Spydertrader's Jack Hershey Equities Journal II

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BNT appeared to meet the Hershey criteria today: Advancing price, MACD positive, sotchastics above 80 and volume above dry up volume by 11 am. So I bought 200 shares.

I ignored the fact that it exceeded Dry up volume yesterday but failed on the stochastics requirement. Was this right to ignore yesterday or should BNT been off my radar yesterday because of the volume?

Question: If BNT doesn't reach FRV by market close, my understanding is that I should sell it. Is my understanding correct here? Is it a sell at the close or at open tomorrow?

Sorry for so many questions, but its a struggle to get your mind wrapped around the details of the system (and the devil is in the details) Thanks for the help.
 
Quote from ohio:

BNT appeared to meet the Hershey criteria today: Advancing price, MACD positive, stochastics above 80 and volume above dry up volume by 11 am. So I bought 200 shares.
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If you entered early, then: So far, so good.

Quote from ohio:

I ignored the fact that it exceeded Dry up volume yesterday but failed on the stochastics requirement. Was this right to ignore yesterday or should BNT been off my radar yesterday because of the volume?
More...

BNT appeared on my list of stocks that met Jack's 'Bruno R' set up. If you followed BNT over the last few weeks, you may have simply decided that it had 'based' long enough, and had the potential to break out soon. Jack's 'Bruno R' post certainly shows how how to look for such stocks, and it looks to me like you found one as well.

Quote from ohio:

Question: If BNT doesn't reach FRV by market close, my understanding is that I should sell it. Is my understanding correct here? Is it a sell at the close or at open tomorrow?
More...

A few people have mentioned they have seen improved returns by waiting until the next morning to sell when an equity does no exceed FRV levels by EOD. Remain mindful for the possibility you decide to get a little greedy and hold beyond the initial opening candle. If I recall correctly, most recommended selling within the first 15 minutes.

Quote from ohio:

Sorry for so many questions, but its a struggle to get your mind wrapped around the details of the system (and the devil is in the details) Thanks for the help.
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Glad to help. Internalizing the process takes time and effort. Posting your questions provides clarity for others. Keep up the great work.

- Spydertrader
 
Thanks spydertrader. I appreciate the input.

As far as Jack's Bruno R setup, I haven't run across that yet. I'll just keep reading.
 
Quote from ohio:

As far as Jack's Bruno R setup, I haven't run across that yet. I'll just keep reading.
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You will find it in Journal Two - once linked and one or two times attached to posts. No need to worry about it until you run across it.

- Spydertrader
 
CTHR was disappointing today. It hit low band volume early enough with price improvement, stoch > 80, MACD > 0.

Never hit FRV at end of day.
 
CTHR fundamentally is in a rough spot... they are basically a gemstone company (very similar to diamond, but it is called mossianite) that gets silicon carbide for its gems supplied by its "sister" company CREE. CTHR got pounded during earnings and honestly I don't see the company going anywhere anytime soon. I have owned CREE stock for about 10 years now, thus my familiarity with CTHR.

IMHO, any signal for CTHR needs to be evaluated carefully... if you jump in too soon, you may catch a head fake (some temporary short covering?) only to watch volume dry up again and price drift sideways/downward.

JMHO, happy trading
 
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