Spydertrader's Jack Hershey Equities Journal II

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Spydertrader,

I did read most of the posts and get most of the ideas if not all. Thank you for sharing your journals. I have not really begun to trade it though.

I remembered one of your rules is to buy on the day when the volume reaches 3 times of dry up volume which is a best situation, or some variations of it. But the volume of the last stock you bought was still so low. Or it is just a soft rule. Did I get the idea?

I think buying at the bottom of channel is safer, even without volume break out. But the price moving up will be slow with volume break out, even we don't know when it gona happen. Buying at volume breaking out may have quick apprication, but may have higher risk in case of fake break out.

Happy trading!
-- baifriend



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Quote from baifriend:

I remembered one of your rules is to buy on the day when the volume reaches 3 times of dry up volume which is a best situation, or some variations of it. But the volume of the last stock you bought was still so low. Or it is just a soft rule. Did I get the idea?
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Close. We do want to buy on a day when actual volume reaches FRV levels by EOD. However, I enter into a long position well in advance of this milestone. The rule for entry that I use occurs when actual volume exceeds Calculated Low Band Dry Up Volume by 11:30 AM Eastern Time. Using this criterion, REDF qualified by showing actual volume exceeding Calculated Low Band Dry Up Volume before the 11:30 AM cutoff. After entering into a long position, I then monitor FRV levels. If actual volume does not reach FRV levels by EOD, then I would normally sell my positions rather than hold.

I hope that clarifies the rule for you.

- Spydertrader
 
I am also still in REDF b/c of the same reasons. I saw all of the buy signals line up in the AM so I bought a long position. The volume dried up for the rest of the day, so I should have sold for the small gain before the close, but was away from my computer and didn't get a chance.

I am also still holding LUFK for a 8% unrealized gain. Will sell 1/2 if/when it hits 10% as I like this stock for reasons other than the JH method.
 
Quote from spon:

I am also still in REDF b/c of the same reasons. I saw all of the buy signals line up in the AM so I bought a long position. The volume dried up for the rest of the day, so I should have sold for the small gain before the close, but was away from my computer and didn't get a chance.

I am also still holding LUFK for a 8% unrealized gain. Will sell 1/2 if/when it hits 10% as I like this stock for reasons other than the JH method.
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LUFK was interesting because it was a lagger. MIND and GRP were taking off and I noticed LUFK had the necessary volume without the accompanying price appreciation. It took a few days later before it reached the level of money velocity of MIND and GRP.

I think it would be a great idea if I could monitor these sector leaders and then trade the laggers accordingly.

Just a thought.

I am also still in REDF and looking for a push tomorrow in terms of sequences.
 
Quote from Grob109:

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Thank you , Jack. I appreciate what you have given us through Spyder. I see a little more each day that volume is much more important than I originally thought. I have many days to go yet.

For Monday:

DXPE JMDT REDF SWN

JMDT is a waste of time due to EA buyout at $27/s.

SWN is again above the max float, but I like it anyway. DXPE is a little low in both float and V65. but I like it also.

I bought REDF on Friday and got out as it did not reach FRV for a small loss. Spyder did you buy it early as I did not get as good a price as you did.

Doug
 
Here is my Hotlist for tomorrow.

Do you have the same equities Spydertrader?

BOOM BTUI CTHR CUTR DCAI ENER FORD GMXR GROW HANS IIJI JMDT LMS LUFK NGAS NTRI NWRE REDF TIE TRGL VPHM
 
Quote from dougcs:

Spyder did you buy it early as I did not get as good a price as you did.
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Actually, I made several buys (4 total) in an effort to slowly build a position over time. With only 100 share lots posted on my level II screen, I didn't want to buy everything at once. I started accumulating shares around 12:30 PM and finished around 2:00 PM or so if I recall correctly. Unfortunately, when i went to sell the shares, I screwed up and entered them all at one time.

- Spydertrader
 
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