Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
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I watched a very large seller move into the marketplace, and I quickly sold my 200 shares before both the bid and ask dropped. I lost $10.00 on this deal. Ah well, I'm sure I'll have another opportunity to swing at this pitch.
- Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1037026>
I am currently out of the market and sitting out until we can get a nice daily half cycle up. I currently think we are in the down half cycle on most indexes.
Yesterday was the 4th distribution day in the last 4 weeks in the NQ which usually calls for caution based on WJOs market IT topping signals. I am still a beginner with this so I am not exactly sure.
Yesterday was the 4th distribution day in the last 4 weeks in the NQ which usually calls for caution based on WJOs market IT topping signals. I am still a beginner with this so I am not exactly sure.
I decided to try again today and purchased 200 shares of ENER. So far, the market appears to agree with me.
- Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1037168>
- Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1037168>
ENER looks like the winner for today, if you caught the low band volume signal. It happened after 11 AM, which dims the significance, but since then it has moved a good .60 cents. I didn't bite on it... but I just wanted to mention it. Now that I look at yesterdays chart on wealth lab, it could have been a Bruno setup too... thoughts?
When reviewing charts last night, I put a check mark next to ENER to remind me to check in on it throughout the day. I thought it might need another day or two to set up (See Attached Chart) based on where price fell with relation to the current trendlines, and looking at the Stochsatics (5,2,3) - still trending lower (as of last night). However, in case ENER decided to move early, I wanted to be able to grab a small Position. We will see if this trend continues tomorrow.
However, BTUI seems to be the trade of the day. Unfortunately, I missed the entry (too slow). Price at time of signal generation for BTUI fell at the $18.29 USD Price Point. I hope many of you caught that one.
- Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1037190>
Thanks for posting chart, I haven't figured out how to post the images yet...
I concur with you assessment on ENER. The Stochastic was definately pointing down. Is a Bruno signal primarily an EOD type of analysis? If not, you could expand and say watch all stocks in the FU that have Stochastic(5,2,3) hovering around 20 (up or down trend) and look for entry signals on subsequent day. In today's case, the Stochastic for ENER went from down trend to uptrend in a hurry...
I didn't have BTUI on my watchlist, it wasn't in Dry Up, so I didn't watch it at all, bummer
SIRF took off today too, good call on that one 4X.
I concur with you assessment on ENER. The Stochastic was definately pointing down. Is a Bruno signal primarily an EOD type of analysis? If not, you could expand and say watch all stocks in the FU that have Stochastic(5,2,3) hovering around 20 (up or down trend) and look for entry signals on subsequent day. In today's case, the Stochastic for ENER went from down trend to uptrend in a hurry...
I didn't have BTUI on my watchlist, it wasn't in Dry Up, so I didn't watch it at all, bummer
SIRF took off today too, good call on that one 4X.
If you have a 'Screen Shot' capture program (e.g. Snag-it 7) you simply create an image and save it to your hard drive. Snag-It also allows you to add the circles and arrows to the chart (I am sure other programs do as well). Otherwise, you can export a chart out of your trading software, and then add lines using MSPaint. When you post, simply click the 'browse' button below the text entry box. locate the chart and click on it twice. Once posted (in attached form), you can then have the chart appear in your post by clicking the attachment, highlighting the URL for the attachment, and pasting into the post (via clicking edit / delete button). Click the quote button on one of my chart attached posts to see how the 'chart added' posts look using the "img src" and "url' tags.
Jack's 'Bruno R' set up calls for a cross of the stochastics lines. We look for these set ups at EOD looking to enter on the following day. Because of ENER's location within the trend channel (see previously posted chart), I simply anticipated a possible move a little early. We shall see if tomorrow actually confirms the change in short term trend direction. Jack suggests "getting in late, and exited early" when trading his methods. The 'Bruno R' Set Up allows us to do just that.
Quote from chapper:
I didn't have BTUI on my watchlist, it wasn't in Dry Up, so I didn't watch it at all, bummer
The beautiful thing about this system is: If you miss the first train, another train will come along for you to ride shortly.
I agree. Very Nice call there.
- Spydertrader
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