So that said here is my question. I would like to be able get
delayed
> quotes in a format which I can quickly cut and paste into a
spreadsheet or
> access for quick option analysis and also populate my metastock
files at
> the end of the day. Does anyone else do this and can they tell
me what
> services they us ? I would like to keep costs as low as
possible, but I
> need to be able to automate data entry so I don't have to be
transferring
> numbers manually and I need both intraday and end of day quotes.
>
>
> Thanks,
>
> Charlie
>
>
> ----------
> > From: sam <sam5@mindspring.com>
> > To: canslim@xmission.com
> > Subject: [CANSLIM] Real timequotes
> > Date: Thursday, October 09, 1997 2:40 PM
> >
> > Does anyone notice Datek's "real time" quotes aren't real time.
I have
> two
> > on-line brokers and did a test the other day and found datek's
"real time
> > quotes" to be slower than Yahoo's 15 min delayed quotes. They
were not
> > always later than Yahoo's but every once in a while they would
be. I also
> > compaired them to DLJ online (formerly PCFN) and found they had
slower
> > quotes than DLJ everytime. I am sending them within a fraction
of a
> second
> > apart and I am seeing a greater discrepancy than I would have
imagined.
> >
> > Has anyone else tried this test? What were your results?
> >
> >
> > Sam
> > sam5@mindspring.com
------------------------------
Date: Fri, 10 Oct 1997 21:14:13 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Real timequotes
An "in house" trade was probably done on a "principal" basis vice
agency, thus the 46 5/8 execution would include the sales
concession (comparable to commission).
A second possible scenario was that the order was considerably
larger than the minimum size presented, and was done at a single,
negotiated price away from the mkt rather than filling at a
multitude of pricing which ran the mkt up to fill the order, then
have the mkt drop right back down. Note that on OTC stocks, the new
order display rules have resulted in a huge nr of stocks, even very
liquid ones, only being good for 200 to 300 shares at the bid/ask.
I did a single trade of 1000 shares the other day on a stock that
had already traded 30K in the first half hour or so (and did
several hundred thou for the day) and it took five trades of 200
shares each, with three or four different market makers involved,
to sell 1000 shares. And these five separate transactions were done
at four different prices. This is becoming more commonplace.
Any statements or opinions are strictly my own and not that of my
employer. My comments should not be interpreted as a recommendation
of any kind. I am a licensed (inactive) broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet. Hopefully
my comments will better inform and educate all investors.
tom w
- ----------
> From: William E. Morrison <billmorr@erols.com>
> To: canslim@mail.xmission.com
> Subject: Re: [CANSLIM] Real timequotes
> Date: Friday, October 10, 1997 7:25 PM
>
> number of trades being placed outside the spread bothered me.
Example a
> stock with a Bid/Ask of 45.125 X 45.25 traded at 45.625. I
understand
> from my questions to them that this is where a brokers locks in
with a
> given market maker or trades in house.
>
------------------------------
Date: Fri, 10 Oct 1997 21:28:48 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] Fw: SPLH
Aha, discovered another unadvertised daily update on Daily Graphs
Online. I was exploring one group and noted that SPLH was listed in
the Datablock as having an RS of 94, which tied it for rank at #4,
but when I pulled up the chart for it, the chart showed the RS at
90. Here is Tech Support's answer as to why.
Any statements or opinions are strictly my own and not that of my
employer. My comments should not be interpreted as a recommendation
of any kind. I am a licensed (inactive) broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet. Hopefully
my comments will better inform and educate all investors.
tom w
- ----------
> From: Customer Service <custserv@ms1.dailygraphs.com>
> To: Tom Worleyby way of Techsupport
<Techsupport@ms1.dailygraphs.com> <stkguru@netside.net>
> Subject: Re: SPLH
> Date: Friday, October 10, 1997 3:00 PM
>
> The individual graphs are updated daily. The information in the
datablock
> is updated weekly.
>
> Thank you,
> Daily Graphs Online
>
------------------------------
Date: Fri, 10 Oct 1997 21:38:05 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Short Interest
Short interest, simply put, is the total nr of shares sold short on
a particular stock (that is, shares borrowed and sold in the belief
the stock price will decline and later be able to buy the same nr
of shares back and return them to the lender, pocketing the
difference between the price sold and the price bot back at, minus
commissions of course).
Short interest is added up and reported once a month, so can vary
widely in the meantime. NYSE short interest is calculated around
the 12th of the month and reported around the 20th, so already a
few days old when reported, and getting older every day thereafter.
AMEX and NASDAQ is likewise done about one week later.
A full report will give you both the actual nr of shares shorted as
well as the nr of days (at the current average daily volume) that
it would take to buy back that nr of shares. DG (both paper and
online) simply uses the latter nr (nr of days) plus gives you a
percentage change over the prior month. However, this nr must be
used with caution, since it involves the ADV, and if this changed
sharply, then it could distort the short interest nr of days
without an actual change in nr of shares shorted.
This "short" answer is already too long, so if I confused anyone,
just ask.
Any statements or opinions are strictly my own and not that of my
employer. My comments should not be interpreted as a recommendation
of any kind. I am a licensed (inactive) broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet. Hopefully
my comments will better inform and educate all investors.
tom w
- ----------
From: Dan Musicant <musicant@autobahn.org>
To: canslim@xmission.com
Subject: [CANSLIM] Short Interest
Date: Friday, October 10, 1997 8:56 AM
I have what I think you'd have to call a vague idea of what "short
interest" is. I've never bought or sold short, to my knowledge.
DG Online has short interest figures posted on covered stocks. I
have
no idea whatsoever how to interpret these figures. Can someone
instruct me how to interpret these figures:
- --------------------------------------------------------------------
- ---------
Short Interest:
- - - - -
19.1 DAYS + 26%
- - - - -
3.3 DAYS -68%
- - - - -
0.4 DAYS + 81%
- - - - -
0.5 DAYS -26%
- - - - -
0.5 DAYS + 20%
- - - - -
1.5 DAYS -7%
- - - - -
0.2 DAYS -53%
- --------------------------------------------------------------------
- ---------
Thanks.
Dan
- ----------
------------------------------
Date: Fri, 10 Oct 1997 21:54:44 -0400
From: "Charles F. Corbit III" <ccorbit@sprynet.com>
Subject: Re: [CANSLIM] Real timequotes
Tom,
I was hoping you were going to answer as your in the business. I was
suprised at the sales guy response, however, he said it was rare that they
were that delayed. I guess he and the exchanges are both covering their
butts.
BTW - I think I found an ideal set up for my needs. InterQuote has a RT
snapshot package, 36 per month (annual pay) that will give me continous
delayed quotes, but you can hit a refesh button up to 400 times a day to
get RT quotes. Their package is just like a spreadsheet and at the end of
the day I can just do a global copy and save it to a text file. I found a
$50 shareware package will automatically convert and update full MetaStock
Portfolios with one click !
I could even cut my costs further by just using delayed quotes for 15 per
month (annual pay), but there I thought RT snapshots would be nice.
Considering I am paying DialData 40 a month, I save 4 bucks and get limited
RT capability.
Thanks for the feedback,
Charlie
- ----------
> From: Tom Worley <stkguru@netside.net>
> To: canslim@mail.xmission.com
> Subject: Re: [CANSLIM] Real timequotes
> Date: Friday, October 10, 1997 9:05 PM
>
> Maybe I am just naive, but I have never heard of real time defined
> as within 15 minutes. My ILX service at work is true real time, and
> does cost my co a bundle, and even then option reporting (printing,
> as on the "tape") can be quite delayed. This is esp true when a
> stock or an exchange is in a "fast market" (lately the Pacific
> Exchange has had this happening a lot, and they are about the
> slowest at printing options executions). From my background, there
> is real time (which is as close to actual execution as possible, on
> NASDAQ I think BDs are required to "print" a trade within 45
> seconds of execution or be fined), and there is "delayed"
> reporting, usually defined as 15 minute delay (or less). If a BD is
> selling a "real time" reporting service, but defining it as within
> 15 minutes, I suspect they could be had for false advertising at a
> minimum, and even possibly fraud and forced to refund the fees they
> were charging over delayed reporting. Now, if they are using this
> definition to just cover their a__es, and in fact a high percentage
> of reports are only a minute or so late, then they are probably ok.
>
> But to give you an example, it is not uncommon for me to be able to
> give a broker an execution report, as well as see it "printed"
> within 60 seconds of physically entering the order. This includes
> whatever nanoseconds it took to speed thru the telephone wires and
> computer systems from Miami to NY, Chicago, San Francisco, etc. to
> reach the floor, plus be executed, plus speed thru other wires and
> systems back both to give me the execution report as well as to be
> printed. This is true both for options and for equities. On an OTC
> stock, which I execute by phone, I usually have the execution
> within one minute, and see it printed within 30 seconds thereafter.
>
> Any statements or opinions are strictly my own and not that of my
> employer. My comments should not be interpreted as a recommendation
> of any kind. I am a licensed (inactive) broker and an active
> investor. All investors should do their own research prior to any
> investment, especially one learned about on the Internet. Hopefully
> my comments will better inform and educate all investors.
>
> tom w
>
> ----------
> > From: Charles F. Corbit III <ccorbit@sprynet.com>
> > To: canslim@mail.xmission.com; canslim@xmission.com
> > Subject: Re: [CANSLIM] Real timequotes
> > Date: Friday, October 10, 1997 4:45 PM
> >
> > I just got off the phone with sales from pcquote in regard to
> their
> > services during the discussion the salesperson informed me that
> the
> > exchanges define real time quotes as 15 minutes or less !!! So
> he said
> > although he believe they have a superior product relative to
> their
> > competitor that they are at the mercy of the exchanges.
> >
> > Just wondering if anyone has any comments or has heard that
> before ?
> >
> > Also, I have be investigating InterQuote. I tired the InterQuote
> demo and
> > thought 19.95 a month was reasonable for delayed quotes as it is
> like a
> > spreadsheet and I can cut and paste the data into an access
> program I wrote
> > for quick analysis intraday. However, the options feed on the
> delayed
> > quotes are terrible as best and I would have to pay about 70 a
> month for
> > real time to get a better feed.
> > The thing is that although real time would be nice, I really
> don't need RT
> > as I am not a day trader. I make a lot of short term trades, 1-4
> days. I
> > also pay 40 a month for DialData (end of day) feed into
> Metastock.
> >
> > So that said here is my question. I would like to be able get
> delayed
> > quotes in a format which I can quickly cut and paste into a
> spreadsheet or
> > access for quick option analysis and also populate my metastock
> files at
> > the end of the day. Does anyone else do this and can they tell
> me what
> > services they us ? I would like to keep costs as low as
> possible, but I
> > need to be able to automate data entry so I don't have to be
> transferring
> > numbers manually and I need both intraday and end of day quotes.
> >
> >
> > Thanks,
> >
> > Charlie
> >
> >
> > ----------
> > > From: sam <sam5@mindspring.com>
> > > To: canslim@xmission.com
> > > Subject: [CANSLIM] Real timequotes
> > > Date: Thursday, October 09, 1997 2:40 PM
> > >
> > > Does anyone notice Datek's "real time" quotes aren't real time.
> I have
> > two
> > > on-line brokers and did a test the other day and found datek's
> "real time
> > > quotes" to be slower than Yahoo's 15 min delayed quotes. They
> were not
> > > always later than Yahoo's but every once in a while they would
> be. I also
> > > compaired them to DLJ online (formerly PCFN) and found they had
> slower
> > > quotes than DLJ everytime. I am sending them within a fraction
> of a
> > second
> > > apart and I am seeing a greater discrepancy than I would have
> imagined.
> > >
> > > Has anyone else tried this test? What were your results?
> > >
> > >
> > > Sam
> > > sam5@mindspring.com
------------------------------
Date: Fri, 10 Oct 1997 22:00:13 -0400
From: Bill <wgs@earthlink.net>
Subject: Re: [CANSLIM] NYSE highs on Thursday - TTN
>noted anything going on in that group? Also noted one closed end
>fund that invests in small caps, NAV had been dropping until latest
>qtr when it jumped 16%, will be interesting to see latest qtr
>results.
>
>tom w
Most closed end mutuals sell at a discount to NAV. A sudden jump in price
toward the NAV could mean that the closed end fund is making a transition
to an open ended fund. I wonder if there is a source on the web that lists
all of the closed end funds planning open endedness?
Bill-->>
------------------------------
Date: Fri, 10 Oct 1997 22:12:58 -0700
From: Hemant Rotithor <rotithor@zko.dec.com>
Subject: Re: Fw: [CANSLIM] Re: Oils
Gess Shankar wrote:
> How about NEGX and NORT (was DSIC) ? I am in both and both have
> posted gains in a short period of time. As under $10 issues, it may
> not be of much interest to true Canslimmers. But I got in DSIC at
> 2 1/2 (gave me buy signal for day trade), the very next day it
> changed symbol to NORT, declared good earnings and went up to 4 15/16
> on 3x ADV, causing me to take profit by selling part. It pulled back
> to 4 and seems to me that there is still some steam short term. Any
> long term prognostications?
>
> Gess
NORT has a good chart, has earnings, and showed good strength today.
I bought some for my speculative account, has potential to go up next
week since the momentum is still there as witnessed by the volume.
- --
Disclaimer: Opinions expressed in this document are those of the author.
Digital Equipment Corp., 110 Spit Brook Rd, ZKO2-3/N30, Nashua, NH 03062
------------------------------
Date: Fri, 10 Oct 1997 22:04:08 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Real timequotes
A salesman saying it's OK to be 15 minutes late but "rare that they
were that delayed" is truly covering his but while focused on the
commission he will make from a sale of service. And personally, I
would ask any salesperson who told me the "exchange" defined real
time as within 15 minutes to send me proof of that statement in
writing. I, personally, would be interested in seeing what he is
basing that on, and if he has something to substantiate it, would
then pass it on to the SEC and NASD to show the regulators how what
amounts to delayed reporting is being marketed as real time.
There are exceptions made to normal reporting deadlines, usually
when a stock or option is in a fast market. But I think the limit
is 10 minutes max, and is on a case by case, stock by stock basis
and for a very limited time period (a matter of a half hour or so,
till the fast mkt condition adjusts). If you have the ability to
both watch stock quotes on an online, allegedly real time system,
while simultaneously comparing quotes and trades with a true real
time system, and find that most quotes and trades on the allegedly
real time system are consistently 10 to 15 minutes late, then it is
not real time. Period. You're being ripped off and may as well use
a free online honest delayed system.
Any statements or opinions are strictly my own and not that of my
employer. My comments should not be interpreted as a recommendation
of any kind. I am a licensed (inactive) broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet. Hopefully
my comments will better inform and educate all investors.
tom w
- ----------
> From: Charles F. Corbit III <ccorbit@sprynet.com>
> To: canslim@mail.xmission.com
> Cc: Tom Wallace <bwallace@ptd.net>
> Subject: Re: [CANSLIM] Real timequotes
> Date: Friday, October 10, 1997 9:54 PM
>
> Tom,
>
> I was hoping you were going to answer as your in the business. I
was
> suprised at the sales guy response, however, he said it was rare
that they
> were that delayed. I guess he and the exchanges are both
covering their
> butts.
------------------------------
Date: Fri, 10 Oct 1997 23:18:38 -0400 (EDT)
From: Dbphoenix@aol.com
Subject: Re: [CANSLIM] Price targets
In a message dated 97-10-10 21:09:55 EDT, you write:
<< Dg wrote:
>UTI, for example, is well beyond its '98 price target, one
of the reasons I sold at 40 (I bought at 11, so I can't complain).
Several
others are approaching near-term full value. I calculate CDG, for
example,
at 80-82.
How do we calculate a price target? I have FGII which has been running
up very nicely and is splitting tomorrow. Will this help sustain the
momentum?
Gail >>
In the case of the oils, you can multiply a given year's earnings estimate by
20. Multiplying the '98 estimate for CDG by 20 gives you 80. If you're
enthusiastically optimistic, you can multiply it by 30. If you're loony, you
can multiply it by a higher factor :) I don't plan to sell any of these
until they roll over, but even an intermediate-term target of 120 for CDG
seems to me to be a bit lala. But that's what I thought when MU shot up to
95 a couple of years ago (of course, you remember what happened afterward).
- -----Db
------------------------------
Date: Fri, 10 Oct 1997 23:20:49 -0400 (EDT)
From: Dbphoenix@aol.com
Subject: Re: [CANSLIM] Re: Oils
In a message dated 97-10-10 21:12:34 EDT, you write:
<< Just today, I noticed several stories (including one on CNBC which
I caught part of) warning that the stellar performance of the oil
and oil related groups won't continue. It seems everyone is
starting to recognize that there is some over-valuation, and is
stressing to not just pick any stock because it is oil (or
related), but rather to do the homework. >>
You're dead right, Tom. I've been following the O&G board at the MF site on
AOL for months. At the beginning it was almost all professional. Over the
last few weeks, the posts have run toward the
what-should-I-buy-and-how-long-do-I-have-to-wait-for-my-money sort of thing.
A sign of an intermediate top? :)
- ----Db
------------------------------
Date: Sat, 11 Oct 1997 01:13:44 -0400
From: "William E. Morrison" <billmorr@erols.com>
Subject: Re: [CANSLIM] Real timequotes
Tom, I think two of the major real time providers just got fined or
settled by refunding payments for not providing timely quotes this past
summer. I thought I had clipped the article but can't find it at the
moment. I think what we are really talking about is real time
resellers, ETrade, Datek, DTN, DBC etc., and their ability to retransmit
on heavy days. As I remember that was the problem with the two that had
problems this summer.
Bill Morrison
>Tom Worley wrote:
>
> Maybe I am just naive, but I have never heard of
------------------------------
End of canslim Digest V1 #313
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