Spydertrader's Jack Hershey Equities Journal II

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It gapped down a little overnight, just broke past closing price on initial DU volume, and seems to be seeing support that was last nights resistance level.

If Stochs get past 14 and the stock continues volume and trends up during the day, would this be a good candidate?

Thanks for your input to my education.
 
Quote from Penfold:

If Stochs get past 14 and the stock continues volume and trends up during the day, would this be a good candidate?
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With respect to ARD, we see some positives and a few negatives when looking at a Daily Chart (attached). In the 'good' column, Stochastics (5,2,3) has continued higher and has breached the 80 level (red circle), and we have a rising MACD Histogram (orange arrow) From the 'not so good' column, we see Stochastics (14,1,3) sitting flat just below the 50% line.

Although price continues to ride the lower upward trend channel line (skinny green line), it has yet to breach the medium term down channel (skinny orange line). Lastly, the LBDU trigger occurred after the 10:30 AM Eastern time frame.

A trader might find it wise to monitor ARD, rather jumping in before price breached the Intermediate Term Down Channel (black arrow). BAsed on the last run up in price, ARD needs 4 days to percolate, before heading higher. Today marks the fourth day after a recent down move in price.

Just my 2 cents, and of course, your mileage may vary.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1058692>

Edit: Above channel lines added to chart prior to today's open. Pink lines represent weekly pivot points.
 

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First of all, thanks to everyone , especially Spydertrader who contributed to the journal.

Can somebody please reply to the below query? Thanks

I used to be able to see the dry up volume information (LBDU etc) under Chartscript commentary when I run Hershey Equites Rank v3.0.1. Whoever, today I am not able to see this information at all. Spydertrader, you recently mentioned that the information is still there, thus did I do something wrong? Could it be that I'm running this while the stock market is open and hence yesterday's data is not available?

Confused
 
Quote from billp:

Spydertrader, you recently mentioned that the information is still there, thus did I do something wrong?
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The Chartscripts do not provide volume levels for equities which fail to maintain their rank. Try running HANS and MSFT through the chartscript and notice the rank number in the upper left hand corner of the price window. HANS should return both a rank and Dry Up Values (bottom of chart), whereas MSFT should not. MSFT currently has no rank.

Let me know if this corrects the problem.

- Spydertrader
 
Quote from 4XIS4U:

I'm still holding MIND... here's what I see... thoughts? comments?
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Certainly, nothing wrong with your chart, and it appears MIND should still head higher. I just didn't understand the price action (run way up and run right back down) over the last two days. As a result, I sold. I felt fortunate to get out with the small profit. I hope MIND continues to head higher for you (but watch out for the quick fall).

- Spydertrader
 
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