Spydertrader's Jack Hershey Equities Journal

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2005-08-17, Wednesday - Lists

Hershey Wealth-Lab Chartscript Culling Methodology
Hershey Equities Rank V 3.0.0 / Qcharts Culling / Stocktables.com Sort

Hot List

DPTR FORD NETL NGPS SNHY

Dry Up Stocks

FORD HANS IIG MCRI RADS

Hot List Stocks Scores

DPTR - 2
FORD - 0
NETL - 2
NGPS - 2
SNHY - 2

Dry Up Stocks Scores

FORD - 0
HANS - 2
IIG - 4
MCRI - 0
RADS - 0

Keep an Eye on These Stocks

DCAI (Attached)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=817673>
 

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Dear Spydertrader-

I won't pretend to be a Hersey Disciple but I noticed his/your methods are yielding stocks that are on my watch/trade list.

I use a combo of technical indicators & IBD (FORD is their #1 rated stock).

My questions are simple:

#1. I'm assuming that both HOT LIST & DRY UP stocks are buy lists, iis that correct? If so, what is the difference?

#2. What do the scores mean?

Thanks & Good Luck Trading !!
 
Quote from cowpok1027:

Dear Spydertrader-

I won't pretend to be a Hersey Disciple but I noticed his/your methods are yielding stocks that are on my watch/trade list.

I use a combo of technical indicators & IBD (FORD is their #1 rated stock).

My questions are simple:

#1. I'm assuming that both HOT LIST & DRY UP stocks are buy lists, iis that correct? If so, what is the difference?

#2. What do the scores mean?

Thanks & Good Luck Trading !!
More...

Spyder has elaborated on both of these questions a ton. please read back through the journal...he does enough work as it is.
 
Quote from KevinK:

Spyder has elaborated on both of these questions a ton. please read back through the journal...he does enough work as it is.
More...

Let's all agree and be thankful for the effort Spydertrader and others have made to develop and teach this method. Since this IS Spydertrader's Journal and we are guests we should refrain from responding on Spydertrader's behalf in a NEGATIVE fashion.

If Spydertrader wants to take the time to explain something to a newcomer so much the better for all of us and if he doesn't, then it is his prerogative to tell them to go back and read through the journal.
 
Quote from cowpok1027:

Dear Spydertrader-

I won't pretend to be a Hershey Disciple but I noticed his/your methods are yielding stocks that are on my watch/trade list.

I use a combo of technical indicators & IBD (FORD is their #1 rated stock).

My questions are simple:

#1. I'm assuming that both HOT LIST & DRY UP stocks are buy lists, iis that correct? If so, what is the difference?

#2. What do the scores mean?

Thanks & Good Luck Trading !!
More...

Because the methods used by William O'Neil and Jack Hershey both begin the search for tradeable equities by mandating the use of "High Quality Stocks" as a foundation for reducing risk, we often find similarities between the buy lists of the CANSLIM folks (from IBD newsletters) and Our Daily Watch Lists. Both IBD and Stocktables.com web sites use an RS and EPS rank as a means to sort an initial universe of stocks. Jack has suggested using CANSLIM methods to obtain a universe of stocks in some of his old USENET posts.

Jack Hershey looks to trade Hot Listed stocks and stocks contained in his "Lost of Tenured Stocks." I use the daily creation of the Hot List to find equities to add to the Final Universe List. I look to trade stocks in this list which find themselves in Dry Up. I continue to post both lists in order to allow others several points in the process in which they can check their results with mine.

Scoring refers to a point on a price curve. The current score indicates where in a stocks natural cycle we can locate the current price. Scoring allows for an increased level of anticipation with respect to future price movement. Jack has suggested buying stocks when their score transitions from a 1 or 0 to a score of 7 or 6. The scores themselves result from Jack's PVAD Scoring Matrix using binary values for Price, Volume and Accumulation / Distribution.

While the above explanation touches on the high points of Jack's Methods, a more detailed explanation can be located throughout the Journal itself and within the linked background material posted at the beginning.

May you enjoy continued success with your trading, and thank you for your interest in our Journal.

- Spydertrader
 
2005-08-17, Wednesday - Update

This morning, I monitored one list of stocks (5 total equities): Those equities from our daily Hot List and from our Final Universe List finding themselves "In Dry Up."

Dry Up Stocks

FORD HANS IIG MCRI RADS

Our system generated one possible trade signal from the list of five Dry Up Stocks when actual volume exceeded calculated "Low Band" Dry Up Volume prior to 11:30 AM.

Dry Up Stocks Triggering Signal

FORD

Dry Up Stocks NOT Triggering Signal

HANS IIG MCRI RADS

FORD did not show price improvement ($25.60) at time of signal generation (10:55 AM). In addition, MACD Histogram showed a negative return (-.3834). Also, The Stochastic Indicator fell below desired levels (13.30). As a result, I no action with respect to trading FORD.

- Spydertrader
 
Quote from Reno:

Let's all agree and be thankful for the effort Spydertrader and others have made to develop and teach this method. Since this IS Spydertrader's Journal and we are guests we should refrain from responding on Spydertrader's behalf in a NEGATIVE fashion.

If Spydertrader wants to take the time to explain something to a newcomer so much the better for all of us and if he doesn't, then it is his prerogative to tell them to go back and read through the journal.
More...

I was thinking the same thing. Great Post Reno.

Gooch87
 
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