Spydertrader's Jack Hershey Equities Journal II

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nice day for me today.

sold REDF this morning (too early as it turns out- lol) for a 2% gain and 1/2 my position in LUFK at the 10% Hersey target. i'm going to hold the rest with a really tight trailing stop hoping to hit 60.

what are everyone's thoughts on trading stocks a day AFTER they show up on the dry up scan? for example, VPHM was on my dry up list on Friday but didnt hit FRV and I believe was trending down. when I looked at the chart, I noticed that before most of it's 20% run ups, the volume increased (but not to FRV levels) the day before it actually broke out to FRV levels. so today I left it on my watch list. it hit low bad volume pretty early and was looking very strong so I entered @ 20.12. It ended up surpassing FRV by the end of the day, so I help onto it.

thoughts?
 
Quote from thenewguy:

In and out for even money... so techincally you make a bit on the trade to cover the vig - coms and slippage.

Thanks,

- The New Guy
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I get it now,
thanks
 
Quote from Spydertrader:

Nice Job, gooch87. I hope everyone else followed your lead and held on to experience the gains REDF provided today. Keep up the great work.

- Spydertrader
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Thanks for the encouragement Spydertrader.
 
Yes, wash or push - same thing.

Thanks,

- The New Guy

Quote from mark1:

Did you mean a wash trade?
If I remember correctly, that's how Mr Hershey calls that type of trades.
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Quote from spon:

nice day for me today.

sold REDF this morning (too early as it turns out- lol) for a 2% gain and 1/2 my position in LUFK at the 10% Hersey target. i'm going to hold the rest with a really tight trailing stop hoping to hit 60.

what are everyone's thoughts on trading stocks a day AFTER they show up on the dry up scan? for example, VPHM was on my dry up list on Friday but didnt hit FRV and I believe was trending down. when I looked at the chart, I noticed that before most of it's 20% run ups, the volume increased (but not to FRV levels) the day before it actually broke out to FRV levels. so today I left it on my watch list. it hit low bad volume pretty early and was looking very strong so I entered @ 20.12. It ended up surpassing FRV by the end of the day, so I help onto it.

thoughts?
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You are in a nice place.

As you get to the place of having a nice list and watch it regularly, you do see the "personality" of the equity begin to show.

Your comments are very indicative of this kind of familiarity setting in.

You also are fairly relaxed about the way to make money on a move a stock makes. What I mean is is that you are paying attention to wealth building and you are pulling out your share as is called for.

As we all see REDF got through the quality filter that always is there to help us get and maintain a quality list. It does, however have to compete for the use of our money. If it is not pulling its weight compared to the other constantly appearing opportunities, it does not get a play or a play for very long.

So I think that you are now in a place where your differentiation of the character and personality of these tenured stocks is serving you well and it will get better and better.

We never ever slack off on our work; but we do get to the feeling that we do know what is going on during the process of the markets. This comes from sharing responsibilites appropriately.

Since the market is there and the cycling is running along at about 5% a day for the hot list and held stocks, we do get to see that we are not under any real pressure to carve out the 400% a year or so. The relaxed view is best and it comes as a consequence of just moving on down the road taking what is available as it comes along. To soften the word target, it may be better to think of that channel band or width as a range where its extremes are not often traded for very long but its interior portions certainly offer a very rewarding run.

Its like looking at OHLC and realizing these often used ingredients in stats and stuff are values that occur relatively rarely compared to the attention they receive.

Again it is like being in a very good place and dealing with it in color rather than in just black and white.
 
thanks Jack, your feedback is very much appreciated.

I understand what you are saying regarding softening the targets. it's like the old saying about reading between the lines. most of the action takes place between the extremes and those are the channel waves we want to ride to the top of each cycle. my biggest deficancy is recognizing those waves or, to be more accurate, acting on what I'm seeing at the correct time.

I definitly need a LOT more practice in recognizing and drawing channels. Thanks to everyone here, especially Spyder and Jack, for this tremendous blog. I hope to continue to learn and refine as I've got a long way to go.
 
sold VPHM today for a 1% loss, so I guess I answered my own question. lol.

will probably sell my remaining 1/2 position in LUFK tomorrow morning. currently up 16% and didn't like the little dip this afternoon before closing.

didnt' have anything on my dry up list for today. hope tomorrow bring some more possibilities for us all.
 
I did a search on EliteTrader for "Parabolic stocks" and found this post by Grob109 at:
http://www.elitetrader.com/vb/showthread.php?s=&postid=754596&highlight=parabolic#post754596

Since reading that post, I have explored the numerous related Journals, and I have enjoyed the adventure that has resulted from learning the trading approach that Jack and Spydertrader have chosen to share and teach. The contributions that so many others have made in these Journals has been much appreciated also.

The technical aspects that you both have presented in this trading approach are most essential, and I have found that some of the simplest of comments from Jack have often expanded my perspective in ways that have increased my ability to relax and become more and more successful at extracting 'water' from the stock-market's flowing streams of financial opportunity.

In a world where many still believe in scarcity and create a lack of personal resources, you both are providing a method for others to empower themselves and generate ample income in a work environment that they prefer. The way you are doing this is contributing enormously to the Collective Consciousness's awakening as to how rich and abundant the world we all live in really is. To EliteTrader and the two of you, Thank you for choosing to uplift the potential of All who are involved.

The greatest power carries the lightest touch.
 
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