Seminars taught by stochastics originator
FYI -- Investment Educators' week-long training program gives beginners and newer traders classroom-style instruction and hands-on, real-time experience in the classical approach to technical trading.
Under the tutelage of George C. Lane, originator of stochastics, participants study Dow theory, Tubbs, chart patterns and logic behind market action. They explore computer-generated signals and the nuances of stochastics. They develop criteria for entering trades, master measuring tools for anticipating price objectives, such as Fibonacci and Elliott wave, and plan strategies for protecting their risk capital and for taking profits. Participants then go to the computers for two days and apply what they've learned to live stock and futures data coming in from the exchanges.
Classes are limited to six participants.
Investment Educators 719 S. Fourth St. Watseka, IL 60970 Phone 800 962-9836, 815 432-4334 Fax 815 432-2271 E-mail stochastics@colint.com
NEW -- Essex Trading Company has released version 3.0 of its Option Pro On-Line software. The software, first released in 1992, was codeveloped by David Wesolowicz, president of Essex Trading and a floor trader at the Chicago Board Options Exchange for nine years, and Jay Kaeppel, author of The Pro-Vest Option Trading Method and The Four Biggest Mistakes in Option Trading.
Version 3.0 offers new trading strategies and new volatility skew filters for identifying potential trades. The trading logic used in the software's OEX trading system has been improved to increase profitability while reducing risk. Other enhancements include new graph indicators, position management tools, and volatility and volume analysis.
Essex Trading Company, Ltd. 107 North Hale St., Suite 206 Wheaton, IL 60187 phone 630 682-5780
NEW -- Lind-Waldock & Co., a discount futures brokerage firm, has launched a new online service called FutureScope. FutureScope is a Web-based analyzer where futures traders can test trading ideas and look for new ones based on a database of more than 100,000 contracts for historical and seasonal analysis.
Traders select a market to trade, select entry and exit dates, a holding period, stop level and a profit target. FutureScope reports what the most successful trade has been for the past five, 10 or 20 years. Parameters may then be changed to progressively finetune the performance of the trade.
Users can try FutureScope free for seven days at Lind-Waldock's Web site. After that, a monthly fee is charged, with no additional data costs. No software or spreadsheets are required. The data resides in a secure area of Lind-Waldock's server and is updated quarterly.
Lind-Waldock https://www.lind-waldock.com
NEW -- Hans Hannula, CTA and registered investment advisor, has launched Chaos Clinic on the Internet at https://www.cashinonchaos.com/hans. The clinic is a free, live demonstration of his chaos trading methodology in the S&P 500 futures market.
The Web site displays Hannula's custom trading screen in near real time. Screen annotations illustrate chaos principles for traders. Hannula's MoonTides are calculated onscreen as they influence the S&P 500. The site is updated each week with articles on chaos trading and new examples of chaos theories at work in the markets.
The clinic is conducted on Fridays during normal trading hours, 9:30-2:30 Eastern time.
Hans Hannula phone 303 452-5566 https://www.cashinonchaos.com/hans
NEW -- John Bollinger's Acme Analytics has launched EquityTrading investor service on the Internet. The free service at www.equitytrader.com rates a universe of 3,500 stocks in two dimensions: how they have performed in the past and how they are expected to perform in the future.
EquityTrader employs a fuzzy logic engine to evaluate 54 rules to determine a stock's potential return rating. Both fundamental and technical factors are considered in the model, which was developed by John Bollinger.
The potential return rating is the heart of the EquityTrader service. The rating system uses a trademarked traffic light system to illustrate the model's analysis.
Uniquely, the Web site service offers navigator tabs that allows the user to visit a stock's parent industry group or to visit the other securities in the same industry group. When viewing the chart of an industry group, the navigator tabs allow viewers to review individual stocks in the group. Features of the service can be customized by the user.
Acme Analytics Corp. was founded by John Bollinger, CFA, CMT, who is best known to market analysts for his Bollinger bands charting technique. Bollinger is also a CNBC commentator.
Acme Analytics Corp. PO Box 3235 Manhattan Beach, CA 90266 Phone 310 798-8855 EquityTrader Web site: https://www.equitytrader.com
NEW -- Equis International has introduced MetaStock for Windows CE, a new version of its investment analysis software for mobile investors using handheld personal computers.
MetaStock for Windows CE offers four charting styles: bar, bar with open, line and candlestick. It offers 18 popular indicators for technical analysis, including MACD, moving averages, Bollinger bands and relative strength index. Internet links are available for news and quotes.
Included in the annual lease pricing ($89) of MetaStock for Windows CE is access to historical and end-of-day prices from Reuters Trend DataLink via the Internet. A free trial version is available from Equis's Web site.
Equis International 3950 South 700 East, Suite 100 Salt Lake City, UT 84107 Phone 800 882-3040 https://www.equis.com
FYI -- CQG, a provider of quotes and graphics for trading professionals, has announced the opening of a new Los Angeles regional sales and technical support office. Three futures industry veterans will launch and develop the new office located in Century City.
The Los Angeles office is the latest to be opened by CQG in a period of global expansion for the company. Other locations opened recently include Moscow, Milan and Zurich. A Tokyo office will open soon. With the additional offices, the company seeks to localize its services and enhance customer support.
CQG is a provider of fully integrated real-time data and graphics systems for trading professionals. It is headquartered in Glenwood Springs, CO, with offices in Chicago, New York, Los Angeles, London, Paris, Frankfurt, Moscow and Milan.
CQG Inc. PO Box 758 Glenwood Springs, CO 81602-0758 phone 800 525-7082, 970 945-8686 fax 970 945-4451 Internet https://www.cqg.com
TRADING CONTEST
The Kansas City Board of Trade (KCBT) and Technical Analysis of STOCKS & COMMODITIES magazine (that's us!) will cosponsor a Mini Value Line trading contest. The contest, in which participants compete in real accounts with real money, is being conducted in honor of the 15-year anniversary of trading in the Mini Value Line futures, a stock index contract created with the individual investor in mind.
Trading will begin August 3 and end November 30. The first-place finisher will be awarded $5,000 and a copy of S&C on CD, second place $2,000 and third place $1,000. Numerous other prizes will be awarded as well, including monthly cash prizes and merchandise.
Participants may enter the contest through any brokerage house, provided that contest rules and regulations are adhered to. AudiTrack Inc. will serve as contest administrator.
Entry forms and contest details are available from the KCBT Web site or by calling KCBT at 800 821-5228.
RISK-BASED APPROACH TO INVESTING
$MoneyMaximizer software from Trading Research Design, developed by hedge fund manager J.C. Coppola III, offers risk-based accounting, so investors can view their portfolios from the standpoint of risk. Users can access data manually, in delayed time or in real time via the Internet or through a data service provider. $MoneyMaximizer's real-time pro version offers access to 20-minute delayed data for $1 per month.
For managing international investments, $MoneyMaximizer offers multiple currency units. Help files are offered in multiple languages. Symbol lists cover all major global exchanges. The real-time pro version includes an options calculator.
The starter edition costs $49.95, the full version is $159 and the real-time version costs $259.
Trading Research Design phone 716 86-0179 (US), +32.3.820.72.55 (Europe), +65 9619 8734 (Asia) https://www.moneymaximizer.com
OFFICE SKILL TESTING
Do you need to hire an office assistant? Could you use some help reviewing employment candidates' office skills? Biddle & Associates has released a new version of its OPAC System (Office Proficiency Assessment & Certification), a testing package designed to measure office skills. Developed by Professional Secretaries International, the automated software offers self-scoring tests.
Tests include keyboarding, word processing, language arts, records management, basic math, financial recordkeeping, databases, spreadsheet, 10-key, data entry, and medical and legal terminology. Plus, the new test writer feature and validation module allow you to write your own tests. Test results are stored on the PC hard drive for future reference and comparison.
FINANCIAL WEB SITE
To give browsers speedier access to its Web site, institutional broker Prebon Yamane has launched twin Web sites in London and New York (https://www.prebon.com and https://www.prebon.co.uk). Both provide free access to select financial market data and showcase Prebon Yamane's analytic tools.
The sites offer free market data and commentaries, free trials on price modeling tools such as the cross-currency arbitrage calculator, information on the firm's products, services and contracts, and news about employment opportunities. The site also provides free trials of the firm's subscription services.
Prebon Yamane https://www.prebon.com https://www.prebon.co.uk
OPTION ANALYTICS
Option Wizard version 7.2 computes the expected option prices for future dates given a range of expected underlying prices.
The user inputs the expected price range, and Option Wizard provides the expected options prices for up to 200 future days. This feature helps eliminate the need to estimate the gain or loss on the options position given the underlying's movement.
Version 7.2 retains the pricing, backtesting and trading system features found in earlier versions. Option Wizard ($130) is only available over the Internet via E-mail or download.
Option Wizard phone: 847 446-2222 E-mail jas@option-wizard.com https://option-wizard.com
STATISTICAL SOFTWARE
MINITAB has released a new version of MINITAB Statistical Software, Release 12 for Windows.
As with previous versions, Release 12 is nonmodular and comes with complete documentation and free technical support. In the area of data management, Release 12 features multiple worksheets, easy subsetting, and a new project file format. In the area of general statistics, users can find out the smallest sample size that will remain a representative sample for their analysis.
Other features include estimations and tests for paired-t and one- and two-proportion problems, multiple comparisons, and unbalanced nested designs. It is compatible with OLE technology. Graphs can be saved in JPEG, PNG, TIF and BMP formats. A free demo CD for MINITAB Release 12 is available upon request.
MINITAB 3081 Enterprise Drive State College, PA 16801-3008 phone 800 488-3555, 814 238-3280 fax 814 238-4383, sales@minitab.com https://www.minitab.com
EXCHANGE-TRADED CONSUMER CREDIT PRODUCTS
The Chicago Mercantile Exchange has filed for regulatory approval to trade futures and options addressing default risk in the $1.2 trillion consumer credit market. The CME Quarterly Bankruptcy Index (CME QBI) is aimed at providing risk management tools to credit card companies, banks and other consumer lending institutions. The CME QBI is an exchange-traded product designed to target the credit derivative market.
The CME Quarterly Bankruptcy Index will be based on the number, in thousands, of new bankruptcy filings in US bankruptcy courts. Futures will be sized at $1,000 times the CME QBI. Tick size will be 0.025, equivalent to 25 bankruptcy filings and valued at $25. The contracts will expire in the March quarterly cycle. A launch date will be set shortly.
Chicago Mercantile Exchange 30 South Wacker Drive, Chicago, IL 60606 phone 312 930-1000 https://www.cme.com
