Spydertrader's Jack Hershey Equities Journal II

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Thanks for the response. I'm working my way through the first Journal but I don't think I understand the finer points of entering the trade. I assume that when entering the trade you want to have the fast and slow Stochastic below 50. But their are two components to the Stochastic the slow K and the slow D. Which one has to be under 50 to enter on the short side? In the chart you provided I am assuming the entry point would be the 2/8 bar or the 2/7 bar if you were only using the fast Stochastic. Is that correct?

I have shorted HANS near $50 and CME in the $480 Area. CME seems to respond really well to the Jack Hershey method and the 30 minute charts. Both were double tops at round numbers where you had a failure to traverse. I have a longer time frame then you do on shorting but I can really see the value of using 30 minute charts for timing, something I wasn't doing before.

How do you post charts as attatchments on this board?
 
Quote from qed:

I assume that when entering the trade you want to have the fast and slow Stochastic below 50. But their are two components to the Stochastic the slow K and the slow D. Which one has to be under 50 to enter on the short side? In the chart you provided I am assuming the entry point would be the 2/8 bar or the 2/7 bar if you were only using the fast Stochastic. Is that correct?
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I used an old chart in the above example. You want to watch the Fast line (%K) of the Fast Stochastics (5,2,3) for an early indication of the trade (long or short).

Quote from qed:

I have shorted HANS near $50 and CME in the $480 Area.
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HANS provided many profitable trades - both from the short and long sides. Nice trades on your part.

Quote from qed:

How do you post charts as attachments on this board?
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You can locate the instructions for posting charts within your post by clicking here.

Quote from rcar1046:

Any insight as to why?
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As I have numerous posts on this subject throughout Journals One and Two, I encourage you to locate the answer to this question by reviewing the Journals.

Good trading to you all.

- Spydertrader
 
Hey spydertrader and anyone else, I have a question about that "unusual volume" spreadsheet that was posted here a while back.

I noticed the "smile" shape of the volume bars for a typical day and I've also noticed this same smile in other intraday charts for specific stocks. I realize that this trading distribution makes sense due to lunch, the timing of various announcements, etc. But how did the author come up with the particular smile shape that's in the spreadsheet? Is it based on a statistical study of NYSE volume or an index or what?

I ask only because it bothers me that I'm using this spreadsheet daily without fully understanding where its analysis comes from.
 
Quote from stevegee58:

I ask only because it bothers me that I'm using this spreadsheet daily without fully understanding where its analysis comes from.
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The Unusual Volume Spreadsheet came from the mind of Jack Hershey as told to a trader in Tucson, Arizona. One can observe that same cantilever shape (smile formation) of volume bars to which you refer on many FRV breakout stocks.

- Spydertrader
 
Quote from stevegee58:

I think you may have meant "catenary" rather than "cantilever", but I know what you mean.

I'm such a smarty-pants it gets me in trouble all the time.:cool:
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I had this sorta' thing in mind. However, it appears the 'cantilever' portion refers to the extensions on either side of the 'smile' portion. Thanks for the clarification.

- Spydertrader
 
I recently received a PM requesting information on a document written by Jack and titled, Three Volumes.doc (or possibly three volumes report.doc). If anyone has a copy of this document, could you please post it to the Journal.

Thank you in advance for your assistance.

- Spydertrader
 
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