Spydertrader's Jack Hershey Equities Journal II

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Quote from qx04790:

Hi foible,

where is your software? I'd like also to try it. Thanks.

-qx04790
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I tried to attach it but it looks like it failed - too large. I put it up on filefactory.com which offers free web hosting, but deletes files after 15 days of inactivity. (If anyone else knows of a more long-term option, please let me know.)

In the meantime, here it is:

http://www.filefactory.com/?330de7
 
Quote from foible:


Would anyone else have taken this trade? Did you (or do you) see any warning signs?

Thanks for any insights.
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Hi foible,
Here are my two cents:D
The daily chart looks good in my opinion. I circled all of the indicators that make me smile. The price is near the bottom of the channel so perhaps it will increase some more. The problems that I see are that RHAT does not rank and it has a float that is outside the 20,000,000 max. I would not have taken the trade because of those two factors.

I hope this thing makes lots of money for you and good trading to you,

gooch87

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1129173"></img>
 

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Quote from foible:

I'm trying to learn the Bruno R setups and have been taking a few trades with reduced size while waiting for the beginner setups to materialize. I'm also trying to retrain myself to get away from a day trading mindset when .10 is a big deal :)



Today, I had RHAT on my coming buy list since the fast and slow stoch were low, MACD was low and begining to diverge, and the short term channel looks positive.

At 10:00, the daily fast stoch rose to >50, MACD was positive, and it was near the top of the unusual volume list. The 30 min chart looked good (slow stoch >75, MACD >0, up-trending chnnel) so I bought in at 21.82.

RHAT hit 22.43 before dropping back to my entry price, breaking down out of the 30 min channel, but not hitting my stop offset.



Would anyone else have taken this trade? Did you (or do you) see any warning signs?

Thanks for any insights.
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Hi foible,
I'm a beginner trying to lean (or a learner trying to begin), so please take these comments in that context:

As gooch says, RHAT does not make the cull because of RS and float being out of range (RS = 17, EPS is strong though at 94 - from stocktables).

The volume profile is also not a DU->FRV scenario.
The stochs on the 30 minute were good until midday but were not supported by high volume. The daily slow stoch remains stuck below 20. From the chart it looks like there is support at around 21, but a lot of volume has been required to keep it there.

JY
 
Quote from justyield:

These are real-time paper trades (everything is there except the risk / reward part and the stress):

Buy GIGM 8.11 - 12:20 11 July
Buy IVAC 23.98 - 12:35 11 July
Buy PRFT 13.10 - 12:30 11 July

JY
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GIGM +0.1%. Will probaby sell between open and 11am.
IVAC +3.3%. HOLD. Down on lighter volume, stochs OK.
PRFT - took stop at 12.65 -3.4%

Buys on 12 July:
Buy NTRI 65.65 -1.1%. HOLD as up on day and volume and stochs OK. Channel position a concern.

Buy ARD 33.98 +1.2%. HOLD (volume and stochs).

Buy ALJ 35.51 +1.1%. HOLD (volume and stochs).


Anyone else take similar trades?

JY
 
Quote from gpzany:

Hey gooch,

here is the list of stocks with rank from the MSN screener:

ANDE EZPW GPIC ININ JCTCF MED MIKR NTG STRL TGE WBD XING

Has not been culled yet for float etc...

Different from what Stocktables produced, and I understand what you say - with time my FU will be totally different...

but does it matter? I don't think so, as long as my universe of stocks have rank.

Beginners to this method who want to follow the journal to the letter probably should stay with Stocktables as you suggest.

Thanks for your point of view, much appreciated.
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Your welcome,

It is nice to check your work with others. It helps build confidence when you know that your on target with the basics.

gooch87
 
Nice chart Spyder, thanks.

If I may ask a question, in your experience, have you found that the rockets tend to not follow through when the market is under pressure?

This has been the case for me lately, being forced to exit trades on the next morning due to retracements in my positions just to not let profits from the first day's blast off be eroded away...

Not complaining mind you, as taking profits in difficult markets has a nice feeling to it... :D
 
Quote from gpzany:

If I may ask a question, in your experience, have you found that the rockets tend to not follow through when the market is under pressure?
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Sometimes, these rocket trades take off and never look back - for months at a time (see GROW a couple months back). In other instances, the rocket launches skyward, only to return back to earth just as quickly. Whether in rising markets or in the middle of declining markets, I have always felt it best to take some money off the table every so often. For example, on a 1000 share position, I might remove 250 shares after reaching a dollar per share profit, and another 250 shares once price reached a certain percentage profit target (or higher portion of the IT Channel). While certainly, scaling out of the position reduces the overall profits, doing so protects (banks) a portion of the gains in an effort to safeguard against a falling, and rapidly accelerating, downward spiral in price. As always, your mileage may vary.

- Spydertrader
 
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