Spydertrader's Jack Hershey Equities Journal

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2005-02-14, Monday - Update

Our system failed to generate any trade signals today as actual volume for our Watch List stocks failed to exceed calculated Dry Up Volume prior to 11:30 AM.

Due to an improved stock price for COGT, we moved our stop price upward today in parallel with the increase in price. As a result, today's high for COGT of $32.98 moves our current stop to $31.46. While our current target price remains $33.49, we may look to exit sooner if volume continues to decline tomorrow.

- Spydertrader
 
Quote from svrz:

When you mention tracking software, are you referring to Quotetracker? If I may ask, what are the alert parameters?
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Yes, I use Quotetracker to monitor the Watch List (and other lists) stocks each day. By creating several different types of lists to monitor, switching between the various lists requires but a few mouse clicks. In addition, the alert function contains various functions useable by part time and full-time traders. I use the volume alert to signal by pop-up and sound when volume reaches a certain threshold (Calculated Dry Up Volume, FRV or Peak), and to signal me into action (if needed). When circumstances prevent me from sitting in front of the computer, I configure quotetracker to email my mobile phone with the alert. When a certain stock finds itself in Dry Up calculated by Multiple definitions, I simply use the DU Volume easiest to reach. In other words, if a stock is in Dry Up Cycle, DU5 and DU10 (but not in DU20), then I use the DU10 value for Dry Up as my alert. For pro-rata data, I use Ross' Automated Dry Up web page using the reverse of the percentage Dry Up column to determine if a breach of 25%, 50% or 75% pro-rata volume has occurred.

After purchasing a stock, I then set a price alert near the stop price - to alert me when actual price comes close to our stop price. I do this in case I step away from the computer for a moment, and while away from the screen, price takes a dramatic turn in the opposite direction. The (rather loud) audio alert provides me enough warning to return and enough time to evaluate my options.

Once I switch data providers, I may use Wealth-Lab Developer (WLD) more frequently to monitor stocks intra-day. I currently use WLD for EOD charting only, and as a result, have not yet had the opportunity to familiarize myself with all WLD has to offer.

Hope that helped.

- Spydertrader
 
BTW, which Intra-day provider are you considering?

I don't know if you are aware, but you can use WL to receive data directly from QT!

So if you are using your broker as a source of data, you may be able to feed that to WL via QT:

http://www.wealth-lab.com/cgi-bin/WealthLab.DLL/kbase?id=26

However the problem could be with backfill:

http://www.wealth-lab.com/cgi-bin/WealthLab.DLL/topic?id=13913

See if you can ask the QT folks if they can be of some help.

If QT is unsuitable, then I would recommend either going with E-Signal or IQFeed. I have QCharts but the reliability is not the best.

OTOH, it has a very intuitive and simpe to use charting program.

Good lukc.
 
Quote from svrz:


I don't know if you are aware, but you can use WL to receive data directly from QT!

If QT is unsuitable, then I would recommend either going with E-Signal or IQFeed. I have QCharts but the reliability is not the best.

OTOH, it has a very intuitive and simple to use charting program.
More...

I tried that gizmo which allows you to import data into Wealth-Lab Developer directly from QuoteTracker, but I didn't like having to leave the chart open in QT for each stock I wanted to track. The process turned out to be more of a pain in the backside, rather than, a simple work around for me. Thanks for posting the links because someone else may benefit from the process.

I had planned to go with iqfeed over Esignal based on the rather large price difference. However, now that both you and Ross have brought up the ease of charting and sorting with Qcharts, I may have to give that a test run before making a final decision. I've thought about trying TC2000, but I recalled Jack saying something about how his equations didn't translate well into newer versions of the software.

- Spydertrader
 
Yes, try the one month trial of QCharts and see how you like it. When you do, compare Q's prices with your broker's. Sometimes the prices tend to be not accurate. However this does not happen too often.

When you subscribe, let's try the WL's realtime scanning ability. For some reason when I tried it, it would miss the triggers. Perhaps it had to do with Q.
 
2005-02-14, Tuesday - Lists

I used RS and EPS Settings of 90 for the following lists

Stocktables.com
Sevens - Ones - Zeros
DTPI - ANTP - CTSH
WLK - WITS - PETD
TRGL - SNDA - VTIV
NNI - WWCA - MDRX
HANS - HLIT - WCC
VPI - ELOS - FLSH
MRVL - MIPS - MT
ADBL - UTHR - CMC
NTAP - LCAV - MEE
TOPT - NGPS

Wealth-Lab Chartscript/Manual
Hotlist

ANTP
NGPS
ELOS
TRGL
TOPT
MIPS
ADBL
SNDA
HANS

Wealth-Lab Data/Yahoo Data
Watch List

GOAM - DU Cycle - DU5 - DU10
PACT - DU Cycle - DU5
ANTP - DU Cycle - DU5
CUTR - DU Cycle
EXM - DU Cycle
TASR - DU Cycle
NGPS - DU Cycle - DU5 - DU10 - DU20
KEYW - DU Cycle
ANGO - DU Cycle
ELOS - DU Cycle - DU5
MFLX - DU Cycle
BCSI - DU Cycle - DU5 - DU10 - DU20
EBKR - DU Cycle - DU5 - DU10
MIPS - DU Cycle
ESMC - DU Cycle - DU5 - DU10 - DU20
HRT - DU Cycle - DU5 - DU10 - DU20
IDSA - DU Cycle
GMAI - DU Cycle
CALM - DU Cycle - DU5
ULBI - DU Cycle

Wealth-Lab Developer Data & Equations/G33M4K Equations
SRVZ Wealth Lab Equations - Dry Up (with G33M4K Score)

ANGO - 4
HLIT - 3

Eyeball
Gallas2 "Keep an Eye on These" Stocks

MIPS (Attached), but don't forget to watch EXM as well.

Yahoo Data/G33M4K Equations
Dry Up Stocks with G33M4K Master List Score of Zero

NGPS
CUTR
KEYW
MFLX
MIPS
ESMC
GMAI
HRT
ULBI

Stocktables Sort/Yahoo Data/G33M4K Equations/
Test Culling Method with Score Hotlist

KEYW 0
MFLX 0
MIPS 0
EXM 1
ISSC 1
ELOS 2
SNDA 2
TOPT 3
BCSI 4

(GOAM, ANTP, NGPS, ANGO, HRT, IDSA, MT, HLIT, TRGL have float outside normal parameters)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=686997>
 

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Quote from svrz:

When you subscribe, let's try the WL's realtime scanning ability. For some reason when I tried it, it would miss the triggers. Perhaps it had to do with Q.
More...

This sounds like an excellent plan. I would very much like to see the realtime scanning feature work with Wealth-Lab Developer.

- Spydertrader
 
2005-02-15, Tuesday - Update

Following Jack's Jokari principle (See Jokari Window), we know with increasing price and decreasing volume we can anticipate a change in trend. Combined with a negative MACD (-.0734) and a low Stochastic Indicator (10.6682), I felt the significantly decreased volume levels on COGT created a signal to sell. As a result, I sold all shares of COGT just before 10:00 AM this morning.

02/15/05 09:57:59 32.37 32.37 32.42 1000

With a purchase price of $30.45, our three day trade yielded $1.92 per share gross profit - a 6% gain.

In addition, the system triggered two signals this morning. The first signal resulting from volume levels on EBKR exceeding 50% pro-rata volume, we ignore. EBKR still trades at volume levels 'too thin' for the current account size. As a result, I take no action regarding EBKR.

The second signal occurred when actual volume on MFLX exceeded the 50% pro-rata volume level. We had price improvement, a positive MACD (+.02773), and The Stochastic Indicator held at very high levels (97.1274). As a result, we enter into a long position with MFLX purchasing 1000 shares.

02/15/05 10:26:52 21.67 21.67 21.67 1000

We set a target price of $23.84 and an initial stop of $20.59 USD. If price continues to improve, we plan to raise our initial stop trailing upward in parallel with increasing price.

EXM failed to trend as anticipated finally breaking through our trendline this morning. The early morning price improvement on EXM indicated (to me at least) a number of traders had also anticipated a breakout off the trendline for EXM and decided to enter early to "catch the train before it left the station." EXM provides yet another example of why we need to follow our trading rules. "Getting in early" before the trading signals occur can cost you profits.

I hope you find the above information helpful.

- Spydertrader
 
2005-02-15, Tuesday - Update

Due to price improvement on MFLX to a high of $23.48, we now have our stop located at the $22.40 price point. If price continues to improve above the day's high, we plan to improve our stop level as well. Should price fall, we hold our stop at this level.

- Spydertrader
 
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