Spydertrader's Jack Hershey Equities Journal II

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An ET search for "MSN screener" through gallas2's posts pointed to this (among others):
http://www.elitetrader.com/vb/showthread.php?s=&postid=595614#post595614

Attachment: sept28th.xls
Quote from Spydertrader:

I believe the IBD web site ranks the EPS and RS values in a similar way that stocktables ranks the equities. However, I do not know the cost involved with an IBD subscription. I imagine IBD also provides some sort of Free Trial. I recall a similar discussion in Journal One with respect to a free source of RS and EPS Rankings, but do not recall where the discussion took place. Gallas2 provided an MSN Screen attached in Journal One. His MSN Deluxe Screen (FREE by the way) approximated the RS and EPS Rankings and came very close to the stocktables.com downloaded lists. Perhaps someone has run across that discussion and can provide a link.

And thank you for your participation in our discussion. I hope you continue to find the information here helpful.

- Spydertrader
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Quote from cwitr329:

Thank you Spydertrader... I need to keep reading, don't have a grasp on the concept as a whole yet. I really appreciate your journal, I know its helping alot of traders right now.
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The basic concept behind the overall methodology is finding stocks that cycle frequently over a certain period of time. A stock that cycles does so by moving up and down with respect to its price and volume levels. Over time, this process repeats over and over again. Monitoring these stocks provides clues as to when another cycle might repeat. We use these clues to anticipate when to place a trade. We base our search first on "High Quality Stocks" from a standpoint of excellence. To locate these most excellent equities we use RS and EPS Rank as criteria for inclusion. The beginning of Journal one describes a methodology which creates certain lists of stocks based on their scores. A stock 'Score' refers to a point on a curve where price finds itself. Think of a piece of driftwood floating in the ocean. Sometimes you see the driftwood located between two cresting waves. Other times, the piece of driftwood floats atop a wave just as the wave crashes onto the sand. If you think of the wave as our price curve, we want to buy when the driftwood finds itself in the trough between two waves, and we want to sell just as (or immediately after) the wave crests (before crashing onto the sand).

Take your time and review Journal One. The market will still be hear when you are ready. There is no rush. Rather than attempting to learn the methodology, try to understand the process as it is being described. When you complete your reading, follow the steps at the end of Journal One to practice your list creation. You might find the process easier to absorb if you aren't trying to make lists at the same time.

Hope that helped.

- Spydertrader
 
i'm long BTUI at 17.35, it actually hit my calculated DU levels within the first 10 minutes or so....but i waited to enter till about 10am to see if it was going to give up those price gains.

it didn't, so i entered.

i have my FRV around 430k, which it looks like it will get to by EOD.
 
Quote from Dantheman:

it appears volume will peak today, if i can make 5% today i'll take it, otherwise i'll sell tomorrow morning
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Nice trade. Glad to see you continuing to experience success.

- Spydertrader
 
thanks, i was really unsure of whether i should enter early on because the cycle was progressing so rapidly (hitting DU almost from the start). i also wasn't sure if it was a gap up type thing (i had to re-load my IB chart) and saw that it actually wasn't a gap up.

i wanted to make sure it wasn't going to be some block trade effect type deal as you and grob have mentioned... where you'd get a volume and price spike and then the thing crumbles.

luckily price held all day and we hit Peak volume. (i think this is a GOOD thing)


i'll be selling tomorrow in the am for that reason AND the ST channel has just about been traversed in 1 day (today).

as an aside,
The IT had been setting up a FTP but i didn't notice it until today with the price break out...though i don't think it would have made any difference in my action sequence.
 
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