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I once subscribed to Mike Swanson's website and while my experience with his web forum was less than profitable, his teachings about how to trade the markets were/are outstanding.
I've only just ordered it myself but I have a feeling I already know what the gist of it is going to be and I cannot overstate how valuable it will be to any of you who are wanting to really learn how this game is played.
Click the link below, read it - all of it - and follow the directions. I don't expect to get anything out of it but you never know and it certainly wouldn't hurt and I'd appreciate it if you mentioned in any emails that this post was the reason you ordered the book.http://www.wallstreetwindow.com/content/node/17481
Clete, THANK YOU! Your are the best. I'm looking forward to read it. BTW I mentioned your post in the email to Mike Swanson ;-)
For $15 going long on this one (unless you're willing to lend me your copy Clete, then I'll go short - just kidding). I'll also be sure to mention your name...
i have not heard of him before...since Clete is saying i'm going buy it :-) i haven't finshed Sten's book yet though i'm enjoying it...hopefully this one is quick read :-)
yes, i'll mention Clete name as well.
specially i liked investor pyscology section in his book. He also mentioned Stan's book like Clete does :-) but anyways..Clete Thanks for refering his book.
I used to subscribe to Swanson's service and learned a ton of stuff about how to trade the markets from both the books he recommended and the material he produced himself. That's why I knew his book would be worth reading.
I probably would still be a member but for two factors.
First of all, one of his members is an absolute jackass on the forums and Mike does nothing about it whatsoever and second, and far more importantly, Mike has a tendency to make trades that have nothing to do with the techniques and principles he teaches, or at least he did so for the year that I was a member. And since I was still quite new to trading (still am if you ask me) it was very confusing and frustrating to be paying a guy for trading advice and doing nothing but losing money on trades that made no sense to me and so I left. I feel like I could better discern the trades he picks and tell which would be good for me and which wouldn't and so I might join again down the road but he's changed his pricing and so I don't even know if I could afford it now. Besides, judging by the monthly newsletter that he just put out today and that those of us who bought his book get for free, there shouldn't be much of a need. The guy gives away better stuff than most people charge a small fortune for.
i liked his idea of sector analysis first then find the stock with chart pattern which are end of stage one. i think i have read this strategy from Alex in previous post s.
I use http://finviz.com/
to find tickers with multiple bottoms/stageone/PEG ratio's. but this site dont give sector-to-sector/index//international market analysis what Swanson mentioned available in TC2000. Not sure if its worth to buy TC2000.
anyone used TC2000 ?
To follow onto Dave's question:
In Stan's book, he suggests that you first determine the direction of the market, then look for sectors that are in an uptrend, and finally look for stocks in the sector that are in an uptrend. In other words, you don't invest in a stock unless a) the market is in an uptrend, b) the sector is in an uptrend, and c) the stock is in an uptrend.
My question is - is anyone here doing this? If so, how do you find which sectors are going from a stage1 consolidated base to a stage2 ascent? I've looked at Yahoo Finance under Industries, but it seems onerous to go through all the industries and chart them. I noticed that Mike Swanson does this using StockCharts.com, but he seems to have a team that sifts through the sector charts. I was wondering if anyone does this on their own?
TC2000 breaks the market into gobs of sectors and will instantly sort them by relative strength (or virtually any other parameter you want).
It will also sort all of the stocks in a particular sector by their strength relative to the sector itself.
That's 98% of the work right there. That will crunch the number of sectors you have to look at a chart for down to only a small hand full and then crunch all the stocks you have to look at a chart of down to only a few dozen or so at most.
I don't know Mike personally and so I could be wrong but just judging by his videos and the other material he puts out, I'd be surprised to find out that he has anything resembling a staff of people to sort through the stock market for him. Its seems to me that its just him and one other guy. There really doesn't seem like there would be any need for a staff.
P.S. I have not, as of yet, gotten a subscription to the TC2000 software although I intend to do so very soon, probably in the next couple of weeks. In the mean time, I intend to download it and try it out during the trial period.
I have just released a new version of site with the new service - S2O Pro. There are certain elements of sector and industry analysis along with online stock screener. I think you may be interested to try it. Any feedback would be greatly appreciated.
Whew! That was quick! Did you pull an all-nighter to get that done?
Looks like you have used the 150/200 MA to determine if the sector is in a Bull or Bear.
Suggestion: Do you have the historical data for the sectors to be able to graph them? I'd like to see charts to see if the sectors are moving from a stage1 base to a stage2 ascent and the 30-week (or 150-day) MA.
Gordon, thank you! Actually I was working on it for quite a while and am glad that I could finally release it.
I have historical chart for sector. Unfortunately, I could find this data for US sectors only and started to collect it only a few weeks ago, so going forward it will get better and better. The industry chart is available in the Stock Screener - just click on any stock and you will see a context menu with the corresponding industry chart in it. Here is a screenshot of what you should expect: http://www.stock2own.com/About_Products.aspx#s2opro
In order to determine bull or bear condition I compare stock price with it's MA150 and MA200 (exactly the same way I'm determining it in "Extra Analysis/Market Price Dynamics" section in the Stock Analyzer). For a single stock the market considered bull if MA150 (150 days Moving Average) is above MA200 line and current market price is above MA150.
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