Go to Jeff Salisbury LWGate Home Page.From: "S Menon" <menonz@hotmail.com>
Subject: [CANSLIM] Ticker (ARMS etc)
Date: Wed, 10 Sep 1997 19:15:58 PDT
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Thought some of you might be interested:
>HOW TO USE THE CNBC TICKER TO FOLLOW THE MARKET:
>
>The Ticker is a continuous display of numbers and
>symbols that helps you understand the buying and
>selling activity of each business day.
>
>The CNBC Ticker provides useful information about
>market indices, stock prices and commodity futures.
>
>This guide will show you how to follow the Ticker+s
>upper and lower bands, and what information you can
>find on a typical business day.
>
>
>THE UPPER BAND:
>
>8:00 a.m. to 9:30a.m. (ET)
>An alphabetical recap of New York Stock Exchange closing
>prices from the previous day's close. Commodity futures
>quotes begin running at 8:00 a.m. and are shown at
>:01, :11, :21, :31, :41 and :51 after the hour,
>in real time. These commodity prices run until
>7:30 p.m. (ET).
>
>9:30 a.m. to 4:00 p.m. (ET)
>Display of real time stock prices, the change from the previous
>day's close and volume data for selected trades on the
>New York Stock Exchange.
>
>4:00 p.m. to 7:30 p.m. (ET)
>An alphabetical recap of New York Stock Exchange closing
>prices for all the stocks that traded that day with the
>amount of change from the previous days close. The
>commodity futures trading recap also appears.
>
>THE LOWER BAND:
>
>8:00 a.m. to 9:30 a.m. (ET)
>An alphabetical recap of American Stock Exchange and
>Nasdaq closing prices from the previous day's close,
>punctuated by market summaries. This recap displays
>all stocks that have traded at least once in the
>previous 20 sessions.
>
>9:30 a.m. to 9:45 a.m. (ET)
>CNBC's real time market summary repeats uninterrupted for
>15 minutes.
>
>9:45 a.m. to 4:15 p.m. (ET)
>CNBC's market summary reports continue along with selected
>American Stock Exchange and Nasdaq stock trades.
>AMEX and Nasdaq trades are delayed by 15 minutes.
>
>4:15 p.m. to 7:30 p.m. (ET)
>An alphabetical recap of issues that traded that day on the
>American Stock Exchange and Nasdaq with their changes from
>the previous day's close, punctuated by market summaries.
>
>
>TYPICAL TRADES:
>
>HAL 118 +1/4 .. HAL is the stock symbol, 118 is the price at
>which the trade was made, +1/4 indicates the stock is up
>1/4 from the previous day's close. (The "composite" close is the
>last trade of the day on any of the nation's major exchanges,^M
>not necessarily the stock's primary exchange.)^M
>^M
>CDS 15s22 -3/4 .. CDS is the stock symbol, "s" stands for
>shares, so 15s designates the volume of the trade with the last two
>zeroes omitted (1500 in this example), 22 is the price, -3/4
>indicates the stock is down 3/4 from the previous day's close.
>
>NCR 11.000s55 .. NCR is the stock symbol, 11.000s
>designates the volume of the trade (zeroes are not omitted
>if the volume is over 10,000 shares), 55 is the price.
>
>Stock prices are expressed in U.S. Dollars and fractional
>parts of U.S. Dollars. For example, a stock price of
>26-1/2 equals $26.50. Fractions are written out on the
>ticker except for sixteenths, which are designated using
>an apostrophe. For example, 2'3 +'5 on the ticker equals
>2-3/16, up 5/16.
>
>A "class" of a company+s shares are indicated by a period
>and the letter corresponding to the class. Thus, VIA.B
>are the Class "B" shares of Viacom. (Some companies
>issue separate -classes- of stock with specific rights
>or characteristics. For example, different classes may
>have different voting rights.)
>
>Preferred shares are designated with a PR after the
>symbol. For example, Fpr would be used for Ford+s
>preferred shares. FprB indicates Ford+s Class B
>preferred shares. (Preferred shares give their owner
>a claim ahead of common stockholders to a company+s
>earnings and assets. They generally pay a fixed
>dividend that+s determined when the shares are issued.)
>
>The letters "WI" after a stock symbol indicates
>"when issued" trading. That+s trading between the
>time a new security is announced and the time when
>certificates are actually issued.
>
>Due to the large number of trades, the ticker is unable
>to show every transaction. Our computer selects which
>trades to show, based on factors including the number of
>shares and the movement in price from the previous trade.
>The larger the volume or the price movement, the greater
>the chances that the trade will be included on the ticker.
>
>
>COMMODITY FUTURES SYMBOL GUIDE:
>
>The first two letters of a Commodity Symbol indicate the
>name of the Commodity. (There are a few commodities with
>one-letter symbols) The third number indicates the month
>of the contract for that commodity.
>
>Commodity Sym. Commodity Sym.
> -------------- ----- ------------- -----
>S&P 500 SP Platinum PL
>S&P 400 MD Palladium PA
>Russell 2000 RL Copper HG
>NYSE Index YX Corn C
>Nasdaq 100 ND Wheat W
>Nikkei 225 Ind. NK Soybeans S
>Value Line KV Soybean Oil BO
>T-Bonds US Soybean Meal SM
>T-Bills TB Oats O
>Eurodollars ED Live Cattle LC
>Federal Funds FF Feeder Cattle FC
>2-Year T-Note TU Goldman Sachs
>5-Year T-Note FV Commodity Index GI
>10-Year T-Note TY Live Hogs LH
>Libor 1-month EM Pork Bellies PB
>Muni-Bonds MB Cotton CT
>Dollar Index DX Lumber LB
>Swiss Franc SF Crude Oil CL
>Deutschemark DM Heating Oil HO
>Japanese Yen JY Unleaded Gasoline HU
>British Pound BP Natural Gas NG
>Canadian Dollar CD Sugar SB
>Australian Dollar AD Coffee KC
>CRB Index CR Cocoa CC
>Gold GC Orange Juice JO
>Silver SI
>
>
>
>Month Due Symbol Month Due Symbol
> ---------------- ------ ------------- ------
>January F July N
>February G August Q
>March H September U
>April J October V
>May K November X
>June M December Z
>
>
>
>
>GLOSSARY OF MARKET SUMMARY COMPONENTS:
>
>
>Stock Exchanges
>
>New York Stock Exchange: The NYSE is also known as the
>Big Board. Listing more than 3,275 stocks, the NYSE
>generally lists the oldest, largest and best-known
>companies in the United States. Stocks are exchanged on a
>trading floor located on Wall Street in New York City.
>
>The Nasdaq Stock Market: Includes the Nasdaq Stock Market
>and Nasdaq National Market, or NNM. There is no physical
>exchange where stocks are traded. Instead, prices are
>determined and trades are made on computer screens at
>brokerages around the country. The Nasdaq Stock Market is
>not synonymous with the over-the-counter market. The more
>than 5,000 Nasdaq-listed companies trade in a highly
>structured environment which has listing standards,
>real-time trade reporting, corporate governance
>requirements, affirmative obligations for market makers,
>execution services and automatic linkages with clearance
>and settlement facilities. This cannot be said of the
>approximately 5,000 OTC securities.
>
>American Stock Exchange: Listing approximately 940 stocks,
>the AMEX lists smaller, younger companies. The AMEX
>trading floor is in New York City.
>
>
>Futures Exchanges (Chicago)
>
>Chicago Board of Trade (CBT): Grains, bonds and short-term
>interest rates.
>
>Chicago Mercantile Exchange (CME): Livestock, currencies
>and stock index futures.
>
>
>Futures Exchanges (New York)
>
>The Commodities Exchange (COMEX): Precious Metals, Copper
>and Aluminum
>
>New York Cotton Exchange (NYCE): Cotton and Dollar Index
>
>New York Mercantile Exchange (MERC): Petroleum and
>Precious Metals
>
>Coffee, Sugar and Cocoa Exchange (CSCE)
>
>
>INDICES, AVERAGES AND OTHER MARKET INDICATORS IN THE CNBC
>MARKET SUMMARY
>
>DJIA: The Dow Jones Industrial Average, also referred
>to as "The Dow." The Average is calculated using a
>formula and the common stock prices of 30 major U.S.
>industrial companies listed on the New York Stock
>Exchange.
>
>TRAN: The Dow Jones Transportation Average is
>calculated using the prices of 20 airline, trucking and
>railroad company stocks.
>
>UTIL: The Dow Jones Utility Average is a group of 15
>gas, electric and power company stocks.
>
>DJCOMP: The Dow Jones 65 Composite Average is calculated
>from the average of all the stocks in the Dow Jones
>Industrial, Transportation and Utility Averages.
>
>S&P 500: The Standard & Poor's 500 Index is calculated
>using the stock prices of 500 relatively large companies
>as measured by capitalization. (Capitalization is the
>value of a company as measured by the market price of its
>common shares multiplied by the total number of shares
>that have been issued.). The S&P 500 is widely used as
>an indicator of stock market trends and for futures
>trading strategies. The Index is market-weighted, which
>means the component stocks affect the Index in direct
>proportion to the dollar value of the shares outstanding.
>The components of the Index can change, as S&P adds or
>deletes stocks to reflect changing conditions.
>
>The Standard & Poor's 500 is also broken down into
>smaller industry segments which are monitored separately.
>These segments are industrial (400 companies),
>transportation (20 companies), utilities (40 companies)
>and financial (40 companies.)
>
>PREM and FV: The PREM Value Index and Fair Value are
>useful in determining when computer driven "buy"
>or "sell" programs are likely. Through computer
>programs, traders take advantage of premiums or
>discounts between the current price of stocks
>and stock index futures. Comparing the actual
>index to the futures contract, a trader will
>quickly sell the more expensive of the two and
>buy the less expensive. This computer-based
>activity (known as "program trading") can often
>accentuate sudden swings in the price of certain
>stocks, or cause dramatic shifts in the entire market.
>Fair Value is a figure calculated once each day.
>It+s what traders believe is the "proper" or
>"fair" difference between the current price
>of stocks and futures, based on interest rates
>and other factors.
>
>In general, when the PREM is significantly
>higher than the Fair Value, buy programs are
>likely to occur. When the PREM is significantly
>lower, sell programs are likely. As a contract
>moves toward expiration, the difference between
>the future and cash price will diminish.
>As a result, the premium or discount needed
>for a buy or sell program will also get smaller.
>
>30-YR YLD: The yield of the most recently issued 30-year
>U.S. Treasury Bond. This is widely used as a benchmark
>for long-term interest rates. Due to limited data
>availability, it is only shown between 9 a.m. and 3 p.m.
>Eastern.
>
>XMI: The Major Market Index is a price-weighted index of
>20 stocks. It is the basis for options traded at the
>AMEX and futures traded at the Chicago Board of Trade.
>
>OEX: Known as the S&P 100, this is used by the Chicago
>Board Options Exchange to trade stock index options.
>
>NYSE: The NYSE Composite Index, a capitalization-
>weighted index of all common stocks listed
>on the New York Stock Exchange, is the basis for options
>and futures traded on the New York Stock Exchange.
>
>TICK: This is a very short-term trading indicator. It
>is the difference between the number of NYSE stocks
>trading at a price higher than the previous trade
>("uptick") and the number of stocks trading at a lower
>price than the previous trade ("downtick"). That is,
>TICK = Number of stocks moving higher minus the number of
>stocks moving lower. A large positive tick (the number
>usually ranges between -600 and +600) generally means the
>market is attracting more buyers than sellers. The
>opposite is true of a large negative number. The
>direction of the tick is important. If it is moving in
>a positive direction, (-100, 0, +150), it means the
>market is moving upward. If the tick is moving in a
>negative direction (+100, 0, -150), it means the market
>is going down.
>
>ARMS: This used to be called the Trin, or the
>short-term trading index. It is the ratio of the
>quotient of advancing issues divided by declining issues
>and up volume divided by down volume.
>
> Advancing Issues / Up Volume
> -------------------------------- = ARMS Index
> Declining Issues / Down Volume
>
>The direction of the ARMS Index is most important.
>A falling ARMS signals a strong market,
>while a rising ARMS suggests weakness ahead.
>The normal range is from 0.5 to 2.0.
>
>NY ADV: The number of stocks on the New York Stock
>Exchange that have increased in price from the previous
>day's close.
>
>DEC: The number of NYSE stocks that have decreased in
>price from the previous day's close.
>
>UNCH: The number of NYSE stocks trading at the same
>price as the previous day's close.
>
>NY VOL UP: The number of shares that have been traded
>for NYSE stocks that have increased in price from the
>previous day's close.
>
>DN: The number of shares that have been traded for NYSE
>stocks that have decreased in price from the previous
>day's close.
>
>TOT: The total number of shares that have been traded in
>NYSE stocks during the current trading day.
>
>VAL: The Value Line Index is an arithmetic average of
>1700 stocks compiled by Value Line. It is the basis for
>options traded on the Philadelphia Board of Options
>Exchange.
>
>MID: The S&P MidCap 400 Index is calculated using the
>price of 400 medium-sized U.S. companies.
>
>WSX: The Wilshire Small Cap Index measures the
>performance of companies with relatively small
>capitalizations. It is a market-weighted index that
>includes 250 stocks, chosen on the basis of their market
>capitalization, liquidity and industry group
>representation. The Small Cap Index originates from the
>Wilshire Next 1750 Index, a benchmark for institutional
>investors in the small cap sector.
>
>SOX: The Philadelphia Stock Exchange's Semiconductor
>Sector index measures the performance of some of the
>largest and most widely-held U.S. computer chip stocks.
>This price-weighted index is made up of 16 stocks,
>including Intel, Micron Technology and Texas Instruments.
>
>MSH: The Morgan Stanley High-Technology 35 Index is
>designed to measure the performance of the electronics-
>based technology industry. Hewlett-Packard, IBM and
>Microsoft are among the 35 stocks in this
>equal-dollar weighted index.
>
>BKX: The Philadelphia Stock Exchange/Keefe, Bruyette &
>Woods Bank Sector index is composed of stocks
>designed to represent national money center banks and
>leading regional institutions. It is a capitalization-
>weighted index. BancOne, Citicorp and Wells Fargo are
>among the 24 stocks in this index.
>
>CRB: The Bridge Commodity Research Bureau Price
>Index tracks 17 commodities. A decline in the CRB
>indicates commodities prices are falling, which can signal
>lower inflation and interest rates, possibly leading to
>higher bond prices.
>
>XOI: The AMEX Oil Index includes 16 oil stocks. An
>increase can indicate rising oil prices, which may lead
>to increased inflation.
>
>XAU: The Gold and Silver Index is comprised of seven
>stocks on the New York and American Stock Exchanges. Some
>investors consider gold to be a "safe haven." As a result,
>its price often goes up in times of inflation,
>international finance crises and threats of war.
>
>
>AMEX AND NASDAQ SUMMARIES:
>
>These summaries provide information about each of these
>exchanges, including the number of advancing and declining
>issues and up and down volume.
>
>AMEX: The American Stock Exchange AMEX Composite Index
>includes all common stocks listed on the American Stock
>Exchange.
>
>NMS COMP: Nasdaq's National Market System Composite is
>an index of all issues traded over-the-counter on the
>Nasdaq National Market System
>
>
______________________________________________________
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