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Spydertrader's Jack Hershey Equities Journal
- Thread starter Spydertrader
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Attached, please find a small bit of code I wrote for a free charting program called, "Wall Street Analyzer" available at the http://www.Lathuy.com web site. The code automatically scores a universe of stocks (I used my 'final universe list') based on The Jack Hershey PVAD Formula.
In the past, the major snag in creating an automated Scoring Sheet had been Accumulation / Distribution, and how to obtain the data. I have seen Jack explain A/D three different ways:
1. Use BOP (Balance of Power) in TC2000
2. Use Clearstation MACD Histogram (12,26,9), not 5,13,6
3. Acc/Dst from IBD or stocktables.com (numbers or arrows)
"Wall Street Analyzer" has Worden's Balance of Power as one of the many indicators available. As a result, I used BOP for the automated Scoring Code.
My programming skills are 'limited' at BEST. I hoped the attached code might be of some use to those among us with superior programming skills.
- Spydertrader
In the past, the major snag in creating an automated Scoring Sheet had been Accumulation / Distribution, and how to obtain the data. I have seen Jack explain A/D three different ways:
1. Use BOP (Balance of Power) in TC2000
2. Use Clearstation MACD Histogram (12,26,9), not 5,13,6
3. Acc/Dst from IBD or stocktables.com (numbers or arrows)
"Wall Street Analyzer" has Worden's Balance of Power as one of the many indicators available. As a result, I used BOP for the automated Scoring Code.
My programming skills are 'limited' at BEST. I hoped the attached code might be of some use to those among us with superior programming skills.
- Spydertrader
Attachments
Spyder TIA for your efforts. I discovered JH's method in '99 and have made some money using it.
I downloaded 8 months of data on your universe and have one suggestion. I find a lot of your stocks to have quite a bit of overhead resistance. (IDSA, BCSI, CALM, SWIR, UBET and EVCI).
IMHO, stocks should be pulling back in a persistent uptrend in order to qualify. (like JUPM, MSA etc)
Examples from my universe right now are AMMD, AXE, NVR, MRBK, BRC. These are culled from MSN's deluxe screener which allows you to sort on RS, EPS, market cap, volume, shares out etc.
I downloaded 8 months of data on your universe and have one suggestion. I find a lot of your stocks to have quite a bit of overhead resistance. (IDSA, BCSI, CALM, SWIR, UBET and EVCI).
IMHO, stocks should be pulling back in a persistent uptrend in order to qualify. (like JUPM, MSA etc)
Examples from my universe right now are AMMD, AXE, NVR, MRBK, BRC. These are culled from MSN's deluxe screener which allows you to sort on RS, EPS, market cap, volume, shares out etc.
Quote from gallas2:
Spyder TIA for your efforts. I discovered JH's method in '99 and have made some money using it.
I downloaded 8 months of data on your universe and have one suggestion. I find a lot of your stocks to have quite a bit of overhead resistance. (IDSA, BCSI, CALM, SWIR, UBET and EVCI).
IMHO, stocks should be pulling back in a persistent uptrend in order to qualify. (like JUPM, MSA etc)
Examples from my universe right now are AMMD, AXE, NVR, MRBK, BRC. These are culled from MSN's deluxe screener which allows you to sort on RS, EPS, market cap, volume, shares out etc.
Glad to hear you have had success trading Jack Hershey's methods, and I appreciate your contributions. Feel free to post your selection criteria for the MSN Screener.
I agree we would like to find stocks experiencing a recent pullback during an overall upward trend. During a flat or falling market, however, the types of trends you describe may prove difficult to locate. I noticed some of your stocks listed above don't fall into the top 80% or 90% rank of RS and EPS. How do you reconcile that with Jack's Methods?
- Spydertrader
I had to switch the RS and EPS rankings in order to obtain 81 stocks (RS=80, EPS=90). Lowering both EPS and RS to 80 produced a list of 161 stocks - too many.
My Hotlist only contains four stocks - none came from the zero's list. The Watch List contains ten stocks - each in one form of dry up or another (4 methods used to calculate dry up). The following is a list of dry up volume levels observed by number of methods used:
All Four Methods: ANIK EVCI
Three Methods: LIFC
Two Methods: NVEC
One Method: TASR IDSA LSCP JUPM HANS ENWV
To date, I have found NO corrolation between number of dry up methods, type of dry up calculation and improved possibility of breakout occurance. I hope to have the 'best' method of dry up volume calculation by year's end. For an in depth review of dry up calculations, please review the links posted at the beginning of this thread.
Here are the lists:
7 1 0
GDP JUPM CNCT
FAF MRVL DHI
UPL TASR RRGB
CMTL GILD ARO
ALDN COX SNDK
SNDK URBN FMD
DHI STN DRL
CNCT JOSB YHOO
FMD CRDN ANT
ANT JBHT BKS
Hotlist:
TASR ALDN CRDN JUPM
Watch List:
HLEX ANIK JUPM LIFC EVCI ENWV LSCP HANS NVEC
- Spydertrader
My Hotlist only contains four stocks - none came from the zero's list. The Watch List contains ten stocks - each in one form of dry up or another (4 methods used to calculate dry up). The following is a list of dry up volume levels observed by number of methods used:
All Four Methods: ANIK EVCI
Three Methods: LIFC
Two Methods: NVEC
One Method: TASR IDSA LSCP JUPM HANS ENWV
To date, I have found NO corrolation between number of dry up methods, type of dry up calculation and improved possibility of breakout occurance. I hope to have the 'best' method of dry up volume calculation by year's end. For an in depth review of dry up calculations, please review the links posted at the beginning of this thread.
Here are the lists:
7 1 0
GDP JUPM CNCT
FAF MRVL DHI
UPL TASR RRGB
CMTL GILD ARO
ALDN COX SNDK
SNDK URBN FMD
DHI STN DRL
CNCT JOSB YHOO
FMD CRDN ANT
ANT JBHT BKS
Hotlist:
TASR ALDN CRDN JUPM
Watch List:
HLEX ANIK JUPM LIFC EVCI ENWV LSCP HANS NVEC
- Spydertrader
Quote from gallas2:
Spyder TIA for your efforts. I discovered JH's method in '99 and have made some money using it.
I downloaded 8 months of data on your universe and have one suggestion. I find a lot of your stocks to have quite a bit of overhead resistance. (IDSA, BCSI, CALM, SWIR, UBET and EVCI).
IMHO, stocks should be pulling back in a persistent uptrend in order to qualify. (like JUPM, MSA etc)
Examples from my universe right now are AMMD, AXE, NVR, MRBK, BRC. These are culled from MSN's deluxe screener which allows you to sort on RS, EPS, market cap, volume, shares out etc.
gallas2 - just an observation from a newbie, as I am trying to get my hands around the JH methods. I notice that plugging in the examples from your universe to the ChartScript, none meet the criteria of "5 cycles within 6 months from low to peak consisting of 20% or more within 6, 7 or 8 days."
Your stocks are absolutely in strong uptrends, and most have gone through the cycles - they just either took longer than 6, 7, or 8 days, or did not always reach the minimum of 20%.
So, my question is how does this affect the strategy? Have you done any analysis on it?
And - you say you have made some money with JH's method. Can you share any observations or war stories? It seems you have been trading it for 5 years now...
TIA.
Remaining patient while waiting for a trade signal always provides me with a challenge. Frustration while waiting for a set-up or signal to appear can often overwhelm the trader causing irrational decisions - often leading to a loss of capital. Experience has taught me that it is better to do nothing, rather than, to force a trade based on incomplete, or less then optimal, parameters.
For the second day, the system failed to generate a buy signal by 11:00 AM. As a result, we take no trades for the day.
While continuing to monitor GMAI for educational purposes, I see that the MACD and Stochastic turn around observed yesterday afternoon correctly foretold a change in trend. Today, GMAI has continued to improve in price some .50 over yesterday's low. Whether this new trend continues or reverses again back to a declining slope remains to be seen.
The MACD / Stochastic observation leads me to postulate a possible alternative exit strategy for the system. Once a 10% increase in price has been reached, waiting until a MACD and Stochastic reversal occurs to exit, may yield improved profits. I will test this theory on future trades.
Another piece of information you may find useful: Jack Hershey has stated that stocks that exhibit multiple days in "Dry Up" often experience large moves in price open breaking out. Currently, the watchlist contains several stocks that have remained in dry up over several days.
Two Days: NVEC IDSA
Three Days: HANS
Four Days: LIFC
Five Days: LSCP
Nine Days: EVCI
Ten Days: ANIK
GMAI remained in Dry Up for five days before gapping down 13% yesterday.
I hope you find the above information useful.
- Spydertrader
For the second day, the system failed to generate a buy signal by 11:00 AM. As a result, we take no trades for the day.
While continuing to monitor GMAI for educational purposes, I see that the MACD and Stochastic turn around observed yesterday afternoon correctly foretold a change in trend. Today, GMAI has continued to improve in price some .50 over yesterday's low. Whether this new trend continues or reverses again back to a declining slope remains to be seen.
The MACD / Stochastic observation leads me to postulate a possible alternative exit strategy for the system. Once a 10% increase in price has been reached, waiting until a MACD and Stochastic reversal occurs to exit, may yield improved profits. I will test this theory on future trades.
Another piece of information you may find useful: Jack Hershey has stated that stocks that exhibit multiple days in "Dry Up" often experience large moves in price open breaking out. Currently, the watchlist contains several stocks that have remained in dry up over several days.
Two Days: NVEC IDSA
Three Days: HANS
Four Days: LIFC
Five Days: LSCP
Nine Days: EVCI
Ten Days: ANIK
GMAI remained in Dry Up for five days before gapping down 13% yesterday.
I hope you find the above information useful.
- Spydertrader
Spydertrader - why didn't IDSA show up on your watchlist?
Quote from Spydertrader:
Remaining patient while waiting for a trade signal always provides me with a challenge. Frustration while waiting for a set-up or signal to appear can often overwhelm the trader causing irrational decisions - often leading to a loss of capital. Experience has taught me that it is better to do nothing, rather than, to force a trade based on incomplete, or less then optimal, parameters.
For the second day, the system failed to generate a buy signal by 11:00 AM. As a result, we take no trades for the day.
While continuing to monitor GMAI for educational purposes, I see that the MACD and Stochastic turn around observed yesterday afternoon correctly foretold a change in trend. Today, GMAI has continued to improve in price some .50 over yesterday's low. Whether this new trend continues or reverses again back to a declining slope remains to be seen.
The MACD / Stochastic observation leads me to postulate a possible alternative exit strategy for the system. Once a 10% increase in price has been reached, waiting until a MACD and Stochastic reversal occurs to exit, may yield improved profits. I will test this theory on future trades.
Another piece of information you may find useful: Jack Hershey has stated that stocks that exhibit multiple days in "Dry Up" often experience large moves in price open breaking out. Currently, the watchlist contains several stocks that have remained in dry up over several days.
Two Days: NVEC IDSA
Three Days: HANS
Four Days: LIFC
Five Days: LSCP
Nine Days: EVCI
Ten Days: ANIK
GMAI remained in Dry Up for five days before gapping down 13% yesterday.
I hope you find the above information useful.
- Spydertrader
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