Rank: Newbie
Groups: Registered, Registered Users
Joined: 5/17/2005(UTC)
Posts: 2
Location: Santa Cruz, CA
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How does “Update Symbol Base” work?
I purchased a software package that had stock symbols listed by their S&P Groups. Unfortunately when I download data for these stocks and review the collection report with the error filter checked, I had 136 pages of unknown symbol errors. Averaging about 54 errors per page is over 7000 errors. When I filter only good stocks (OK) I have 3781 pages.
Is there some way I can point the “Update Symbol Base” at the “S&P Groups” file on my C: drive?
I have MetaStock 8.01 EOD and use Reuters DataLink. The software was also designed for Reuters' data.
Any suggestions will be much appreciated.
Thanks,
-Walt-
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 3/7/2005(UTC)
Posts: 1,346
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hey walt.... the update symbol base might have more to do with recalling a live chart than updating the end of day local data files, the ones we use for downloading......
had always been confused on its purpose myself, patrick had explained it to us some time back....
that does sound like a lot of unknown symbol errors.... you might be able to download the symbol data base from equis....h
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Rank: Member
Groups: Registered, Registered Users
Joined: 4/27/2005(UTC)
Posts: 13
Location: Salt Lake City, UT
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When you select "Update Symbol Database", it updates the list of available symbols - it does not update your local data folders. Since local data file locations are completely controlled by the user, the Downloader would have no idea where it would put each new security.
What this means in practice is that all Data on Demand groups will be current (i.e. Stocks Grouped by Sector will have the latest info). Local data folders would need to be managed manually. While this is easy enough to do if you only have a few folders, for something like the Stocks Grouped by Sector folder tree, it can be a headache. For this reason, we print a new data CD every couple months which has the current sector breakdown.
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 3/14/2005(UTC)
Posts: 65
Location: Cocoa, Florida
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KevinC wrote:Local data folders would need to be managed manually. While this is easy enough to do if you only have a few folders, for something like the Stocks Grouped by Sector folder tree, it can be a headache. For this reason, we print a new data CD every couple months which has the current sector breakdown.
Kevin,
I do this manually and have not found it to be that bad after the initial set up. I have 4 alphabetical folders set up and all stocks also listed in 102 Industry Groups. I generally do a lot of my scans by IG and then do any work (support, resistance, notes, etc) in the alphabetical folders as once I buy them or I'm watching them they are easier to bring up quickly by the alpha folders.
Every night after I download the EOD data from Reuters Datalink, I just write down the symbols that have to be changed and then go to Tools/Find Local Security. This tells me which folders the stock is in to make the changes to. At the end of every month, I print out the list of IPO's for that month, wait for Metastock to update the symbol database, and then add them into the correct IG. There is usually only 10-20 of these so it isn't that much trouble.
My reason for doing this is because I originally deleted all the .PK and the .OB stocks from the IG list as I did not want any stocks under $1.00 in the IG folders. Barchart.com does the same thing and it seems like a good idea. Do you agree or, in your experience, is it a better idea to keep the entire list as Metastock creates it? If I were to use the update CD you mention every couple of months, it would put back in all the .OB stocks I deleted.
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 5/22/2005(UTC)
Posts: 59
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Hi Steve,
You mentioned that "you write down the symbols that have to be changed"; where do you get that list of symbols and the list of IPO's?
Many thanks!
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 3/30/2005(UTC)
Posts: 53
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I like the idea of a new data CD every couple of months - where do we get it?
Andrew
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 3/14/2005(UTC)
Posts: 65
Location: Cocoa, Florida
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lcl wrote:You mentioned that "you write down the symbols that have to be changed"; where do you get that list of symbols and the list of IPO's?
lcl,
I get the list of symbols that have to be changed every night by clicking on "Additional Information" (it either says that or something very similar) in the Collection Report box that comes up as soon as the download is done. This is the second line in that box right under "Message from Reuters Datalink".
I get the IPO's from the Nasdaq site (they list them for all markets). Go to nasdaq.com and then click on IPOs under the New Issues heading on the left hand side. I just use the ones in the Pricings box as they are the ones that have been added that month. Just click on more in that box and you will get all the details.
Steve B
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Rank: Newbie
Groups: Registered, Registered Users
Joined: 5/17/2005(UTC)
Posts: 2
Location: Santa Cruz, CA
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Thanks hayseed and KevinC for your responses and everyone else who joined in. I’ve learned a lot more than just the answer to the question I had asked. I’ll be keeping an eye on the forum.
Thanks again,
-Walt-
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