Spydertrader's Jack Hershey Equities Journal II

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Hey spydertrader, I recall that you had TRLG on your "bench" list i.e. waiting to be added to the final universe. What criteria are you waiting for before adding this?

I found this one plus MEK and RACK (not in your final universe last I checked) on my own from stocktables.com and passed the hershey ranking scan as well.

BTW, ENG looked good today. It hit lower band very early and is at FRV 2 hours before close.
 
Quote from stevegee58:

Hey spydertrader, I recall that you had TRLG on your "bench" list i.e. waiting to be added to the final universe. What criteria are you waiting for before adding this? I found this one plus MEK and RACK (not in your final universe last I checked) on my own from stocktables.com and passed the hershey ranking scan as well.
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Within the month TRLG should find its way onto my Final Universe. For me, TRLG still needs a few more days of trading before I'll officially add it to The Final Universe. With respect to MEK and RACK, we probably use different data sources to cull the equities. These variances no doubt resulted in the exclusion of the two equities from my lists. QCharts currently shows MEK with an average daily volume of 189,032 shares - below my required threshold of 200,000 shares needed for inclusion into the Final Universe. In addition, QCharts shows a negative EPS for RACK. Also, MEK trades on the AMEX, and I prefer to avoid trading on that exchange.

Hope that helps explain the differences between our lists of stocks.

- Spydertrader
 
Yes, it helps thanks.

I see now that I actually made an error adding it to my final list due to the volume. My data shows the volume < 200,000 too.

I'm sticking by RACK, though. Looks really good to me from all viewpoints.

*LATER*
I checked RACK's web site for their last earnings report (2-Feb-06) and they reported $0.32 per share earnings.

I'm not beating you up spydertrader, just pointing out a possible data problem with qcharts.
 
Quote from stevegee58:

I'm not beating you up spydertrader, just pointing out a possible data problem with qcharts.
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LOL. No worries there Steve. QCharts uses a yearly EPS number, and I suspect, your data source uses a quarterly number. Therein lies the difference.

- Spydertrader
 
Quote from dougcs:

Anyone catch ENG?

It's moving up nicely, making up for some of my losses earlier this week.

Doug
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Yep, I did and I'm very happy for it (so far).

Even though it's on AMEX!
 
Just curious. Did anyone happen to hold through the drawdown yesterday on SIRF? I missed the trade and noticed a few others found themselves stopped out, but wondered if anybody still had shares during today's run up in price.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=996803>
 

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Quote from Spydertrader:

Just curious. Did anyone happen to hold through the drawdown yesterday on SIRF? I missed the trade and noticed a few others found themselves stopped out, but wondered if anybody still had shares during today's run up in price.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=996803>
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You had to make my bad day (not stock trading, other stuff)worse by pointing this out!

I've been thinking about our fixed stops after reviewing yesterday's SIRF stop out. Seems it may be possible to make the stops a little more dynamic. I like to use more dynamic stops like an ATR stop aka "chandelier stop" but have not worked them into my JH trading.

SIRF is about 3x as volatile as the overall market. One idea is to use the greater: Volatility x overall market move or the 2% fixed stop.

So for SIRF yesterday:

stop = 3*1.1% market decline = 3.3%, instead of 2% fixed.

Doug
 
Quote from dougcs:

You had to make my bad day (not stock trading, other stuff) worse by pointing this out!
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Sorry to pour salt in your offline wounds, but SIRF actually trades even higher than my screen shot (over a dollar higher). However, you do bring up an excellent point with respect to stops. Perhaps, I should bring in Jack's stop offset method more regularly. I have attached a visual rep[representation of Jack's stop offset method on a short trade.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=996818>
 

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