Spydertrader's Jack Hershey Equities Journal
- Thread starter Spydertrader
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2005-05-12, Thursday - 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
BCSI ELOS JUPM MFLX SYNA
Our system generated three possible trade signals 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
BCSI ELOS JUPM
Dry Up Stocks NOT Triggering Signal
MFLX SYNA
Of the three signals generated, one of the equities failed to show price improvement (BCSI), and as a result, we eliminated EZPW from further consideration.
ELOS did show price improvement and met all criteria at time of signal generation.
Time: 11:07 AM
Price: $28.01
MACD: +.0077
Stoch: 99.9748
Score: 0
FRV: 295,435 shares
As a result, I entered into a long position with respect to ELOS purchasing 1000 shares @ $28.05 USD.
05/12/05 11:13:49 28.05 28.02 28.05 1000
In addition, JUPM showed price improvement at time of signal generation (11:29 AM) and met all criteria at time of signal generation.
Time: 11:29 AM
Price: $16.60
MACD: +.1542
Stoch: 95.3271
Score: 0
FRV: 693,415 shares
As a result, I entered into a long position with respect to JUPM purchasing 1000 shares @ $16.57 USD.
05/12/05 11:30:05 16.57 16.56 16.57 1000
We place our Targets and Stops as follows:
ELOS
Purchase Price: $28.05
Target Price: $30.85
Initial Stop: $26.65
JUPM
Purchase Price: $16.57
Target Price: $18.23
Initial Stop: $15.74
- Spydertrader
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
BCSI ELOS JUPM MFLX SYNA
Our system generated three possible trade signals 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
BCSI ELOS JUPM
Dry Up Stocks NOT Triggering Signal
MFLX SYNA
Of the three signals generated, one of the equities failed to show price improvement (BCSI), and as a result, we eliminated EZPW from further consideration.
ELOS did show price improvement and met all criteria at time of signal generation.
Time: 11:07 AM
Price: $28.01
MACD: +.0077
Stoch: 99.9748
Score: 0
FRV: 295,435 shares
As a result, I entered into a long position with respect to ELOS purchasing 1000 shares @ $28.05 USD.
05/12/05 11:13:49 28.05 28.02 28.05 1000
In addition, JUPM showed price improvement at time of signal generation (11:29 AM) and met all criteria at time of signal generation.
Time: 11:29 AM
Price: $16.60
MACD: +.1542
Stoch: 95.3271
Score: 0
FRV: 693,415 shares
As a result, I entered into a long position with respect to JUPM purchasing 1000 shares @ $16.57 USD.
05/12/05 11:30:05 16.57 16.56 16.57 1000
We place our Targets and Stops as follows:
ELOS
Purchase Price: $28.05
Target Price: $30.85
Initial Stop: $26.65
JUPM
Purchase Price: $16.57
Target Price: $18.23
Initial Stop: $15.74
- Spydertrader
Ooops! Yes, the above post should read ELOS instead of EZPW. I apologize for the confusion. Thank-you for bringing the error to my attention. EZPW should not have been included in any part of the previous post.
- Spydertrader
[LATER EDIT FROM Magna:] At Spydertrader's request I corrected that typo.
when using the MACD and Stoch. to trigger intraday trades.. what time frame do u have set on the chart to read these indicators?
DOnt u have to enter the stock before 11am?
30 minute time frame
When Spydertrader initially started his journal the target time for stocks to exceed dry up was 11am, which is the time that Jack Hershey teaches. However, he (spydertrader) changed the target time recently to 11:30 in order make it easier for people to break down pro-rata volume, in order to catch possible BO's earlier. In other words, 25% at 10am, 50% at 10:30am, 75% at 11:00am and finally 100% DU at 11:30am.
In essence, signal generation at DU is really a form of pro-rata FRV, so we are just trying to catch the BO in the early stages... as long as FRV is reached by the end of the day, we are staying within our rules. Does this increase our risk to much...? That may be a matter of personal opinion.
Personally, I still use the 11am target, but that's only b/c I am on the west coast and have to go to work around 8am pst.
smtrader
Quote from smtrader:
30 minute time frame
When Spydertrader initially started his journal the target time for stocks to exceed dry up was 11am, which is the time that Jack Hershey teaches. However, he (spydertrader) changed the target time recently to 11:30 in order make it easier for people to break down pro-rata volume, in order to catch possible BO's earlier. In other words, 25% at 10am, 50% at 10:30am, 75% at 11:00am and finally 100% DU at 11:30am.
In essence, signal generation at DU is really a form of pro-rata FRV, so we are just trying to catch the BO in the early stages... as long as FRV is reached by the end of the day, we are staying within our rules. Does this increase our risk to much...? That may be a matter of personal opinion.
Personally, I still use the 11am target, but that's only b/c I am on the west coast and have to go to work around 8am pst.
smtrader
How exactly do u derive the DU formula?
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