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I had good news and bad news this week. The first bad news was that my UltraShort Financials and my UltraShort Real Estate sunk to -15.6% and -24.9% respectively.
The good news also was that those UltraShorts declined. With circumstances such that these hedges against recession declined, most of my other picks rose, and rose faster than the market in general. Therefore I've gone to an overall SL ranking of about 450 to one of about 250. That may not last. Unfortunately most of my stock picks have not done well on the bear-market days.
I'm not selling those UltraShorts because I believe the overall downward trend in our economy and the markets will continue well into 2008.
I am, however, selling my small stake in MLAB. Although I still think the company looks interesting over the long haul, microcap stock prices suffer first when people get nervous.
The absolutely worst news of the week came when I logged into Reuters to use their stock screener. The free screener I have relied on for so long is gone from their menu! No other free screener began to compare with it for the ability to set your own variables based on income statement and balance sheet items as well as financial ratios and stock price figures. Although other financial Websites have screeners, customization is limited and I really don't care to screen on preset variables or on the collective opinion of analysts. The objective is to make my own mistakes. Are there other people who are as upset with Reuters as I am? They were tops on Fortune's list of screeners and surely many others were also dismayed to find their well-thought-out screens had disappeared into thin air.
I'll undoubtedly be writing more, next week, on how best to cobble together results from a variety of limited-ability screeners.
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Comments (2)
I used the Reuters screener,I was a paid subscriber and they dropped it. It did some things that other screeners don't do, I liked the up beta and down beta variables they had, among other features.
Posted by Tom Armistead | October 7, 2007 12:55 PM
In fact, the Reuters screeners helped me a lot to designing my funds at Marketocracy, now I screen, in part, my funds, looking for stocks to include in the real accounts.
Posted by Armin Stuk | October 8, 2007 9:35 AM