Spydertrader's Jack Hershey Equities Journal II

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Dammit. I got a good signal on MTEX this morning. But the problem is that once I got my order set up (figuring out position size, initial stop, etc) the price had moved up $0.10. I didn't want to chase it, so I waited at my initial entry and it kept moving up. So I moved the order up a little, hoping for a dip to fill me there. But it kept moving up. I finally got disgusted and cancelled the order entirely.

If I'd have chased it, I would have had a good ride up from wherever I entered. But I still feel that chasing is a bad habit to get into.

Arg!
 
Quote from bandit77:

NWRE didn't show up on my scans this weekend. Can you tell me if you got it through the methodology listed at the end of the last journal? Thanks.
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The NWRE trade did not result from the Dry Up Scans. Rather, I looked at NWRE as a continuation of the 'Bruno R' set up described earlier in Journal Two. We had the fast Stochastic (5,2,3) rising above the 50 line and overshooting the 80 level. Now, I hope to see the slow stochastics (14,1,3) head above 80 as well. Jack describes this set up in his latest video (Parts B, C & D to be uploaded this evening). The $24.90 USD price point represents a 20% run from the last low 6 days ago. If price encounters some resistance at this point, I plan to sell. Otherwise, I expect to hold NWRE for a few days.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1064361>
 

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Quote from Spydertrader:

What length do you use for your volume average?

- Spydertrader
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If you are referring to the subplot titled, "JackGaussianVPCT" I use a 65 day average. To be clear, this subgraph shows the volume of the intraday bar divided by the 65 day average volume for that particular intraday bar.

To smooth the second derivitives, I use Tillitson's T3 algorithm with a 6 bar period and "V" factor = 0.7. I use the close for the d2Price/dt2 and the volume ratio mentioned above for the second derivitive of volume.

Couple of today's second derivitive trades:
REDF and HANS, charts attached.

At the time I write this, HANS is up 0.9% and REDF is up about 7%.

Doug
 

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Quote from Spydertrader:

The NWRE trade did not result from the Dry Up Scans. Rather, I looked at NWRE as a continuation of the 'Bruno R' set up described earlier in Journal Two. We had the fast Stochastic (5,2,3) rising above the 50 line and overshooting the 80 level. Now, I hope to see the slow stochastics (14,1,3) head above 80 as well. Jack describes this set up in his latest video (Parts B, C & D to be uploaded this evening). The $24.90 USD price point represents a 20% run from the last low 6 days ago. If price encounters some resistance at this point, I plan to sell. Otherwise, I expect to hold NWRE for a few days.

- Spydertrader
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Got it, Thank you Spyder.
 
MTEX was a good signal, I got in at 19.50... I did end up chasing it 10 cents :) It didn't hit FRV, so I will pay close attention tomorrow morning.

Sold all but 200 shares of CKCM, gonna hold into earnings just for giggles tomorrow.

Cheers
 
A followup on my 2nd derivitive trades today:

HANS closed for 1% loss
TIE closed for 1.2% gain
FAST closed for 0.4% loss

REDF open at +7.2%
FTEK open at +1.8%
MERX open and even.

Doug
 
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