LOL, yes it helps and now I feel silly. I'll read the first journal thoroughly now instead of skimming it.
Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
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Quote from stevegee58:
LOL, yes it helps and now I feel silly. I'll read the first journal thoroughly now instead of skimming it.
haha I didn't mean to make you feel silly, I know how tempting it is to post for the easy answers. I do think however that you will be surprised at what you'll learn from reading the journals front to back (maybe a few times?) and how much it will help you if you intend to trade this system.
Thanks,
- The New Guy
Excellent advice. Reading through Journal One (while taking notes) and reading it again provides valuable insight.
- Spydertrader
Another system I am practicing using cycles turned up TASR last weekend. TASR is exhibitting perfect price/volume action over the last 6 months or so. I hadn't looked at it in awhile, but the price/volume pattern really struck me in its structural perfection.
Thought it was interesting.
-ace
Thought it was interesting.
-ace
Final Universe Additions
I have added FMCN to the Final Universe this evening. In addition, I have moved NTRI from its spot on 'the bench' into the actual Final Universe.
- Spydertrader
I have added FMCN to the Final Universe this evening. In addition, I have moved NTRI from its spot on 'the bench' into the actual Final Universe.
- Spydertrader
I noticed that BOOM would no longer make it into the final universe list, though fundamentally it looks OK. It doesn't pass the "Hershey Equities Rank SCAN v. 1.0.0" scan.
Also, I noticed that FMCN is reported to have a float of 0 (zero) according to yahoo along with a handful of others from stocktables. How important is float, really?
Also, I noticed that FMCN is reported to have a float of 0 (zero) according to yahoo along with a handful of others from stocktables. How important is float, really?
(i have not looked at BOOM specifically)
however, RANK is virtually number 1 priority. It's arrived at by measuring the repeatability AND the money velocity. It is not some arbitrary number.
without decent ranks, your stocks are by definition non-performers (although they may be fundamentally sound).
WMT is fundamentally sound, but is it a performer?
From the Barron's
"Dictionary of Finance and Investment Terms"
"Float: Number of shares of a corporation that are outstanding and available for trading by the public. A small float means the stock will be more volatile, since a large order to buy or sell shares can influence the stock's price dramatically. A larger float means the stock will be less volatile"
for trading we don't want extreme volatility caused by relatively small share transactions...which is what occurs in light float issues.
we also don't want huge floats...think MSFT or WMT for example because the money velocity is generally nill due to the LACK of volatility.
hence the middle ground of 5-60 million.
however, RANK is virtually number 1 priority. It's arrived at by measuring the repeatability AND the money velocity. It is not some arbitrary number.
without decent ranks, your stocks are by definition non-performers (although they may be fundamentally sound).
WMT is fundamentally sound, but is it a performer?
From the Barron's
"Dictionary of Finance and Investment Terms"
"Float: Number of shares of a corporation that are outstanding and available for trading by the public. A small float means the stock will be more volatile, since a large order to buy or sell shares can influence the stock's price dramatically. A larger float means the stock will be less volatile"
for trading we don't want extreme volatility caused by relatively small share transactions...which is what occurs in light float issues.
we also don't want huge floats...think MSFT or WMT for example because the money velocity is generally nill due to the LACK of volatility.
hence the middle ground of 5-60 million.
OK that makes sense, thanks.
In FMCN's case, the float value of 0 is an anomaly. A cross-check on msn showed a useful float value.
I'll have to double check against MSN on the weird looking float values.
In FMCN's case, the float value of 0 is an anomaly. A cross-check on msn showed a useful float value.
I'll have to double check against MSN on the weird looking float values.
For some unknown reason, Yahoo began experiencing problems with reporting correct Float Values beginning Memorial Day Weekend 2005. Not long after the anomalies began, I subscribed to Qcharts and have used their float values ever since.
- Spydertrader
Edit: Nice move with FMCN today.
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