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I just watch a webinar for a new IBD product called Leaderboard. It wasn't a very good webinar but I think the overall explanation of the product is that it will provide both long and short watch lists of CAN SLIM stocks. I think with buy and sell points. It will include a daily refresh of the IBD 50.
For this they want to charge 70 / month or 700 / year. Have any of you looked into this? Would really pay 1000 / year for Market Smith and then another 700 for something like that? I don't know, I suppose if you make money with it, it's worth it. If you make money with one do you need the other?
Do you feel it should be included with a Market Smith subscription? I need to find out more about it before I can answer such questions but I thought some here might already be in the know and have an opinion.
IMHO you would probably need only one of them: MS or this new product (first time I heard about it) Leaderboard. The purpose of MS is to help you with screening and finding stocks to buy. If you know CANSLIM fairly well, MS will give you everything you need to do your own picks. On the other hand, if you don't have the knowledge or the time to use MS, then you should probably go with a paid service with signals and picks, like Leaderboard sounds. MS is basically DIY, and the other one is full service. Of course, IBD sales guys will probably say you need them both, but of course...
I watched the webinar as well, and have the same questions and more.I'd like to see more info on the product. There is no info that I can find. And as an IBD subscriber, I'd have liked to get a good exclusive preview and trial - it was only by chance that I caught that webinar.And I'd need to test the product.
Would I get the new product as of now... hmm. The thing is, in order to get the TRIAL, you have to renew your IBD subscription, and as I have 6-8 months to go, it seems a bit much to renew at this point. NOT happy about that AT ALL, that is a complete turnoff and I was not the only one protesting. If they are afraid I'll make money off the trial period, my question is, with the market in correction, how would I use the product at this point of time anyway? By shorting... what if shorting isn't my thing? And isn't the point of any trial to give you a little freebie (make you a bit of money) and thereby get you thoroughly hooked?
I see a lot of add-ons to MS -- my issue is that the product is getting expensive. Yeah, theoretically I'd make the money back, but I'm new to CANSLIM and I have not reached that point yet. So this is a catch-22 for me.
The list would probably help, but I don't see any guarantee for the outlay.
I noticed just yesterday the Leaderboard link on the the website. They allow you a two week free trial so we didn't miss out there.
Yea, my thoughts were that you would probably not need both. Still I would think as the more expensive product they would give you the leaderboard features in Market Smith. Seems Leaderboard does not have all the data and screening power of MS but has some other features. My first impression is that it is a scaled down version of MS and not another product I would buy.
I know this thread was started a a few months ago and the last post was
09-13-11 but if I may add something to help those interested in either
MarketSmith or LeaderBoard I be happy to add my experience since I'm
currently subscribed to both. I totally agree with everyone these are
not inexpensive tools. MarketSmith is the premium of the 2 giving you
complete priceless institutional data all with your charts in one place,
also provided are all the major Market indices charts which include the
major indexes, business sectors, futures and options making it very
convenient getting the BIG PICTURE quickly.
I first would only recommend MarketSmith or Leaderbord to beginning individual investors that are truly committed to the CAN SLIM investor philosophy and first minimal beforehand have either subscribed to the IBD for at least 3 months, done a fair amount or (both) completed reading of O'neil's book "How To Make Money In Stocks" MarketSmith or Leaderboard are not tools you should just jump right in spending a lot of money until you get a little of the O'neil ideology under your belt in my honest opinion. You will be much better served if you at least do a little reading and observance first for a short while. You won't regret it if you do so that way.
MarketSmith also provides excellent personal markup features giving you control and ability to mark up your charts personally with base patterns and the ability choosing your very own personal mark ups pertaining to support and resistance areas using their selection of provided line tools. Any ticker symbol chart you decide to personally mark up stays permanent. You have complete control to change, delete or remove your mark ups either temporarily or permanently. There is also an additional service you can pay extra for called a "pattern tool" that finds base or consolidation patterns automatically for you. I personally don't agree with extra fee charged for this pattern tool if you desire and agree to pay for feature. The tool should be included with the already expensive $1000.00 yearly service in my opinion.
Overall if your committed to a style of disciplined investing and it is your passion and you want a quality tool that provides a means in giving you the ability to personally notate and mark up your own charts plus have all research and institutional data at your fingertips in one place you really can't go wrong. You should find it will pay for itself as long MarketSmith keeps the price where it currently is. There are even more great features including your ability to make custom organized lists for stocks, ETFs etc..and create separate folders to organize your lists if you wish. I can go on but I mentioned most of the very best features of MarketSmith.
Leaderboard is another great IBD service and if you are a working individual and just don't have the time to read just about every IBD issue keeping up with all their featured leaders this is truly a very reliable service. I personally think you do not need MarketSmith in this case since LeaderBoard provides the charts already marked up explaining every detail of the stock moves which they feature in both their Leader Buy watch lists or Cut indicated "sell" signals lists. The service truly does make it easier for you to decide based on the current market pulse and Big Picture deciding the optimal time for you either get on board or possibly short a stock.
What you don't get with LeaderBoard is the precise flow of institutional data and personal chart mark up capabilities as with MarketSmith but the reality is with LeaderBoard you are simply paying for the IBD market writers to do the stock research and custom chart mark ups helping you decide among the most current strong leaders and providing you the very best ideas to invest in those stocks which they feature. LeaderBoard also is a great way to learn about chart patterns and actually a terrific path to graduate to the use of the more advanced MarketSmith tool thus leaving you to decide if you wish to actually continue with the LeaderBoard subscription once you have a good understanding of that service it really does help you grasp MarketSmith and makes you a better do it yourself investor in my opinion. I hope this really helps clear things up for some but I can't stress enough reading the IBD paper for awhile first, go to investors.com and look at their stripped down version of their stock charts that basically are the same as MarketSmith and LeaderBoard charts just without the added features and tools included with those 2 services. Very important read O'neil's book. How To Make Money In Stocks. I can't stress that enough. Good luck all.
Excellent commentary JRUB22. You summed it all up nicely.
I have been through all the IBD courses including the masters seminar. Both services are great, but I just cancelled marketsmith (Effective next tuesday) because I could only justify one and I think leaderboard does more to reinforce the CANSLIM system than marketsmith. Also, I just don't have time for both. For the busy person, Leaderboard is the way to go.
Thanks so much for this outstanding side-by-side review... I have spent quite a few hours today learning more about CAN SLIM, and noodling around the MarketSmith stuff (I opted for the 21 day trial for a nominal fee). Then I ran across Leaderboard, and it really seems like it would be more useful for me, partly because I don't want to spend hours and hours each week on investing, and it seems to provide more specific sign posts. Your great explication of the two products convinces me that I should probably start with Leaderboard, and as my knowledge grows, I may one day add MarketSmith. Thanks again!
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