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PowerTools 10.4 for eSignal was released today. If you are a current subscriber to PowerTools for eSignal and wish to use it immediately, please follow the instructions below.

If you are currently subscribed to PowerTools for eSignal and would like to upgrade to the latest version, please close the eSignal Advanced Charting program.

Point your mouse cursor at the link below, RIGHT CLICK THE LINK and select “Save Target/Link As…” from the menu to save the file to your computer :

• PT-TradingSystems.efs

Assuming that eSignal Advanced Charting is installed on your C: drive, when the Save As dialog box pops up, double click each folder icon in this sequence: My Computer > C: > Program Files > eSignal > Formulas > Advanced > PowerTools folder.

Click the Save button and the PT-TradingSystem.efs file will be downloaded to
C:\Program Files\eSignal\Formulas\Advanced\PowerTools

The old PT-TradingSystem.efs file will be overwritten by the current one, and you will be using the latest version. All other files in the PowerTools directory should be deleted.

Release Notes

Please check all settings carefully before using as some have been changed in this upgrade. Refer to Technical Specifications if you have any questions.

StopFactor
The StopFactor is now measured in slightly different units. StopFactor = 1 in the old version is approximately StopFactor = 1.5 in this version.

TradeStart/TradeEnd
For intraday trading of any kind, it may be better to use a 24-hour time chart and restrict the hours of operation of the trading system.

OwnCapital
The default has been increased to 50000.

DollarsPerPoint
The default setting of 1 is for stocks. If you are trading futures or currencies, please be sure that DollarsPerPoint is set correctly.

Miscellaneous
For this upgrade, the default TrendFilter = False, and default StopFactor = 1.5. The StopFactor parameter allows you to explore the effects of tightening or loosening stops. If you wish to test the stops with the eSignal back testing tool, my suggestion is to test the range between 1 and 1.5 at 0.1 increments. StopFactor settings under 1 are insufficient. When it comes to directional trading, it is perhaps not possible to tighten the initial stop or trailing stop beyond what volatility dictates.

• How the eco-footprint concept can be applied in everyday life [PODCAST]
  When it comes to environmental footprints – many of us are like the ugly stepsisters in Cinderella — trying to pretend our feet are smaller than they really are. Today on Sounds Like Canada — it’s truth time, and time to find out how the eco-footprint concept can be applied in everyday life. Shelagh talks to the man who invented the term “ecological footprint,” University of British Columbia professor William Rees.
• Oil and the dollar
  The depreciation of the dollar has certainly been the focus of much discussion by reasonable people recently. And if reasonable people are talking about it, then unreasonable people will also be talking about it. But if you believe that the falling dollar is the explanation for why oil prices are going up, then maybe you also think that Osama Bin Laden’s real mission is to reverse global warming.
• Knowing the known unknowns of a possible market disaster
  A market crash might be the sexy Hollywood-style sudden ending that people are waiting for. But not Mr. Das. He forecasts a grindingly slow unravelling of the sort that occurred in the 1970s, when inflation effectively halved portfolio values over a period of five to seven years.
• Rising Rates to Worsen Subprime Mess
  More than half of the subprime delinquencies and foreclosures this year involved loans that hadn’t yet reset, and thus were due to factors such as weak underwriting and falling home prices, according to Rod Dubitsky, an analyst with Credit Suisse.
• Adapting Finance to Islam
  In Islamic banking, financiers are required to share borrowers’ risks, meaning that depositors are treated more like shareholders, earning a portion of profits. Financing deals resemble lease-to-own arrangements, layaway plans, joint purchase and sale agreements, or partnerships.
• Commodities Rise as Dollar Tumbles
  [Editor: We’re at the point where people are confident enough to make the big extrapolation-type of predictions.] Oil should head towards $120 a barrel within the next 6 to 12 months, Greg Smith, managing director UK at Fat Prophets, tells CNBC’s Geoff Cutmore in a discussion on the impact of the dollar weakness on commodities prices.
• Guest Investor
  Alex Crooke, fund manager at Henderson Global Investors, is Friday’s guest investor with CNBC’s Guy Johnson.
• Davidowitz Says ‘Worst Is Yet to Come’ From Consumers
  Howard Davidowitz, chairman of Davidowitz & Associates Inc., talks with Bloomberg’s Matt Miller in New York about the holiday retail sales, the state of U.S. consumers, and the outlook for Wal-Mart Stores Inc. and Macy’s Inc. Bloomberg’s Monica Bertran and Ellen Braitman also speak.
• ‘We Told You So,’ Says Trichet
  Jean-Claude Trichet, president of the European Central Bank, told the European Banking Congress in Frankfurt Friday that the present market turbulence should come as no surprise, as central banks had warned about an upcoming correction because of the reassessment of risk.
• How Exposed are Spanish Banks to Subprime?
  European banks are front-and-center as the credit crisis continues to push forward. One region where there has been little exposure to the credit crunch is Spain. CNBC’s Geoff Cutmore talks to Arturo De Frias, banking analyst at Dresdner Kleinwort, about the strength of the Spanish banks.

Instead of shopping, I gave video another try.

Seems like it’s working much better now, so let’s take a look at two beaten-down financial stocks: CountryFried Financial and CitiCorpse.

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