Spydertrader's Jack Hershey Equities Journal II

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Quote from Spydertrader:

Tomorrow, I look forward to returning to the world of Equities once again.
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Good to hear. October is coming up fast and that means it's about time to close this journal. But what if Spydertrader doesn't want to start Journal III? I was afraid that you'd moved on to loftier things, leaving us bereft of leadership and gurudom.

The horrors. :)
 
Quote from foible:

Good to hear. October is coming up fast and that means it's about time to close this journal. But what if Spydertrader doesn't want to start Journal III? I was afraid that you'd moved on to loftier things, leaving us bereft of leadership and gurudom.
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I'm no Guru - far from it. I slug it out each day in an effort to make a living just like the rest of you do. I have my share of mistakes - some of them quite public - just like everybody else. To allay your concerns over closing the Journal, I plan to keep Journal Two going until the end of this year. No need to fret over any impending deadlines. :D

- Spydertrader
 
Thanks. Steve and Spyder.

Here is my homework for today. Does anyone mind to correct me if I am wrong?

LQDT should be added to FU

Stocks in DU List are:
ANDE DXPE IFSIA IIIN LMIA MGPI TIE

Chart Review:
Among the above 7 stocks, "IIIN" is near the end of a tri-angle. It could go up-or-down big. MGPI seems in up trend with big room to grow. Trends of other stocks are not that clear to me --- not to trade is better than to trade a wrong one.

BTW, do you trade FU stocks NOT in the "daily scanned DU list", but with good pattern? FRV confirmation is a must, right?
 
Quote from ulmer:

LQDT should be added to FU
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LQDT appears a little light on the 65 day average volume. Quote.com has it listed as 138,000 shares. Since I use a minimum 200,000 shares for a 65-day average volume, I have not added LQDT to my Final Universe at this time.

Good trading to you.

- Spydertrader
 
Quote from ulmer:

Thanks. You are right. Even in Yahoo, LQDT's 3m volume is lower than 200k. I made a mistake.
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The rest of your analysis looked pretty good though, so don't be too hard on yourself. :D

- Spydertrader
 
I have been thinking that it only seems necessary to check for new stocks to add to the final universe once a week since new stocks that rank don't pop up with great regularity. This would save some daily time.

Is there any good reasons why this would be a bad idea?
 
The rankikngs change on a daily basis and I can tell you from experience that when eps come out for a stock the EPS rankings can change in a rather dramatic and material fashion. When a companies eps leaps from 70 to 99 the stock automatically pops up on a lot more investors screens. The best way I have found to check is to create a screen in IBD's custom screen wizard. On the weekend I click all 80 symbols or so in the list. Then every morning I run the screen and see what new stocks pop up. If you don't clear your intenet history than the few new stocks stick out like a sore thumb.
 
Whilst hunting about, I came upon SIM:

Float: 21M
Avg Vol: 319K
EPS: 1.24
Price: $15.65
IBD EPS: 95
IBD RS: 99

Rank: 5
Score: 7

The only negative is that its listed on AMEX... :mad:
 
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