i sometimes use IBD'S highest ranked stocks plus Value Lines stocks ranked for timeliness to trade. in checking IBD'S 50 top ranked stocks this week, i see only two of our universe stocks. i wonder if one could use the IBD stocks to run through the other parameters to see if they would be good trading candidates?
Spydertrader's Jack Hershey Equities Journal II
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I noticed a number of new folks joining lately. Welcome!
I remember how hard it was to just make that first step. All that data piled to the ceiling... where to start.
I started the following compilation to just help myself in the process. I keep updating it as I learn more of the Hershey/SpyderTrader Method. It was meant to be about 10 pages, it has grown to 80 ish!
I had to .pdf it to get it around a megabyte. Hope it helps you guys getting started with the basics.
http://www.mtggraphics.com/temp/BigMooseHersheySummary.pdf
Now could one of the more experienced guys help me with the definition and perhaps a chart of "two pair and a spike"? Been trying to find a definitive example.
Good trading to all.
BigMoose
I remember how hard it was to just make that first step. All that data piled to the ceiling... where to start.
I started the following compilation to just help myself in the process. I keep updating it as I learn more of the Hershey/SpyderTrader Method. It was meant to be about 10 pages, it has grown to 80 ish!
I had to .pdf it to get it around a megabyte. Hope it helps you guys getting started with the basics.http://www.mtggraphics.com/temp/BigMooseHersheySummary.pdf
Now could one of the more experienced guys help me with the definition and perhaps a chart of "two pair and a spike"? Been trying to find a definitive example.
Good trading to all.
BigMoose
Perhaps this can help, I forget which thread I pulled it out of.
Moose, 2-pair and spike are terms Jack uses for sequences on the DOM. I think they are easier to visualize on a 1-tick range chart, see attached. A âpairâ is a single bid-ask pair of prices. The 2-pair sequence occurs when price gyrates back and forth between two price pairs. The BO of the 2pair is the spike.
I'm looking forward to more detailed discussions about these sequences when Spyder starts the futures thread in '07.
BTW, thanks for continuing to keep the compiliation active, it's a very useful doc.
You should feel comfortable in choosing any stocks you want to trade using any methodology you prefer.
- Spydertrader
restan, I ran this week's IBD 100 list through Spydertrader's Heryshey Equity Rank Scan over at Wealth-Lab. Here are the equities with rank (at least 5 20% cycles in last 6 months):
ALY, AXR, BTJ, COGO, GROW, HRT, ICE, MIKR, PCCC, SIM
As you mentioned, a couple of these are in the current Final Universe. Be aware that I DID NOT scan these for average volume, price, and float criteria and you should do so if you plan to include these in your list for possible buys.
Hey CDNPatriot, I'm just getting started myself and have decided to start from scratch and build my own Universe culling from Stocktables.com. I think this will help in my understanding of how equities make it on the list and how they behave throughout their 'listed lives'. Familiarity will build confidence and a stronger foundation. On the other hand, it will likely create fewer trading opportunities initially which I'm okay with. Just my two cents. Either way you decide to go, I'd be happy to share notes with another newbie.
After running the Stocktables scan with Friday's EOD data and applying all the criteria I have the following four equities on my list for this week: GIGM, FTEK, MED, and NVEC. NVEC is in DU.
I direct this to Spydertrader, or to anyone else who has cultivated the knowledge and skills for proficiently drawing channels. I have reached a point of total confusion and frustration - so much so, that I am finding myself wanting to bitch at the ol' lady and kick at the dogs
I have intuitively been trying, however crudely, to previously incorporate some of these same ideas into my trading. Now that I am aware that a structured approach exists, I am intent on seeing it through to the bitter end. The downside to this, tho, means that I need to ask for help, with the possibility of becoming a nuisance to some. Should my inquiries become a distraction, just cry "uncle" and I will cease and desist - maybe.
I understand the importance of the FTT's; given a simple example, such as Mr. Hershey's "replay" charts in the dbPhoenix thread, in which price is behaving nicely within a trend channel but then fails to traverse to the other TL - I know to begin looking for pts 2 and 3, and constructing a new trend channel. However, when I go to a fully annotated chart, such as the one on the bottom of pg. 773 in this thread, as provided by Spydertrader, I quickly lose sight of the forest for the trees. Hopefully, this post will include an attached Hypersnap, in which I have numbered some areas which beg the following questions:
Regarding my #2 area: why is this a FBO and what is its' significance? Is it in relation to the previous FTT seen in my #1 area?
Regarding my #3 area: I view this as a volatility expansion, and would draw a new parallel TL as shown (this discussion disregards any other info as provided in volume/indicators). I do not understand the labeling of your succeeding #2 point - it appears to me that price has traversed perfectly to the Right TL and again reversed. Where you have marked your #3 point and FTT (my #4 area) I would be inclined to mark as #1??
I apologize for these undoubtedly assinine questions - its very hard to even ask an intelligent question when totally lost in the maze. I read in a post that it can be difficult to understand this stuff in hindsight - does that exacerbate my problems?
Thanks to anyone who dares to lead me out of the darkness...
I have intuitively been trying, however crudely, to previously incorporate some of these same ideas into my trading. Now that I am aware that a structured approach exists, I am intent on seeing it through to the bitter end. The downside to this, tho, means that I need to ask for help, with the possibility of becoming a nuisance to some. Should my inquiries become a distraction, just cry "uncle" and I will cease and desist - maybe.
I understand the importance of the FTT's; given a simple example, such as Mr. Hershey's "replay" charts in the dbPhoenix thread, in which price is behaving nicely within a trend channel but then fails to traverse to the other TL - I know to begin looking for pts 2 and 3, and constructing a new trend channel. However, when I go to a fully annotated chart, such as the one on the bottom of pg. 773 in this thread, as provided by Spydertrader, I quickly lose sight of the forest for the trees. Hopefully, this post will include an attached Hypersnap, in which I have numbered some areas which beg the following questions:
Regarding my #2 area: why is this a FBO and what is its' significance? Is it in relation to the previous FTT seen in my #1 area?
Regarding my #3 area: I view this as a volatility expansion, and would draw a new parallel TL as shown (this discussion disregards any other info as provided in volume/indicators). I do not understand the labeling of your succeeding #2 point - it appears to me that price has traversed perfectly to the Right TL and again reversed. Where you have marked your #3 point and FTT (my #4 area) I would be inclined to mark as #1??
I apologize for these undoubtedly assinine questions - its very hard to even ask an intelligent question when totally lost in the maze. I read in a post that it can be difficult to understand this stuff in hindsight - does that exacerbate my problems?
Thanks to anyone who dares to lead me out of the darkness...
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