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Stock-Picking Software - Early Results

Maverick Investor said: "As an experiment, I invested in a piece of software recently that trawls through 6,000+ penny stocks, analysing them at pace against a set of technical criteria, and spits out any that look good on the day. I'm not running it every day because it's runs on the PC, which I only fire up when I think about it. (I'm on a Mac for every day use). Anyway, so far we have one up, two down, and one level. Here they are... January 4th - EDGR - recommended $3.06, today $2.82 (-7.8%) January 7th - PNS - recommended $2.30, today $2.52 (+9.6%) January 8th - IMNY - recommended $3.14, today $3.18 January 11th - ITI - recommended $3.49, today $2.96 (-15.2% - ouch!) So, not the best so far but, as the fella says, "Insufficient data - experimentation continues" For completion, we do have a new recommendation today... January 15th - UPFC - recommended $3.60 Watch this space!"

AlfredSokol said: "So it comes up with stocks that are "good buys" and gives you a target price?"

Maverick Investor said: "Actually no - though I can see how you saw that in what I wrote. I try to run the software when the market is closed. If it comes up with a buy, I log the price at that moment (between sessions) and go from there. Today, I ran it while that market was open, and I just gave the price I saw it at at that time. I think what it's doing is looking for certain chart patterns, volume patterns and other indicators, and flagging up any stocks that have as many of those coinciding as possible. There is no target price given, though. Apologies for the confusion."

Maverick Investor said: "Just ran the software this morning, ahead of market opening, and it came back with APT as a strong technical play. APT (Alpha Pro Tech Limited) closed last night at $1.55. Let's see where it goes from here! [URL="http://finance.yahoo.com/q?s=apt"]http://finance.yahoo.com/q?s=apt[/URL] Cheers!"