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Stock Picks and Trading · Picks and Pans Since Jan 2020
msg #151397
3/23/2020 6:05:45 PM

Correction above, 9YL and 9YH should say 7YL and 7YH. It's just a labeling error, the actual numbers are correct.

Here is your second question about average volume in the last 5 years. I think I got the maths correct, but if not someone point it out!

set{vol1,average volume(252)}
set{vol2,vol1 1 year ago}
set{vol3,vol1 2 years ago}
set{vol4,vol1 3 years ago}
set{vol5,vol1 4 years ago}

set{x1,vol1 + vol2}
set{x2,x1 + vol3}
set{x3,x2 + vol4}
set{x4,x3 + vol5}
set{dvol5yr, x4 / 5}
set{mvol5yr,dvol5yr * 21}

add column dvol5yr {Daily average volume last 5 years}
add column mvol5yr {Monthly average volume last 5 years}

Stock Picks and Trading · Picks and Pans Since Jan 2020
msg #151393
3/23/2020 3:41:02 PM

sandjco, the post below is probably what you are remembering.

To your question, 7-year high and low:

chart-time is 3 years

set{x1,low 3-year low}
set{x2,x1 3 years ago}
set{x3,x2 1 year ago}

add column 9YL
draw price line at 9YL

set{y1,high 3-year high}
set{y2,y1 3 years ago}
set{y3,y2 1 year ago}

add column 9YH
draw price line at 9YH


Filter Exchange · Need a filter that will find intraday linear growth with low volatility
msg #151335
3/20/2020 10:13:08 PM

It's possible in ThinkorSwim. I'm sure other brokers have their own tools that can do it too though I'm not familiar with them.

Filter Exchange · Need a filter that will find intraday linear growth with low volatility
msg #151326
3/20/2020 12:59:27 PM

StockFetcher does not have intraday data. The shortest time frame to run filters is daily.

Stock Picks and Trading · Picks and Pans Since Jan 2020
msg #151278
3/18/2020 6:00:54 PM

Spot on, sandjco. You understand trading. Notice that 8 of your 10 rules were emotion based?

I like your second rule. Feeling "bad" for shorting a stock is breaking that cardinal rule: "Leave emotion out of trading." Usually we think of emotional trading as fear and greed, but it goes beyond that.

For example, has anyone ever traded LMT or RTN and made money? How do you feel knowing you made money off a company who's sole purpose of existing is to kill human beings or at the very least project the threat of killing human beings? The correct answer should be, "*shrug* I was trading the chart, didn't care what letters were attached to it"

I digress, I will leave you with another angle on shorting. This is a small excerpt from a much longer explanation from the book "Short Selling Strategies, Risks, and Rewards" by Frank J. Fabozzi:

Short selling is un-American. It is done by rogues, thieves, and especially pessimists, who are, of course, the worst of the lot. It is a terrible, terrible thing and must be stopped in our lifetime. We should halt it, restrict it, or at the very least revile those who make it their vocation.

The above sentiments are sadly not imaginary or rare. Rather, they genuinely reflect much of the investing public’s view of short selling. In fact, attacks have included proposals to make short selling harder (the existing “uptick rule” already makes it hard), or to make it impossible by banning it outright (presumably along with pessimism itself, and perhaps the infield fly rule). These criticisms and draconian proposals all increase in volume and seriousness when the stock market goes through a tough time. At such times many claim short sellers are the cause of the market’s decline. Finally, at the low point for stock prices, many members of Congress invariably reexamine whether shorting should be allowed, or more simply, consider just legislating that the Dow go up 50 points a day.

...opponents of short selling are not merely wrong. They are incredibly wrong, both factually and morally. Short sellers are among the heroes of capitalism and we owe them our thanks not our opprobrium. The opponents of short selling are either exceptionally economically challenged, or run to a natural tendency to ban anything they do not like. There’s a word for the political system favored by people like that and it is not democracy (but does rhyme with Motalitarianism).

Extensive theory may be helpful, but it is not necessary, to understand why the ability to implement a pessimistic view (e.g., to sell short) improves market efficiency and thus makes the market safer for all participants. Without short selling, prices are in a sense uncapped. As valuations get excessive the only way to express a negative view is to go on a buying strike. It is analogous to a voter who disliked the incumbent, but found the only option was to stay home, as voting for the challenger was prohibited (again, we have seen systems like that in the world, but we are just not supposed to have one here). It seems quite intuitive that if we restrict the ability to express pessimistic views, prices will on net be biased towards the optimistic outlook. Of course the goal of efficient
financial markets is to have prices reflect our collective best guess, somewhere between optimistic and pessimistic. It follows that overpriced stocks and stock markets, including incredibly destructive bubbles, are best fought by allowing all opinions to affect prices. For instance, the recent market/tech bubble would in all likelihood have been less egregious with fewer hurdles to short selling. To put it simply, widows and orphans are on net protected, not damaged by short sellers.

...While individual short sellers might differ, in aggregate, they are not shorting distressed companies to drive them to doom with misleading Internet chat. Rather, in aggregate, short sellers are the Praetorian Guard of the financial markets. These activities logically, and in fact, lead to a more stable market where bubbles (both in aggregate and in relative value) are fought by the short sellers (though as 1999–2000 shows, not necessarily fought enough), and not, like done by much of the rest of the investing world, simply ridden until the eventual ugly denouement.

Filter Exchange · Need help, should be simple
msg #151277
3/18/2020 5:27:24 PM

Here you go. For future reference, I do suggest you post whatever code you have. Even if it's not working, it's often helpful to learn how to change your own code to make it work.

set{52wh,high 52-week high}
set{var1,52wh - cls}
set{var2,cls / 52wh}
set{var3,var2 - 1}
set{var4,var3 * 100}

add column var1 {52-week high - close}
add column var4 {Percentage difference}

add column high 52-week high
draw price line at 52wh

General Discussion · * GRIPE *
msg #151251
3/16/2020 5:40:06 PM

Metals are going down because everyone is getting margin called. They have to liquidate their gold, silver, et. al. assets to cover their margin calls. I expect metals to recover once the stock sell-off dies off, but who the heck knows in this climate.

“In the near-term, gold could see further downside because of the need to meet margin calls across other markets and if investors are preferring to move to cash and reduce risk exposure across the board.”

General Discussion · Best analysis of COVID-19 spread.
msg #151231
3/15/2020 1:57:40 PM

TL;DR - It's too late. Buy puts.

General Discussion · Best analysis of COVID-19 spread.
msg #151230
3/15/2020 1:51:47 PM

TL;DR - It's too late. Buy Puts.

Edit: Made link clickable.

Filter Exchange · Attn: FILTER GURUS! WT*!!!
msg #151216
3/13/2020 7:09:33 PM

/* Looking for stocks that dropped the LEAST, but no more than 10% from the close 30 days ago */
not etf
close > 490
volume > 500000

set{c30,close 30 days ago}
set{10p,c30 * .90}
close > 10p

set{Pchange1,close / c30}
set{Pchange2,Pchange1 - 1}
set{Pchange,Pchange2 * 100}

add column c30 {Close 30 days ago}
add column 10p {10% below close 30 days ago}
add column Pchange {Percent Change}

sort by column 7 descending

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