Re: [CANSLIM] Which software is best?

From: esetser <esetser@covad.net>
Subject: Re: [CANSLIM] Which software is best?
Date: Sat, 22 Dec 2001 09:00:53 -0800

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At this point I have IBD and DGO.  In the beginning, IBD was a no-brainer
since I was learning CANSLIM and it was about the only source for the data
I wanted (as far as I knew).  We do get IBD in our library at work, but
having it at home, especially on the weekends, was key to getting my full
value.

About a year ago, I researched DGO and even got Tom to send me some info to
help out my evaluation.  I decided that I could use DGO to automate my
initial screening process (in excel), and this would be a real time-saver.
The cost seemed significant, but I am investing a significant sum using
CANSLIM.  Given that perspective, and the value I place on my personal
time, I decided to give DGO a whirl.  If I make one trade that is more
successful, or losses less by even a small percentage, DGO will have paid
for itself.  It HAS been a great time-saver, and I believe it helps me make
better decisions as far as my initial screening, and in my final selection
of stocks as well.  Unfortunately, I haven't done very well in the last
year, but I feel that is market based rather than DGO-based.

Since I subscribed to DGO, I haven't used investors.com very much.  I have
also found that I read less and less of IBD as time has gone on.  A normal
day has me perusing the front page, scanning the investor's corner, and
reading the big picture.  On occasion, I'll read through the NYSE and NAS
summaries and stocks in the news.  And I do use the paper to do a quick
check of the industry group rank (even though DGO has this info, just habit
I guess).  I guess I could read through the paper, and skip this group, but
it's much easier to get specific feedback in real time on a question here,
and the conversations are more pointed to specific stocks as they happen,
as opposed to IBD's 20-20 hindsight (and yes it seems to me that every
stock that fails has some flaw that made the chart faulty if you look
closely, while every stock that succeeds doesn't exhibit those same flaws
if you don't look to hard!!)

As I've used the paper less, I've considered dropping the subscription when
it comes due, and just use a free quick look at work instead.  I'm not
fully decided on this, and I guess I'll wait until it comes up to make a
final decision.  I find DGO as an indispinsable (sp?) tool that I will
continue to use in the near term, and am in the process of renewing right
now.  


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