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Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
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Quote from cnms2:
What setup are you following here?
Looks to me like he tried to grab an early entry on Jack's 'Bruno R' set up. Perhaps, he thought the additional risk (not waiting for confirmation) was offset by the improved reward (getting in his boat before the tide began to rise)? At any rate, if price starts to head south in a hurry, he can always exit for a wash. Once you have FRV and price improvement on a DU stock, you have placed the odds somewhat in your favor. Not a bad calculated risk from where I sit. Certainly riskier than the entrys I use, but not a roll of the dice either.
- Spydertrader
Quote from Traveler:
One thing is unclear to me. At what point do you remove stocks from the Final Universe for not meeting eps, volume or float criteria? For instance REDF has negative eps listed in qcharts. Is it immediately disqualified?
I only remove a stock from the Final Universe for "Failure to Maintain Rank." Once an equity loses its rank, I wait until the end of the month before deleting the symbol from the Final Universe. The only other way I remove an equity from the Final Universe results from a merger or acquisition. Such circumstances have only occurred twice in three years. Float, EPS, Average Volume or Price violations do not result in removal from the Final Universe.
With all due respect, I strongly encourage you to review both Journals in an effort to foster a firm understanding of the information located within the many pages. I recommend further review to you because I feel you may have missed significant portions of the discussion. A thorough review provides the basis for a strong foundation.
I hope you found the above information helpful.
- Spydertrader
Quote from gooch87:
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
I entered into BBC for a 1/3 of my maximum position at 10:32 yesterday @ 15.15. My reasoning was channel location, sitting right at 50 day MA together with a Bruno setup and low band DU trigger and on good pace to reach FRV.
BBC had news of additional contracts awarded. It had a big seller present the rest of the morning and throughout the day. Since price didn't appreciate further, I didn't add and sold the position for a wash at the end of the day for 15.11, since I felt the news was being used to dump the stock.
I hope I'm wrong and that the trade goes extremely well for you. I'll be monitoring it tomorrow and I might jump back in it.
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.
Hi cnms2
I tried to get in when it cleared LBDU this morning but when I looked my order did not get filled because I was kicked from my brokers server. I passed on getting in too late, so I waited until the end of the day to see if it made FRV. Well it did, price closed near enough to my original buy point in addition to all the stuff on the chart I posted earlier. Instead of waiting for more proof that a new trend has started, I am in now. We will see if I am right. I used the Bruno_r setup as a framework , in addition to the normal Journal 1 entry. Dryup, FRV let it go for 10% or stop offset, 4 to 6 days.
I am anticipating the stock will do a mini rally from here, perhaps in one day, before it tests the $14.00 support. I want to catch that.
Thank you WilliamV for the kind words.
Quote from gooch87:
Sold this morning for a wash trade. Things were not moving along fast enough for me.
When I put in my order, it took 30 seconds to fill 100 shares. I am not trading AMEX stocks anymore.
In my experience that is a good fill for AMEX.
I still trade some AMEX stocks but only take a 1/3 normal position.
Doug
I had to leave the house this morning shortly after the open. As a result, I set a trailing stop 50 cents below the last price at the time ($19.52). Even though price dropped significantly during the period I could not monitor the trades, my trailing stop never triggered. I continue to hold all shares of TRLG.
- Spydertrader
- Spydertrader
Spydertrader, how did you decide on this $0.5 stop?
Quote from Spydertrader:
I had to leave the house this morning shortly after the open. As a result, I set a trailing stop 50 cents below the last price at the time ($19.52). Even though price dropped significantly during the period I could not monitor the trades, my trailing stop never triggered. I continue to hold all shares of TRLG.
- Spydertrader
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