Spydertrader's Jack Hershey Equities Journal II

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Quote from EllisWyatt:

What is the reasoning for extending this trend line into the afternoon of Nov 30?
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I apologize for not answering sooner. We had power outages here all morning.

When Price returns to the previously vacated channel, I wait to see if price will 'respect' these old boundaries. When price does 'respect' the old channel, I leave the trendline intact. If price ignores the old channel, I delete the extended lines. By drawing in my trend lines (and extending them several days into the future), I have everything in place (in advance) whether needed or not. Doing so often helps me to 'recognize' and FTT a little earlier (or at least I have convinced myself it does :D ).

Good Trading to you.

- Spydertrader
 
johnpinochet WROTE @ 11-30-06 06:27 PM

I had COGO, GMXR, and SMSI on my watchlist for today.

However, I also maintained the final universe in a separate workspace just to observe.

I've been following TXCO for quite a while prior to this so it has held my interest.

While doing my primary stuff with the ZB's today (posted in my journal) I decided to go back and review the volume and price behaviour of the final universe on the 5 min and the 30 min. I saw a lot of very interesting things. You'll see consistent repeatable patterns.

In the process of doing the above, I concentrated on TXCO and noticed that it was dipping in price this AM. I had already reviewed the daily charts on all final unverse stocks and I had already decided that TXCO was on my short list if and when it would appear on the DU scan. It did yesterday, but not today.

To make a long story short, I bought 100 shares at 0925 CST at 13.22 during the dip. I realize this wasn't according to the rules.

My question is, was the correct Hershey trade on TXCO between 1230 and 1300 CST? From what I see, everything lined up: price higher than yesterday, STOCH, MACD, Volume.

Finally, I believe I've read that it is OK to trade a stock that didn't show up on today's watchlist, but is still in the Final Universe? Is this correct?
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Hi johnpinochet -

As a fan of SpyderTrader and his journal I try to check the posts occasionally and saw yours restated above.

While I'm not qualified to give Hersey answers nor am I a follower of TXCO, I checked it vs the way I trade & found that YOUR TRADE WAS an A+ -EXCEPTIONALLY WELL TIMED !!

By my analysis:
#1 - money flow bottomed & turned up @ +/- 11:15am CST
#2 - MACD turned up @ +/- 11:30am CST

Thus, if I were trading TXCO, I'd be entering LONG just after 11:30am CST @ +/- $13.30 (which was also the point at which volume began to spike up.

Congrats on a nice tade !!

Good Trading & Good Health ---> cowpok1027
 
Quote from Ezzy:

Here's what I had for the afternoon ES session. Great volume today, classic "W".
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Lets say you are rolling. You are.

There's this thing that starts coming up... You are in the groove and every once in a while you smoothly, and comfortably take and action that is right and reinforcing.

that keeps happening as you do what you do.

What I see here is you doing stuff that is right on the mark. It makes me "see" you doing it and getting it done.

So you are fully annotated and you and Spyder are really talking turkey.

It begins to come down to looking repeatedly at the routine and finding out that leaning into the market and working at it, gives back to you reinforcement after reinforcement.

It is one safe place to be.

At our office, the same thing is going on and it is interactive among people. This makes it more reinforcing.

Soon enough, it turns out more can be brought into the picture as a further reinforcement. For now just take the trouble to look at your screen in the smooth way that you do and also try to look with care. Things will be happening that you want, and it turns out thay will act as more and broader reinfocement.

This is being more effective in the routine. Then, you will notice more efficiency in extracting whats there.

Very sharp annotations and maintenance.
 
Quote from jack hershey:

. . . Soon enough, it turns out more can be brought into the picture as a further reinforcement. For now just take the trouble to look at your screen in the smooth way that you do and also try to look with care. Things will be happening that you want, and it turns out thay will act as more and broader reinfocement.

This is being more effective in the routine. Then, you will notice more efficiency in extracting whats there.

Very sharp annotations and maintenance.
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Thanks for the encouragement. Much appreciated.
 
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