Update: New Computer Investing Products
by CI Staff
Checklist Investor is a stock analysis program that allows you to evaluate your investment ideas systematically. Predefined checklists are provided, but users can also personalize their own checklists—adding Web news, conference call notes and a record of transactions. You can use up to five checklists per entry.
Seven predefined checklists follow the methodology of highly successful investors: The Intelligent Investor checklist uses the strategies of Benjamin Graham and Warren Buffett; One Up on Wall Street employs the strategy of Peter Lynch; and CANSLIM follows William O’Neil’s strategy. Other checklists include Basic Numbers and Ratios, Value Stock Focus, Mutual Fund Investing, and Buffett Quotes. Additional checklists can be imported for free from the Checklist Investor’s Web site and shared among other Checklist Investor users.
The program allows users to organize, sort and summarize data and view it for a single stock, transaction type, or by completed checklists. Web pages can be saved to a local hard disk through the program’s included Web browser. Investors can label stocks with six transaction types, such as buy, sell or hold. Checklist Investor also enables users create their own labels, such as “high-risk buy.”
DayTradingCoach.com is a Web site designed for day traders or those interested in becoming involved in short-term investing. The Web site’s creator, Jens Clever, was a day trader in the 1990s.
The site offers free educational materials, including articles written by Clever and other day traders. Users are encouraged to share their opinions and ideas with others by writing articles for the Web site as well. A sample of article topics include: “How to Trade the News,” “The Mastery of Self,” and “9 Deadly Trading Mistakes.”
Users can take a free course on how to use the technical analysis technique of candlestick charting to gauge the sentiment of other traders. For those interested in learning more about the role chart patterns play in technical analysis of the market, a free tutorial on this topic is offered as well.
The site offers free real-time stock quotes, charts and trading tips, as well as an education center for basic day trading guidelines sponsored by the Online Trading Academy (www.tradingacademy.com). Links to other day trading sites and a link to Clever’s ebook, “MasterTrader,” are also provided.
For day traders interested in a more in-depth, one-on-one education, Clever offers four options: in-office coaching, full-time Internet coaching, at-your-home coaching, and part-time Internet or phone consultations.
In-office coaching by Clever is tailored to the investor’s individual needs and goals and provides investing strategies specific to improving individual performance. The cost is $899 per day or $3,500 per week.
Full-time Internet coaching offers the same information as in-office coaching, but all interactions take place on-line. In addition, users have access to Clever’s desktop in order to watch, in real-time, what he is doing. Full-time Internet coaching costs $899 per day.
At-your-home coaching is for those who want to meet with Clever in person, but are unable to make the trip. Prices vary for this service.
Part-time Internet or phone consultations are for those who need a few specific questions answered. Most phone consultations can be done over the Internet to cut costs. Clever also encourages follow-up questions to be submitted by E-mail or phone message. Part-time consultations cost $195 per hour.
Active Trader, a magazine devoted to short-term trading strategies, recently introduced Currency Trader, an on-line publication. This monthly magazine revolves around foreign-exchange trading and offers investment strategies, analysis of the global markets, and interviews with top traders from around the world. The interactive issues are sent to subscribers via E-mail. Sample articles are available. The first 5,000 people to join will receive free subscriptions.
Members of TraderBrain, an on-line trading journal devoted to stocks, can view detailed trading diaries as well as utilize the TraderBrain network. This network allows users to discuss and share stock trading advice and information on a community forum message board. Memberships range from $8.75 to $11.75 per month depending on length of membership. New members receive the first month’s membership for $7.25.
Bonds on Fidelity.com
Fidelity has announced that it will add access to the National Association of Securities Dealers (NASD) Trace system for bonds to its Web site. This system provides time-delayed data on last-sale prices of bonds. Currently, the program covers 4,600 corporate issues, but expansion to 23,000 is expected. In addition, Fidelity.com will also give access to day-old prices for municipal bonds via the Municipal Securities Rulemaking Board (MSRB) system. These services have been free for investors at each regulator’s Web site.
Prosticks.com members now have access to a new stock analyzer that combines ProSticks’ technical analysis with traditional technical analysis. With this tool, stock strength is rated on a scale from 0 to 100, neutral trading ranges are supplied to track current market trends, and multiple charts and graphs are available for easy reference. Basic membership to Prosticks.com is free. A professional membership costs $99.50 per year; a free seven-day trial is currently available.
Morningstar is taking steps to improve its systems in response to the Securities and Exchange Commission’s accusation that they published false information regarding the Rock Canyon Top Flight stock fund. Plans include enhancing data-analyst training, as well as strengthening lines of communication and data centralization efforts. The SEC’s investigation into whether Morningstar does enough to ensure the accuracy of data postings is ongoing.
Prophet Historical Data
Prophet.net now provides a comprehensive collection of historical market data. Equities data dates as far back as 1968 and futures data goes back to 1959. Records identical to those available through Prophet.net’s charting systems are also available for use with third-party applications such as Nirvana, Omega, Equis, and Microsoft Excel.