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Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
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Quote from Spydertrader:
Tuesday Watch List
CKCM CNTF COGO CTHR GMXR IVAC MTEX TRLG
My dry up watchlist is: BNT CNTF MIND SFCC
I'm also adding in MEK and FMD because they just edged above their DU upper bands without much movement. I'll keep an eye out for a volume breakout tomorrow.
I notice that only one of the stocks in your list are in DU. Are you concentrating soley on the 'Bruno R' setups and ignoring the breakouts from dry up? Do you have a scan which flags these as candidates or do you run through your FU each day and eyeball candidates?
I looked at your watch list and not sure I understand why you picked some of them. I'm not going to enter a 'Bruno R' trade for a while, but would like to solidify my understanding.
COGO - volume seems to be increasing, not idling or declining, and both the fast and slow stoch seem to have shot up. Has the trade passed?
CTHR - volume is still light, but the stoch (fast and slow) are well into the 80s. It looks like the price breakout has occured without volume. I stayed out of it because of that today and am still not sure what to make of it.
Thanks,
-f.
Quote from mattjbarlow:
I also took CTHR today at 10:01 @ 11.35 but sold it at 14:36 @ 11.73 when I realized it wouldn't reach FRV today.
You made money - excellent...
The EOD FRV rule is the only thing that I am not currently using. If the stock has volume greater than UBDU, I will hold it overnight...
Cheers.
Quote from foible:
My dry up watchlist is: BNT CNTF MIND SFCC
I have these as 'Dry Up Stocks' as well.
Quote from foible:
I'm also adding in MEK and FMD because they just edged above their DU upper bands without much movement. I'll keep an eye out for a volume breakout tomorrow.
I also added FMD to my list of 'Dry Up' Candidates. I didn't add MEK, but then again, I really do not like AMEX stocks.
Quote from foible:
I notice that only one of the stocks in your list are in DU.
Purely coincidental. I post the stocks on which I plan to place the majority of my focus. Often, none of the stocks I post find themselves 'In Dry Up."
Quote from foible:
Are you concentrating soley on the 'Bruno R' setups and ignoring the breakouts from dry up?
Not at all. I watch the charts throughout the day on the 'Bruno R' Candidates looking for continuation of the current (upturning) trend. With Dry Up stocks, I simply enter an alert into QCharts, and then pull up a chart for that equity once I receive a volume alert. If I do not receive a volume alert, I don't really have anything to monitor.
Quote from foible:
Do you have a scan which flags these as candidates or do you run through your FU each day and eyeball candidates?
I review a Daily Chart for every stock in The Final Universe during the evenings looking for a 'Bruno R' Set up.
Quote from foible:
I looked at your watch list and not sure I understand why you picked some of them. I'm not going to enter a 'Bruno R' trade for a while, but would like to solidify my understanding.
The Equities I posted previously and the reasons for their inclusion:
CKCM - Rising Volume, Rising MACD Histogram, Stochastics (5,2,3) crossed below* the 25 level and continues to show upward divergence.
CNTF - Rising MACD Histogram, Rising Price, Positive Price Derivative, Stochastics (5,2,3) rising and showing positive divergence.
COGO - MACD Histogram Positive, Stochastics (5,2,3) and Stochastics (14,1,3) above the 80 level. Rising Price Derivative
CTHR - Similar to COGO, but a little further along in its cycle.
GMXR - Flat Price, decreasing volume, slight uptrend in Stochastics (5,2,3)
IVAC - Price flat for several days, Positive MACD Histogram, Stochastics (5,2,3) above the 50 level and showing continued positive divergence, Rising (and positive) Price Derivative
MTEX - Price appears to have bottomed at support, Rising MACD Histogram, Slight Uptrend in Stochastics (5,2,3), Increasing Volume on slightly improved price
TRLG - One of the 'Bruno R' test chartscripts under evaluation picked it as a buy
I hope you find the above information useful.
- Spydertrader
*Edit: 'crossed' below in this context means the %K and the %D lines 'crossed over'
Hi Spydertrader,
When I first looked at this chart I considered it a possible buy for tomorrow.
When I didn't see it in your list, I went back to the charts... Allow me to explain and if you wouldn't mind, please correct me if I am wrong with any point in my analysis.
1. We have 2 Failures to traverse the down trend, however; the stock is still within the primary up trend. It may test the bottom of the channel again.
2. Fast stochastic is showing that the current down trend may be coming to an end. Looks like the slope is not a steep as I would like.
3. I am not sure what the Slow Stochastic and MACD are telling, only that the MACD histogram is moving up, and it still has a long way to go. The MACD moving average lines are still going down, not a long sign.
4. The price is getting close to the 50 day simple moving average and closed just above the current trend that I drew in blue. It may test that 50 day and if it fails, it will take more time before this is a long.
In conclusion, it will be on my watch list tomorrow. I would be very skeptical about going long.
Does this sound like a good analysis of the chart?
gooch87
This is a daily chart of TIE
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1080313"></img>
When I first looked at this chart I considered it a possible buy for tomorrow.
When I didn't see it in your list, I went back to the charts... Allow me to explain and if you wouldn't mind, please correct me if I am wrong with any point in my analysis.
1. We have 2 Failures to traverse the down trend, however; the stock is still within the primary up trend. It may test the bottom of the channel again.
2. Fast stochastic is showing that the current down trend may be coming to an end. Looks like the slope is not a steep as I would like.
3. I am not sure what the Slow Stochastic and MACD are telling, only that the MACD histogram is moving up, and it still has a long way to go. The MACD moving average lines are still going down, not a long sign.
4. The price is getting close to the 50 day simple moving average and closed just above the current trend that I drew in blue. It may test that 50 day and if it fails, it will take more time before this is a long.
In conclusion, it will be on my watch list tomorrow. I would be very skeptical about going long.
Does this sound like a good analysis of the chart?
gooch87
This is a daily chart of TIE
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1080313"></img>
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Quote from gooch87:
Does this sound like a good analysis of the chart?
As usual gooch87, you provided a highly detailed and accurate analysis of a Daily Chart for TIE. Three reasons exist regarding why I failed to add TIE to my Watch List for tomorrow.
1. I could not tell from the chart if we see a pause in the shorter term downward trend continuation, or the beginning of a base before price returned to the longer term uptrend.
2. I often watch a stock with a flat Stochastics (14,1,3) when Stochastics (5,2,3) shows upward divergence, but experience has caused me to exercise caution when the Stochastics (14,1,3) points downward (See Attached Chart - notice the similarities to a trade I recently made).
3. I found an equal number of reasons to avoid the trade as I did to take this trade. As a result, I went with the old adage, "When in doubt stay out."
I don't mean to imply that I feel TIE won't see price improvement tomorrow. Rather, I viewed the odds closer to that of a coin flip. As such, I scratched the coin flip off my list.
Good Trading to you.
- Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1080331>
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