Quote from gooch87:
Here is an example of my evening prep for a long trade tomorrow. (I still don't short) I will be looking for dryup volume and preferably .22 before 10:30 with positive price improvement over price on the close of 10-18. I will be looking to protect profit when price goes beyond approx. $11.10 or so. What do you think? Does it sound like a plan?
I have liked GIGM since Sunday keeping an eye on it all this week - just in case it decided to run. While GIGM hasn't broken from its current downtrend quite yet, it looks to have already created another point three - only this time in an uptrend. As you have pointed out, you need to wait until price breaks through the current downtrending channel, or, if entering prior to such an event, remain extraordinarily cautious. When trading these non-dominant traverses, I always prefer to reduce size in an effort to mitigate my risk.
Quote from nhynes57:
Could you please post your current Final Universe List so I can use it as a reference point to get started.
ALJ ANDE ANEN BTUI CBEY CMED COGO CTRN DTLK DXPE EZPW FTEK GIGM GMXR GROW IAAC IIIN ININ JOBS MGPI MIKR NEU OMNI RACK SMSI TIE TWPG TXCO XING
Currently, FTEK IIIN, RACK and TXCO find themselves without rank.
Quote from cipherscribe:
Can someone please explain volume second derivatives? I am having some trouble reading the code in Wealth-Lab. From memory, I have seen instances when the volume second derivative increases independently of whether the volume is increasing or decreasing. My textbook understanding is that it should be representative of the acceleration of volume, which does not look to be the case in the case of DTLK. Here we see volume increasing at a faster rate, but volume second derivatives decreasing. I need someone to dumb it down for meâ¦
Think of Second derivatives as your family automobile. The zero line marks the point where your car remains stationary. The further away from zero you see the lines, the faster your car goes. However, just as your car has the ability to move forward, as well as in reverse, so too, do the second derivatives provide both speed and direction. In the case of DTLK, volume began to accelerate (down) a few days before price accelerated (down). Jack calls these vector models (and not scalar) because the second derivatives show both speed and direction.
Quote from palinuro:
I have been resisting asking questions as I'm still going through the original journal and other material.
But are you referring here to a WealthLab scan, or something you do intraday via QCharts?
QCharts uses Unusual Volume for Intraday measurements. You can locate a similar metric by using Vol % in Quotetracker. Jack provides a more detailed explanation on Unusual volume sorting in several of his camtasia videos. R/R provides a nice explanation above, but you shouldn't worry too much if you have yet to run across the UV usage yet in your reading. Better to continue to build a strong foundation until you reach the point in time when the discussion on UV begins (in Journal Two).
I hope you all find the above information useful.
- Spydertrader
