Spydertrader's Jack Hershey Equities Journal II

Status
Not open for further replies.
Nice looking trade so far Spyder...Over $19 with good volume. I passed on TRLG this am.
Entered AACC long @ $20.57 volume is light.
Entered BOBE short @ $28.96
Entered ACTL long @ $17.22 sold @ $17.29 feel fortunate
with it hitting new intraday lows.

Good luck, Dan
 
TASR Intraday:

I traded TASR twice today using Jack's PV principals.

Buy when V^P^ and sell Volume declines.

See attached chart.

1st trade
enter 10.76
exit 10.86

2nd trade
enter 10.92
last price 11.00

Doug
 

Attachments

I have attached a daily chart (Chart does not include today's update) for TRLG with slightly different channels drawn in compared to the previous chart posted. I have watched this stock for several days creep higher in Price, but without the aid of any volume. Once I noticed an increase in the rate of volume coming into TRLG this morning, I entered long. I had planned to add on shares as Price moved in my favor, but opportunities to do so failed to materialize until the Final Thirty minutes of the trading Day. I plan to monitor Stochastics (14,1,3) levels over the next few trading days (daily chart) looking for the tell tale signs of 'rocket' continuation.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1051726>
 

Attachments

Hello Spyder,

I am new to this forum and have been following this thread for a few days now.

I have not fully read the first Journal yet but I have the general idea behind the concept of the Hershey method and I plan to continue reading it a bit everyday as time permits.

I am a rank novice at investing and I have been reading and trying to educate myself over the last couple of months only so please excuse any ignorance I may display in the course of my input in this forum (though you have displayed incredible patience and understanding with everybody, and for that you have my upmost admiration).

My question is the following Spyder:
Wouldn't the last 5 bars in your TRLG chart above and the last 5 volume bars constitute a bearish divergence? Notice the 5 price bars are in an uptrend vs the 5 volume bars in a downtrend.

Ozzy
 
Here is a trade I did today and the reasoning behind it. I entered at the end of the day because it came within 1000 shares of reaching FRV which is close enough for me. In addition to that, the Stochastics, MACD look good. The price is at the bottom of the channel and increasing. I picked this stock last night to watch today. On the chart I drew in a support level at $14.00 which will serve as my emergency stop. This would constitute a 7.5% loss on the trade but only 1.6% of my money stream used for this trade, well within my comfort zone.

I am anticipating a $0.50 increase with modest volume so I will be selling at $15.63 for a 3.3% increase. I may adjust that if there is huge volume moving in.

Lets see if my plan works.
If anyone has any suggestions, please feel free to advise me.

Gooch87

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1052074"></img>
 

Attachments

Quote from Oz435:

Wouldn't the last 5 bars in your TRLG chart above and the last 5 volume bars constitute a bearish divergence? Notice the 5 price bars are in an uptrend vs the 5 volume bars in a downtrend.
More...

The chart I previously posted did not contain today's market data. I have attached an updated chart below. Perhaps, you might view the updated chart differently.

When we see increasing price (turquoise arrow) together with increasing volume (pink arrow) we anticipate a continuation of the current trend (See Jack's Jokari Window). Daily stochastics (green arrows) levels fall well above our optimal parameters as well. We also see a rising (and now positive) MACD Histogram (Red Circle). As a result, I anticipate a continuation of the current trend. If I drew the channels lines correctly (and that is one mighty big if), then I would expect price to continue to follow the upward price channel for quite some time. I hope to see an 'intertwining' of the Stochastics (14,1,3) above the 80 level while price continues to head higher (See current daily chart for GROW).

I have monitored TRLG for over a week - watching each day as price crept higher and higher. Not until today did volume increase to the point at which I felt little risk entering into a trade. Another 50 cent price improvement and Price will have moved 20% since the low. A slight increase after that, and we might see some resistance (brown line).

Of course, all of this could simply have resulted from a 'dead cat' bounce. However, until the market provides sufficient evidence to prove the decision wrong (over the coming days), I plan to continue to add shares into an anticipated price break out.

Welcome to the discussion, and I hope you found the above information helpful.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1052100>
 

Attachments

What setup are you following here? I thought that for all the discussed setups the entry requires that the Stochastic (either the fast set or the slow set) to have its slow line getting out of the taped zone 20-80% (variation 25-75%, or 50% for icebergs IV). In your chart both Stochastics barely crossed into the taped zone.
Quote from gooch87:

Here is a trade I did today and the reasoning behind it. I entered at the end of the day because it came within 1000 shares of reaching FRV which is close enough for me. In addition to that, the Stochastics, MACD look good. The price is at the bottom of the channel and increasing. I picked this stock last night to watch today. On the chart I drew in a support level at $14.00 which will serve as my emergency stop. This would constitute a 7.5% loss on the trade but only 1.6% of my money stream used for this trade, well within my comfort zone.

I am anticipating a $0.50 increase with modest volume so I will be selling at $15.63 for a 3.3% increase. I may adjust that if there is huge volume moving in.

Lets see if my plan works.
If anyone has any suggestions, please feel free to advise me.

Gooch87

http://www.elitetrader.com/vb/attachment.php?s=&postid=1052074"
More...
 
Quote from cnms2:

What setup are you following here? I thought that for all the discussed setups the entry requires that the Stochastic (either the fast set or the slow set) to have its slow line getting out of the taped zone 20-80% (variation 25-75%, or 50% for icebergs IV). In your chart both Stochastics barely crossed into the taped zone.
More...

Your MACD should be positive.

Your 14,1,3 should be in a rocket position.

Volume should be above the lower dry up band.

Price should be increasing.

If these four conditions are met you are with the trend. Right now, it appears you might be jumping the gun.

Best Regards
Oddi
 
Status
Not open for further replies.
Back
Top