Spydertrader's Jack Hershey Equities Journal II

Status
Not open for further replies.
Did anyone else see GMXR and OMNI hit LBDU this morning? On my charts, the 30 min indicators were in alignment.

It doesn't look like they are on pace to hit FRV by EOD...

spooz
 
I did buy GMXR this morning along with many other oil stocks. I will decide to what to do end of day. Most of the stocks in the group are not in very good shape. UPL and SWN the former leaders are lagging with low RS. GMXR seem to be the shining star for natural gas.
 
Quote from spooz_trader1:

Did anyone else see GMXR and OMNI hit LBDU this morning? On my charts, the 30 min indicators were in alignment.

It doesn't look like they are on pace to hit FRV by EOD...

spooz
More...
I'm in both of them. True, their volume has dried up a bit in both cases.

OMNI looks like it's resting at the bottom of it's short-term channel on low volume so I'm inclined to hold half of my shares if it doesn't hit FRV. GMXR is tougher to call.

The MACD has turned positive and the fast stoch has moved quickly up through 50, but it's hard to tell if it is resuming an uptrend or starting a new sideways channel. I'm moving a tight stop up to below the afternoon consolidation for half of the shares, and may keep some with a wider stop to see where it's going over the next week.
 
This trade falls slightly 'outside the box' ....

I entered into a very small position with RNOW yesterday, and continue to hold it through the weekend. Understand, I jumped in very early on this trade in an effort to test out a theory or two. I expect to either exit for a wash, or hold much longer than the normal 6 to 8 day time frame.

I hold no other positions headed into the weekend.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1253601>
 

Attachments

Quote from spooz_trader1:

Did anyone else see GMXR and OMNI hit LBDU this morning? On my charts, the 30 min indicators were in alignment.

It doesn't look like they are on pace to hit FRV by EOD...

spooz
More...

Hi spooz
I saw that my GIGM purchase wasn't working out so I sold for a '1 medium pizza' loss.:D
I took the GMXR trade just after "Unusual Volume", Stochastics above 80, MACD moving into positive territory plus positive price improvement over yesterday. Still holding through the weekend.
good trading to you,

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1253906"></img>
gooch87
 

Attachments

Quote from candletrader:

Kindly list your current universe...
More...

ALJ ANDE ANEN BITS BTUI CBEY CMED COGO CTRN DTLK DXPE EZPW FTEK GIGM GMXR GROW IAAC ICE IIIN ININ JOBS LQDT MGPI MIKR NEU NVEC OMNI RACK RNOW SIRF SMSI TIE TWPG TXCO XING

The following have no rank ....

CBEY CMED IIIN RNOW TXCO
 
Quote from Spydertrader:

ALJ ANDE ANEN BITS BTUI CBEY CMED COGO CTRN DTLK DXPE EZPW FTEK GIGM GMXR GROW IAAC ICE IIIN ININ JOBS LQDT MGPI MIKR NEU NVEC OMNI RACK RNOW SIRF SMSI TIE TWPG TXCO XING

The following have no rank ....

CBEY CMED IIIN RNOW TXCO
More...

Interesting list... thank you...
 
I was wondering about the dryup volume scan in Wealthlab. When I run the scan on my current Universe it does not currently show CMED as in dryup . And yet when I go throught the stocks one by one using the Equities Chartscript Version 4.1, CMED shows up Green and is clearly in dryup. I have found this to be true on several occasions.

Any ideas why the dryup scan does not pick up some of the ones that are in dryup on the Chartscript Version 4.1?

Thanks!
 
Quote from OpenTrader:

Any ideas why the dryup scan does not pick up some of the ones that are in dryup on the Chartscript Version 4.1?
More...

The Old Dry Up Volume Scan uses a six month time frame to calculate Dry Up Volume. The Hershey Chartscript Version 4.1 uses a Three Month Time Frame for calculating Dry Up volume. Since Jack uses three months in his eyeball calculations, I switched to a three month algorithm in the Chartscripts as well. The last three months provides a more accurate representation of current market dynamics.

- Spydertrader
 
Status
Not open for further replies.
Back
Top