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Investing/Strategies / tc2000
|Subject: Using the MG groups||Date: 9/9/2001 5:36 PM|
|Author: inv44||Number: 55 of 80|
Here's a quick way to use the Media General stock groups in TC2000 for stock selection. I like to look at major market sectors first, and when I find one that looks promising, then I look at the stocks which belong to that sector. This could mean looking at a lot of stock charts, but using my initial screening criteria I can reduce the number of charts that need analyzing. Then when a stock chart looks good, I want to get confirmation that its group is also in sync with the stock and the sector. Then I can go on to look at the stock in more detail.
In TC2000, there are 200+ Media General (MG) groupings. Some of the MG groups are actually mega-groups, relating to major sectors. Others are sub-groups. There are 31 mega-groups, corresponding to the following industry sectors: Aerospace/Defense, Automotive, Banking, Chemicals, Computer Hardware, Computer Software & Services, Conglomerates, Consumer Durables, Consumer Non-Durables, Diversified Services, Drugs, Electronics, Energy, Financial Services, Food & Beverage, Health Services, Insurance, Internet, Leisure, Manufacturing, Materials & Construction, Media, Metals & Mining, Real Estate, Retail, Specialty Retail, Telecommunications, Tobacco, Transportation, Utilities, Wholesale. These groups have a “Symbol” ending with zero, such as MG330, and a “Company Name” starting and ending with a dash, such as “-Automotive-“. To use the MG groups to scan for sectors and stocks, you might try the following:
1. Set up an “Easyscan” with your screening criteria. For example, I use the following: price >= 10, average volume >= 100K shares/day, EPS growth (latest quarter) >= 25%. Your criteria will probably be different. Then create and save 31 scans, one based on each of the MG mega-groups. (Or less, if you want to eliminate some of the groups from consideration). It's convenient to name these scans something like “Group Scan – xxxxx” where “xxxxx” is the name of the mega-group.
2. Select “All Media General Industry Averages” as your watchlist. Sort this watchlist on Company Name and this will bring all of the mega-groups up to the top. Then it's a simple matter to flip through the charts using the spacebar.
3. When the chart of a mega-group looks promising, you can look at the stocks in that group which meet your screening criteria by selecting the Easyscan for that group as your watchlist. Then, when looking at the charts of the stocks in this Easyscan, if one looks promising, you can look at the stock's sub-group chart by right-clicking on the group name in the chart window and then selecting “Jump to Sub-industry”. This will bring up the chart of the sub-group. Pressing the space bar takes you to the next stock in the mega-group.
4. When you're ready to go back to the original watchlist of mega-groups, click on the button in the top toolbar which has the caption “Previous Watchlist”. (It's the third buttom from the left). This will bring up the list of mega-groups and put you where you were before going to the group's Easyscan.
This may sound a little complicated at first, but it's really quite easy, and it gives us a quick way to start with industry sectors, then move on to stocks in those sectors which meet our criteria, and then to confirm the action in a stock's group chart.
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