Spydertrader's Jack Hershey Equities Journal II

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I decided to close out my GIGM position this morning for a 4.7% profit.

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1111191"></img>
 

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Quote from gooch87:

Hi

It looks like a bruno_r buy. Notice the it traversed the downtrend channel. It appears to be starting a new trend, as noted by the stochastics and MACD, VOLUMe and price.

IBD had this stock on their monthly webcast and said it was not a good candidate for your watchlist. It did not hold up well under the current market conditions.

We will have to see. I would be very careful with this one.

good trading to you

gooch87
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Many thanks for the detailed reply, very informative. I guess what I don't understand is the volume element - the stock was not in DU recently, so where is lift-off going to come from?

JY
 
Quote from gooch87:

I decided to close out my GIGM position this morning for a 4.7% profit.

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1111191"></img>
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Nicely done.

Enjoy the weekend everybody.

- Spydertrader
 
I was in GIGM today at 7.19 at out today at 7.91

<a href="http://imageshack.us"><img src="http://img217.imageshack.us/img217/1254/gigmtrade8gs.gif" border="0" width="656" alt="Image Hosted by ImageShack.us" /></a>

Chart below

<a href="http://imageshack.us"><img src="http://img101.imageshack.us/img101/2878/gigm6mm.gif" border="0" width="677" alt="Image Hosted by ImageShack.us" /></a>
 
Quote from mischief:

I was in GIGM today at 7.19 at out today at 7.91
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Once again, nicely done. Nothing like making a quick 10% during the day (or in your case, night :D).

- Spydertrader
 
Quote from justyield:

Many thanks for the detailed reply, very informative. I guess what I don't understand is the volume element - the stock was not in DU recently, so where is lift-off going to come from?

JY
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Please understand that I am still learning here and that I am not recommending anyone follow what I am doing. I hope that if I am doing something wrong then the noobs can learn from my mistakes.
With the bruno_r buys, I am not necessarily looking for a dryup. The lift-off is coming because of the change from distribution to accumulation, and thus a change in trend. The indicators detect this. I have no idea if it will be a profitable lift-off or not, (BO or FBO) just that I want to be in before it does. Incidentally, I ran this one through Spydertraders latest bruno_r chartscript and was pleased to see that it was indeed a buy yesterday. I have been trying to see these without the chartscripts.
Spydertrader, please correct me if I am wrong.
I hope this helps,
gooch87
 
Quote from gooch87:

Please understand that I am still learning here
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Apologies if I came across as critical, I am learning too.

Another thing I don't like about ANDE (apart from the volume) is that the Slow Stoch is stuck in the basement. The setup I am testing (with water-wings attached) requires the Slow Stoch to ideally be above 80 as the fast stoch crosses 50, MACD histogram +ve.

With all these down trending stocks I don't get many entry signals at the moment but they work great up to May ;)

JY
 
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