The secret of successful stock picking?

EstokzME has introduced Econsul, a number crunching package that tries to make the uncertain art of stock picking a little more certain.

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By  David Ingham Published  June 11, 2002

If you like to trade yourself but got battered by the stock market excesses of the 1990s, a Dubai Media City company may have something for you. EstokzME has introduced a software tool, dubbed Econsul, that tries to predict the likelihood of certain stocks going up or down.

The software is essentially a big number crunching package that analyses historical data and tells you the likelihood of a stock moving up or down by 1-2% in a single day. According to Niraj Goel, EstokzME director, the software has an 82-83% accuracy rate. “If you can make that 1% per day,” argues Goel, “we are talking a substantial return over time.”

However, before you all go out and buy the software, there’s a few things you should know. First of all you need the number crunching software, which is currently being given away free but will cost $299 when version 3.0 comes out soon.

After that, you have to buy the data that the package uses to come up with its probability estimates from EstokzME itself. That data can cost anywhere from $49 to $299 per month and covers a maximum of six stocks.

Goel says that the data has to be bought from EstokzME because it must be analysed before being passed on to the user for final analysis by the Econsul software. Surely this is all starting to get a little bit expensive, especially since brokerage fees have to be paid?

“If you have US $5000 to invest, you can make $50 in a day,” replies Goel, “and if you use [a discount e-brokerage], the charge is $2 per trade.”

So should you try this at home folks? That’s up to you.

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