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Thursday, August 11, 2011

MRGE

I have been contemplating a method for scanning for rising price relative lines, but the only way I could think of doing it would be collecting so much data to make it much too time consuming, so i have to live with the fact that I am going to miss some of the best ones, like MRGE here, which had a price relative line break out several days before price, a good indication that when it didn;t have a weak market dragging alng, it would take off. The chart, in a vacuum, looks mediocre, but in context, this is one hell of a strong stock. 

Posted by David at 1:37 PM

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5 comments:

Michael said...

David,

Maybe only scan on the relative strength list since there's only 101, as of today, and MRGE is on there. A database can be setup to track the price relative of the relative strength stocks. You can then do a calculation and sort them out based on whether it has increased four days in a row or a specified number of days. This is just my thoughts. Let me know what you think.

August 11, 2011 2:16 PM
David said...

Hi Michael,

The main problem is I have to get historical price data from Yahoo finance for each stock i scan, and put it into a spreadsheet (that is what i do with the earnings growth charts I post on Sundays. I have a seperate spreadsheet for each stock, so if I do, say, 10 stocks, that is a couple of hours of work). There are ways to get a spreadsheet to automatically download the data, which will save a lot of time,but I haven't been able to get any to work. It can be done, it's just a matter of how much time I can spend doing it.

August 11, 2011 3:22 PM
Michael said...

HiDavid,

I can get the spreadsheet to download yahoo stock price(needs a little coding). What are the steps you want it to do and I can help with the data pulling? Something like this?

1. Enter stock symbol into spreadsheet
2. Download data from yahoo stocks for 6 months.
3. Calculations??

August 12, 2011 7:01 AM
David said...

Hi Michael,

Last night I found an extension for the Open Office spreadsheet that will download quotes from yahoo finance, and it does work, so I have half the problem solved. Now it is a matter of setting up a spreadsheet that will do the calculations automatically after entering in a set of ticker symbols. I know how to do that, so that is not the problem, but it will take a lot of time to set it up. The good news is
that once it is set up, it will only take a few minutes per day to scan. I think if I calculate price relative for 6 months, 3 months, 1 month, and one week, and the differences, I should come up with a system that works pretty good. I will do some trial runs with it either today or this weekend.

August 12, 2011 8:06 AM
Michael said...

That is great David! Let me know if you need any help.

August 12, 2011 10:02 AM

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