2005-05-31, Tuesday - Update
This morning I monitored one list of stocks (12 total equities): Those equities from our daily Hot List and from our Final Universe List finding themselves "In Dry Up."
Dry Up Stocks
BCSI DCAI ELOS EZPW HANS JUPM MCRI MFLX SIGM TASR UBET VDSI
Our system generated ten possible trade signals from the list of 12 Dry Up Stocks when actual volume exceeded calculated "Low Band" Dry Up Volume prior to 11:30 AM.
Dry Up Stocks Triggering Signal
BCSI DCAI ELOS HANS JUPM MCRI SIGM TASR UBET VDSI
Dry Up Stocks NOT Triggering Signal
EZPW MFLX
Of the ten signals generated, five of the equities failed to show price improvement (SIGM, UBET, VDSI, DCAI & JUPM) at time of signal generation, and as a result, we eliminated SIGM, UBET, VDSI, DCAI & JUPM from further consideration.
HANS & MCRI showed price improvement and a positive MACD Histogram. However, neither HANS nor MCRI showed a Stochastic Indicator within desired parameters. As a result, I eliminated HANS & MCRI from further consideration.
Of the ten signals generated we had three which followed through until confirmation: BCSI, ELOS & TASR.
BCSI showed price improvement at time of signal generation (9:47 AM). In addition, both MACD and Stochastics fell within desired parameters. The particulars for BCSI were as follows:
BCSI
Time: 9:47 AM
Price: $19.39
MACD: +.1805
Stoch: 98.0392
Score: 2
FRV: 345,406 shares
As a result, I entered into a long position with respect to BCSI. I placed a long order for 500 shares receiving a fill price of $19.39 USD.
05/31/05 09:47:54 19.39 19.27 19.39 500
My Stop and Target Prices were as follows:
Target Price: $21.33
Entry Price: $19.39
Initial Stop: $18.42
ELOS showed price improvement at time of signal generation (9:47 AM). In addition, both MACD and Stochastics fell within desired parameters. The particulars for ELOS were as follows:
ELOS
Time: 9:47 AM
Price: $32.32
MACD: +.1308
Stoch: 100.0000
Score: 5
FRV: 270,437 shares
Unfortunately, while attempting to get into a long position with BCSI, I missed the opportunity to trade ELOS. As a result, I failed to enter into a Long Position with respect to ELOS. However, the system did correctly anticipate the price breakout. To those that did take the ELOS trade, excellent work!
TASR showed price improvement at time of signal generation (9:47 AM). In addition, both MACD and Stochastics fell within desired parameters. The particulars for ELOS were as follows:
TASR
Time: 10:23 AM
Price: $11.62
MACD: +..0988
Stoch: 99.9725
Score: 2
FRV: 8,606,347 shares
At the time of signal generation, the TASR print showed 5 trades with shares sizes between 100,000 and 200,000 shares. Seeing these large block trades occurring so closely to actual volume exceeding calculated Dry Up Volume caused me to avoid the trade. As a result, I did not enter into a long position with respect to TASR.
I hope you find the above information useful.
- Spydertrader
