Spydertrader's Jack Hershey Equities Journal II

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Quote from tradingbug:

For those who lost money trading GIVN, I am sorry. The volume really dogged itself after the morning. Just to let you know I got stopped out.

Also, does anybody have a very reliable source for earnings besides MSN and Clearstation. I would like 3 ways to check.
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In addition to the Yahoo Earnings Calendar (linked above in previous post), you might try using these two web sites.

http://www.earnings.com
http://www.zacks.com

Don't fret too much about GIVN. I cannot count the number of times volume evaporated after I made a purchase (See Journal One for numerous examples). These things happen.

- Spydertrader
 
TradingBug-

I've been using a Reuter's Screener to eliminate stocks having a negative EPS.

When I find a candidate for the Final Universe, I double-check its EPS on Yahoo Finance to be sure the reported (Reuters) earnings are indeed positive via a second source (Yahoo).

Hope that helps.

GlenKK
 
GlennKK said:
I've been using a Reuter's Screener to eliminate stocks having a negative EPS.

When I find a candidate for the Final Universe, I double-check its EPS on Yahoo Finance to be sure the reported (Reuters) earnings are indeed positive via a second source (Yahoo).
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GlennKK,

Be careful that you don't cross check with web sites who use the same database. For instance Clearstation seems to use the Reuters database and I think Yahoo used to but I think they have changed. The only way I noticed something different at Yahoo was some time last year or a bit before their industry group classifications changed from the ones Reuters used to something else.

Companies like Reuters are data providers to other companies, so you may think you are cross checking, but you're actually looking at the same data set.

-ace
 
SpyderTrader-

When I ran the Ranking W-L script on my Final Universe, the symbols you removed from your Final Universe were also missing in my scan results. So far.....so good.....

But, the scan also identified IVAC as having failed qualifying rank criteria.

Question 1: Was IVAC in your Final Universe?

In addition to those symbols you identified being in DryUp tonight, my scan results included UEPS.

Question 2: Was UEPS in your Final Universe?

Your still-trying-to-follow-the-Jack Hershey-method student,

GlenKK
 
Ace-

Thanks for the heads up!

My first attempt to code a screen for reuter's StockScreener, contained errors, which, I believe, you were astute enough to catch and subsequently point me in the right direction code wise-thank you again.

One stock, MPWRE, survived my original screen, and SpyderTrader was kind enough to point out to me that the reason he didn't see it survive screening was that MPWRE had negative EPS, and I could see that for myself on Yahoo.

So....Now if I find a new candidate for the Final Universe, I double check its EPS, and Yahoo seems to be a convenient venue to do that.

GlenKK
 
Quote from GlenKK:

Question 1: Was IVAC in your Final Universe?
Question 2: Was UEPS in your Final Universe?
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Currently, neither equity above holds a place in my Final Universe. IVAC might have made its way onto your Final Universe while I spent two weeks on the Florida Beaches at the end of last month, or I simply overlooked it. UEPS currently has a place on the bench waiting for enough days traded under this current symbol (similarly to NTRI).

- Spydertrader
 
Quote from ScottD:
This Journal, and its predecessor, are very interesting threads. On the surface it seems like a rare example of a profitable method fully disclosed on a public form. However, the usual key questions arise: is the success repeatable... is the method transferable to other traders?

Besides Spydertrader (who we see is successful with it) what sort of profitability are the rest of you experiencing. Are you on track, pro rata, to achieve 100% ROI per year, as described last year? Are you roughly breakeven so far...are you losing money with it... Interested in your thoughts. Feel free to send me a PM if you would prefer.

I suspect the group of people actually putting this method to work would benefit from knowing how their fellow practitioners are doing.
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Quote from gooch87:

Hi ScottD,

Year to date, I am break even thanks to NGAS and BOOM.

I made more mistakes than I would like to admit here. Primarily ones that I have cautioned others in this thread to be aware of. Let's just say the market taught me humility. Perhaps some of the folks here have several of the twenties I was tossing around like worthless poker chips:D I kept trying to make something happen with my final universe. I was thinking that if I could capture some of the moves that happen just about everyday by scanning the entire universe, I could increase my money velocity. It increased all right...

I had to get back to basics and the confidence is returning. I have a long way to go before I am profitable like the others in this thread. I can still make more working overtime than I can in the market on a continuous basis...
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Just wanted to say thanks very much to all who have shared their experience and results so far. It's useful to see the range of actual profit performance. Any one else care to share their experiences and results?
 
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