Spydertrader's Jack Hershey Equities Journal II

jack hershey · Dec 8, 2006

Lots of great commentary on the recent pages.

The "long" post especially. You stayed up late!!!

We agree that we want to have the dynamics of doing this illustrated. Spyder and I are collecting clean camtasias for complete days.

We will be having and entie PhD multiday session to work through all of the onsiderations for SCT and PVT. By using clean real time camtasias interactivelyy and having both camtasia and video recording, a resourse will be made.

From this we will do different kinds of presentations and documentation. The details will emerge as we see how best to respond to the the specific requests being made in various places and contexts.

A few years back there were posted the snapshots of a day unfolding. That ws also dne in the Channels for Building Wealth.
Other aspects of timing trades during the day appear (30 snapshots for one day) appear in 'Putting the pieces together" and there is a camtasia that presents the document also.

The other good news is that there are a pile of camtasias that were done over a couple months on this SCT trading and the corrsponding logs (2 1/2 inches) The narration of the FTT's forming etc is on the camtasias and the logs. Right now they are stacked in a pile here and I just am way behind (and pacing myself) in getting those grouped up for pick up by people.

What Spyder says will, hopefully leap frog ahead and be very helpful.

This is a great segway into 2007. All of the individual and the collective contributions are so valuable because they make a real record of how people go through coming up to speed.

johnpinochet · Dec 8, 2006

Quote from thenewguy:

I had NVEC, SIRF, SMSI and XING. I took positions in NVEC and SIRF due to signals.

Thanks,

TNG

This is what I get:

Scan Results

Scanned WatchList DryUp with ChartScript Hershey Equities Rank v. 3.0.0

5 Stocks Scanned:

ACOR NVEC SIRF SMSI XING
Today's Alerts

(No Alerts)

By the way, I do see the signals for NVEC and SIRF. I would have taken them had I been watching and ready to buy. I wasn't watching at the time nor was I ready to buy as I'm holding two positions from earlier.

thenewguy · Dec 8, 2006

Quote from johnpinochet:

This is what I get:

Scan Results

Scanned WatchList DryUp with ChartScript Hershey Equities Rank v. 3.0.0

5 Stocks Scanned:

ACOR NVEC SIRF SMSI XING
Today's Alerts

(No Alerts)

What volume signals did you have for SIRF and NVEC? SIRF was a bit questionable, but I believe NVEC should have been pretty clear for most calculations of dry up.

Thanks,

TNG

EDIT: Whoops, misunderstood your post. I think it's about the same then, except I don't have ACOR on my list.

REB · Dec 8, 2006

I've read about the "premium' using YM and the DOW (INDU) (pg 36, Channels For Building Wealth), however, I haven't read about this on the forum. I use TradeStation and don't see any indication that this tool is available here. Can anyone give me help on this topic?

johnpinochet · Dec 8, 2006

Quote from thenewguy:

What volume signals did you have for SIRF and NVEC? SIRF was a bit questionable, but I believe NVEC should have been pretty clear for most calculations of dry up.

Thanks,

TNG

I'm not sure about volume signals as all I do is plug the above mentioned stocks into a watch list via wealth builder, and then run the above mentioned script against them. I take it you are doing this manually? Perhaps that is worth a try for me in order to completely learn the system.

Thanks for your help.

thenewguy · Dec 8, 2006

Quote from johnpinochet:

I'm not sure about volume signals as all I do is plug the above mentioned stocks into a watch list via wealth builder, and then run the above mentioned script against them. I take it you are doing this manually? Perhaps that is worth a try for me in order to completely learn the system.

Thanks for your help.

Somewhat manually - I use the wealth-lab website mostly. I just run the Hershey Equities Volume Dry Up Scan v 2.0.0 (three month) and then the individual ranking scan (I changed the name on that one, so I'm not sure what it was originally called). The individual ranking one may be a version or two behind, I'm not sure.

Hope that helps!

Thanks,

TNG

Spydertrader · Dec 8, 2006

Quote from REB:

I've read about the "premium' using YM and the DOW (INDU) (pg 36, Channels For Building Wealth), however, I haven't read about this on the forum. I use TradeStation and don't see any indication that this tool is available here. Can anyone give me help on this topic?

Begin Here. When finished, Go Here. And Lastly, continue here.

- Spydertrader

spooz_trader1 · Dec 8, 2006

Quote from johnpinochet:

This is what I get:

Scan Results

ACOR NVEC SIRF SMSI XING
Today's Alerts

(No Alerts)

John,

I use the Dry Up scan ver 2 and the Equities 4.1 scripts and I did not have ACOR on my watch list for the morning.

I didn't see any of the 4 hit LBDU by 10:30 EST but I was glued to the ES & YM this morning looking for FTT's. I seem to recall that my watch list was "red" when the ES was dropping after the 10:00 am news. With that said, I could have missed a signal. Right now (~13:00), my watch list is green.

spooz

spooz_trader1 · Dec 8, 2006

Quote from jack hershey:
However, I plan to create a few Camtasia videos over the Holidays reviewing the various aspects of the FTT. I plan to use these videos in next year's Journals. In this fashion, a trader can practice 'watching' the FTT form - over and over again.

Quote from jack hershey:
We agree that we want to have the dynamics of doing this illustrated. Spyder and I are collecting clean camtasias for complete days.
...
From this we will do different kinds of presentations and documentation. The details will emerge as we see how best to respond to the the specific requests being made in various places and contexts.
...

This is a great segway into 2007.

Spyder and Jack,

This is great news! Many thanks in advance for your effort: past, present, and future...

Working hard... spooz

ebulldog · Dec 8, 2006

Spyder,

Your generosity with your time continues to amaze me. Thank you. Hopefully I donât abuse it in this long post of questions

.

I continue to be a little confused with how to approach FTTâs and need to clarify some things.

1) If you have a annotated chart of GMXR, would you mind posting it? Iâm flummoxed because my daily has it hitting a point 3 on 11/27 then bouncing up to hit almost perfectly the left trendline on 12/5 and bouncing back down. There does seem to be a failure to retrace forming today/yesterday. Would you trade a failure to retrace in the same way as an FTT?

2) I do see FTTâs on the 30 minute chart â are you trading the 30 minute not the daily? Do you believe that trading FTTâs would be effective on an EOD basis?

3) Having read both logs, all of Jacksâ material I could locate and watched all the videos, it doesnât seem that Jack stresses the FTTâs in the way you are. I need to be able to put this within the context of everything else Iâve read. I get the feeling that your experience has taught you that trading the FTTâs is the concept behind Jackâs teachings. That heâs wrapped all these other tools around that concept in an attempt to teach this to others. I guess Iâm wondering if that is true, or if trading the FTTâs is something that your experience has taught you is successful, but is not necessarily directly in line with Jackâs method â or if Iâm missing the concept.

4) Everything Iâve been trying to do up to now has been looking for the set-up of dry-up at the bottom of a TL, increase in volume as it bounces off and up, and you buy. Trading FTTâs seems almost the opposite. You short when it FAILS to reach the left (upper) line in an up channel. You go long when it FAILS to reach the left (lower) line in a down channel. So rather than going long in a strong up channel, Iâm going long when a down channel might be ending and a new up channel may be forming. Am I somewhat on track here?

Thanks again for your time.