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Friday, May 23, 2008

TradeRadar software version 3.0 - Bug Report

This past weekend, without much fanfare, I rolled out the latest version of the TradeRadar software, version 3.0.

The software now retrieves some fundamental data from Yahoo Finance to help in making your trading decisions. Yesterday, Yahoo changed something in the URL for financial data retrieval and it no longer works as it used to. This broke my various web widgets as well as TradeRadar and I have been scrambling to roll out fixes.

This post is to announce that the fix for TradeRadar version 3.0 has been deployed to the Trade Radar web site and is available for download.

If you have already downloaded the full version, you will only need to download the upgrade. Here is a link that will take you directly to the upgrade page:

Download Version 3.0 Upgrade

As an added bonus, I have added a new feature to the Dashboard screen: Cash Flow Yield. This indicator is computed by taking the most recent quarter's free cash flow (operating cash flow minus capital investments) and dividing by the market capitalization. I multiply by four to generate an annualized number. By converting cash flow to a yield (ie, a percentage) it has the same form as a per share dividend yield.

What is important about this indicator is that it tells you if a company is generating enough cash to run the business and whether any cash is left over. It is less susceptible than earnings to accounting shenanigans.

As we typically look for reversals to generate BUY signals using the TradeRadar software, we only take into account the most recent quarter. The assumption is that previous quarters were probably bad and that the most recent one might show the beginnings of a turn-around.

Note that in my rush to get the software fix rolled out I have not updated the help file yet. I will announce when the new help file is available for download.

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