Spydertrader's Jack Hershey Equities Journal II

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Here is the post trade analysis for my PWEI trade last Friday. I think using the 30 min fractal as an entry tool, I would have stayed out. I was using the daily only. I will be using the 30 min again.

gooch87

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1071283"></img>
 

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The EPS and RS rankings from stocktables.com are used as 2 of the initial conditions for adding to the final universe. Stocks are only removed from the final universe when the lose Hershey rank; i.e. "stocks with 5 cycles of 20% gains or more occurring within 6 months from low to peak within 6, 7 or 8 days"

The accepted practice is to evaluate the final universe list once a month and remove stocks that've lost rank by this definition (called "culling" here).

ATHR is in the final universe and still has Hershey rank, even though its initial stocktables.com RS and EPS ranks aren't that great any more.
 
I tried running the Bruno R scan on wealthlab and it generated ATHR, CNTF, and TWGP. But in Jack's post it says that the stocks must be in "ambient level (Dry Up)", and none of these stocks seem to be in DU.

ATHR DU 603,260 Volume 2,071,965
CNTF DU 190,817 Volume 452,630
TWGP DU 87,281 Volume 367,848

So my question is, am I doing something wrong or is there another method that people are using for finding stocks with the Bruno R setup, such as checking the charts manually?
 
Quote from mattjbarlow:

So my question is, am I doing something wrong or is there another method that people are using for finding stocks with the Bruno R setup, such as checking the charts manually?
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I posted the 'Bruno R' Chartscript in an effort to 'get people in the ballpark' with respect to identifying possible 'Bruno R' set ups. The current 'Bruno R' chartscript only uses a Stochastic Crossover beyond a certain threshold for the entry criteria - ignoring both MACD and volume parameters. In order to develop a 'Bruno R' Watch List, I manually review each Chart (for equities in the Final Universe) nightly looking for the classic 'Bruno R' set up. As gooch87 pointed out, using Jack's "High Noon" clarification for 'Bruno R' (waiting until the Stochastic (5,2,3) rises from the 20 area to the 50 area) provides less risk with respect to entry.

After the completion of several ongoing tests, I plan to update the 'BRuno R' Chartscript by adding additional entry and exit criteria.

- Spydertrader

Edit: For the record, I plan to have all three of the equities (ATHR, CNTF & TWGP) mentioned in your post on my Watch List for Monday.
 
Quote from virgintrader:

Thanks gooch87 for the coaching comments and Spydertrader for the info.

gooch87..no worries; i don't take comments the wrong way as i'm trying to learn this system. i should have clarified that stoch hit 80's using a 5day 15min chart (only free real time streaming chart i have courtesy of my broker) and when it hit DUV of 600K plus before 11:30est, i took the plunge with my initial position. i also thought that (which is not system related) since the general mkts were in the red and this held up well, a bounce should be in the making should the market recover on monday. It also bounced off the 100MVA....(.618 fib line too!).

http://stockcharts.com/h-sc/ui?s=ATHR&p=D&yr=1&mn=0&dy=0&id=p62354758033

i was planning to add more to my position (since i "think" it hit FRV at EOD) but didnt hit the MACD and Stoch requirements so I didn't "double up". I'm still trying to understand FRVs' and the cycle scores and the entry conditions (i.e. for example on entry, it appears that one should be using 30 min charts and not the daily charts)....guess, finally, im tryin to put what i think i learned to test!:D

Again, I appreciate ALL the feedback and thanks in advance gooch87!
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Wow! thanks for all the feedback! My plan for tomorrow:

Assuming it hits DU by 11:30 and price improves (with Stoch@70's and MACD x'ssing zero), I will double my position in ATHR. Current cost at $21.50 with stops at $21.07

ATHR has a rank of 4.94 with a score of 5. DU @600K. Bounced off 100MVA at $20.94; looking to exit at $25.32 (50MVA - assuming it doesn't breach it).

My head is still spinnin from reading the bulk of the first journal!!

Spyder (specially) and all the hard core posters....THANK YOU!!!! I think me lightbulb is starting to light up!

now, if only i can figure out to post those cool charts!

:p
 
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