Spydertrader's Jack Hershey Equities Journal

[makosgu]

Quote from Spydertrader:

UBET also triggered a 'buy signal this morning when actual volume exceeded calculated Dry Up Volume.

Price: $3.00
...

Is there any hazard price for which an equity ought not be considered? I recall in some thread that equities in the $20 to $40 price range are preferred unless they're tenured. How did this equity become tenured? Is there a hotlist duration interval that enables a stock to achieve tenure?

G33M4K the Newb.

 

[nwbprop]

Quote from makosgu:

Is there any hazard price for which an equity ought not be considered? I recall in some thread that equities in the $20 to $40 price range are preferred unless they're tenured. How did this equity become tenured? Is there a hotlist duration interval that enables a stock to achieve tenure?

G33M4K the Newb.

I think Jack liked stocks above $10 unless it was tenured. This may be a tenured stock. Nonetheless, I like his channels and buy besides the low price.

 

[svrz]

Quote from Spydertrader:

UBET also triggered a 'buy signal this morning when actual volume exceeded calculated Dry Up Volume.

Price: $3.00
MACD: .0124
Stoch: 83.6667

10/13/04 10:37:37 3.00 3.00 3.00 2800

We have correct Volume, Price Improvement, MACD and Stochastics all in agreement. As a result, we take the trade. One note of caution: if FRV does not materialize, I will exit based on a MACD crossover prior to end of day.

- Spydertrader

Spydertrader

First thank you immensely for sharing your experiences with us. This is an outstanding thread.

If I may ask, according to the WL script, the DU volume is 57,131 (this is using QCharts as a data source). The highest volume today on the 30 min chart was 49,155. Obviously according to my data, DU was not exceeded. Did you by any chance use a different method in calculating the DU? Otherwise, this simply may be a data source issue.

Thanks again and best wishes.

 

[Spydertrader]

Quote from nwbprop:

I think Jack liked stocks above $10 unless it was tenured. This may be a tenured stock. Nonetheless, I like his channels and buy besides the low price.

Yes, UBET resides on my List of Tenured Stocks. I have traded UBET in the past making more than 10%, and as a result, the low price is not a concern. In addition, UBET has had a place on the Final Universe List for the past six months.

On another note, it appears as though odd prints keep occurring with this stock today:

10/13/04 13:24:51 3.00 3.00 3.03 73291
10/13/04 13:28:15 3.00 3.00 3.03 -72091

The third such error today. Weird. Unusual to have so many order entry errors - if that is indeed the reason behind the misprints.

- Spydertrader

 

[Spydertrader]

Quote from svrz:

Spydertrader

First thank you immensely for sharing your experiences with us. This is an outstanding thread.

If I may ask, according to the WL script, the DU volume is 57,131 (this is using QCharts as a data source). The highest volume today on the 30 min chart was 49,155. Obviously according to my data, DU was not exceeded. Did you by any chance use a different method in calculating the DU? Otherwise, this simply may be a data source issue.

Thanks again and best wishes.

Thank-you for your kind words. Hopefully, the journal can facilitate the learning process for all of us. Already, I have improved my methods thanks to the contributions of others in this thread.

I suspect we have a data provider issue. According to my data provider, Volume for UBET at the time of your post: 97,678. The Scottrade 'Free' Data promotion currently provides the data I use. While I use several methods to calculate DU Volume, I used the Chartscript DU calculation for this particular stock today.

Hope that helped.

- Spydertrader

 

[Spydertrader]

Quote from makosgu:

Is there any hazard price for which an equity ought not be considered? I recall in some thread that equities in the $20 to $40 price range are preferred unless they're tenured. How did this equity become tenured? Is there a hotlist duration interval that enables a stock to achieve tenure?

G33M4K the Newb.

Currently, I use a stocktables.com price range for stocks set to $10.00 - $50.00 USD. This range came directly from Jack Hershey posted to his Hershey equities Method Thread. I define 'Tenured Stocks' as those that I have successfully traded in the past - for a profit. UBET received 'Tenured Stock' status about six months ago and was last traded by me prior to the start of this journal on 2004-09-09.

UBET, and other such tenured stocks remain in the Final Universe List unless or until they lose their 'rank.' The loss of rank being a direct function of failing to generate the minimum number of required cycles in a six month period. Jack Hershey has been known to 'break all the rules' when it comes to his tenured stocks.

Hope that helped.

- Spydertrader

 

[svrz]

Spydertrader

I coded the 7 TC2000 equatios for DU, FRV and Peaking, as described here by David Marshall, in WL:

http://tinyurl.com/54ul6

I don't know how useful they will be to us. In any regard, if you want to take a look at them:

1) Copy the content of each text file to WL Script file and name them as the tile (minus the .txt extension of course

2) Save them to WL's Indicator folder.

3) To run the test script, just copy TestEquations.txt to a WL script file and run it.

I'm sure you already knew how to do all this but I also want to make sure that I don't waste your time.

At first glance, it looks like equation 5 is redundant.

I have done a fair amount of WL programming. If I can assist with this effort in any way, please let me know.

Thanks and take care
svrz@myrealbox.com

 

[Spydertrader]

Quote from svrz:

Spydertrader

I coded the 7 TC2000 equations for DU, FRV and Peaking, as described here by David Marshall, in WL:

http://tinyurl.com/54ul6

Excellent! Many thanks for your hard work. I appreciate you sharing your efforts with those following the thread. Keep up the great work.

- Spydertrader

 

[Spydertrader]

Our rules kept us out ASKJ today - a good thing - considering ASKJ fell nearly a dollar from the open price.

We had to wait nearly the entire day, but we did get some price improvement on UBET near the close. MACD was positive and The Stochastic indicator held at 79.9999 at EOD. Since we received no exit signal, we hold UBET.

Depending on the method of calculation, ASKJ and UBET may or may not have hit FRV levels of volume. Most methods indicate they did. The chart Script at Wealth-Lab indicated they did not, but they came close using that method of calculation.

With low priced stocks such as UBET, I use a 'mental' stop rather than a stop order. Since our stop price is only fifteen cents away from our entry price, we don't want our price point to become a target. I have the sell order queued and ready to go if price goes against me. I just don't have the order sitting out there.

- Spydertrader

 

[Spydertrader]

Sevens Ones Zeros
YHOO URBN CRDN
MTEX NAVR INSP
JUPM HTCH PENN
TRMB TASR CTSH
MRVL GILD CYTC
PENN CCBI BSTE
INSP SIE ECSI
FFIV UTHR FFIV
PMTI LEND PMTI
---- PMTI LEND

Hot List:

TASR
CRDN
NAVR
JUPM
ECSI

Watch List:

TASR - du cycle
HRT - du cycle - du5 - du10
ESMC - du cycle - du5 - du10
NVEC - du cycle - du5
CALM - du cycle
LWAY - du cycle - du5 - du10 - du20
ANIK - du cycle - du5 - du10 - du20
SWIR - du cycle - du5 - du10 - du20
TRMM - du cycle
ALDN - du cycle - du5 - du10
HANS - du cycle - du5 - du10
EVCI - du cycle - du5
GMAI - du cycle - du5
LIFC - du cycle
NAVR - du cycle - du5
HLEX - du cycle

(HRT, NVEC & LWAY have floats outside normal parameters)