Spydertrader's Jack Hershey Equities Journal II

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Just after Noon Eastern Time, I sold all (600) shares of BTUI when price exited the right side of the channel receiving a fill price of $15.51 USD. I profited approximately .67 per share on this trade. I still hold all shares of GROW still slightly underwater at present.

- Spydertrader

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I sold all (600) GROW shares a few minutes ago receiving a fill at the $15.20 price point. Volume simply didn't follow through after my initial purchase, and I thought it best to simply end the trade. I consider the $60.00 USD profit a Wash Trade.

- Spydertrader

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Always looking for ways to find additional opportunities, I've been trying to learn the methods outlined in the 'Bruno R' post.

My interpretation of those methods leads me to think i should be watching these stocks for tomorrow:

CERS GMXR IIJI LMS NGAS TXCO CKCM

CERS is at the bottom (pt2) of an IT downward channel and has seen decreasing volume over the last 4 or 5 days, however the MACD hasn't turned upward yet and is very negative.

GMXR looks good as the Stoch (5,3,3) has already crossed up and MACD is negative but turning upward. In addition, if this is the start of a 20% run, there should still be around 15% to go

IIJI has been in dryup for seven days, is just crossing as far as Stoch goes, and has been riding the right side of an IT down channel. Looking for a break out of that channel for confirmation as the MACD has also been flatline in negative territory.

LMS looks really good. Sharp upward crossing of the Stoch below 20, decresing volume, upturning, though negative MACD and a recent sharp drop in price with an up day today.

NGAS also looks to be setting up. Stoch crossing up sharply under 20, volume starting to come back after being in dryup for the better part of the last month and definitely has seen a recent fall in price. MACD however doesn't seem to be showing signs of turning up and it set up like this 3 weeks ago without much success.

TXCO Stoch crossing slightly above 30, this may be too high, i'm not sure as my experience with tihs method is limited. In addition the MACD hasn't urned up but is still positive :)

CKCM decreasing volume, Stoch just crossing up below 20, but MACD is diverging downward. IT has however been riding the right side of a an IT down channel for 8 days, I think I would wait for this one to break out of that channel before jumping in.

I would appreciate any feedback on my analysis from others that are using this system.

Thanks,

Rick
 
Spyder, given that BTUI is showing up in the DU Scan for today, would you say that maybe you were ahead of the curve a bit?

Not flaming, just new to the methodology, trying to learn :)

Thanks for all the effort that went into the Journals here on ET!
 
Quote from stevegee58:

CTRN came up as a new addition to the final universe, at least for me. It may already be there for others from a past incarnation...
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I did not have CTRN appear on my lists. QCharts has Float for CTRN at 4.4 million shares. As a result, it sits just outside the desired parameters.

- Spydertrader
 
Dang, sure enough moneycentral agrees with your number and yahoo finance says 5.75M (what my program uses).

This data game is driving me a little nuts.
 
Quote from chapper:

Spyder, given that BTUI is showing up in the DU Scan for today, would you say that maybe you were ahead of the curve a bit?
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According to the 'Bruno R' Post (linked earlier in this thread), we had the correct set up for BTUI. Price did move higher from that point, but then volume didn't continue to drive price higher still. In some of Jack's older posts he discusses how an equity might fall back into Dry Up, and to not worry. Such things sometimes occur. Interestingly, even with a volume decline, price has remained relatively steady over the last two days. Did I get in too early? Maybe, but once price exited the channel, the time had come for me to leave the party.

Quote from chapper:

Not flaming, just new to the methodology, trying to learn :)
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Welcome aboard. Feel free to continue to post your questions. I welcome all contributions from those interested parties willing to put forth an effort.

Quote from chapper:

Thanks for all the effort that went into the Journals here on ET!
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As I have said many times, the real credit belongs to everyone who participated in the discussion and contributed their efforts on a daily basis.

- Spydertrader
 
Quote from stevegee58:

Dang, sure enough moneycentral agrees with your number and yahoo finance says 5.75M (what my program uses).

This data game is driving me a little nuts.
More...

You have to be careful when using Yahoo Finance Data. For some reason, Float numbers have been off at that site since Memorial Day Weekend 2005.

- Spydertrader
 
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