Spydertrader's Jack Hershey Equities Journal

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2005-06-01, Wednesday - Update

Because BCSI has an earnings release scheduled for tomorrow, and actual volume failed to show improvement over the previous day, I sold all shares of BCSI receiving a fill price of $19.53 USD. This two day trade yielded a per share profit of .14 per share or $70 USD. In addition, I sold all shares of USG as it appeared highly unlikely actual volume would exceed FRV levels by EOD. I received a fill at the $46.53 USD price point. This one day trade yielded a .23 per share profit or $115 USD. We record both these trades as 'wash' trades for the Journal as both equities failed to fully cycle.

- Spydertrader
 
2005-06-02, Thursday - Lists

Hershey Wealth-Lab Chartscript Culling Methodology
Hershey Chartscript Scans / Qcharts Culling / Stocktables.com Sort

Hot List

DCAI ELOS FORD JUPM MCRI PARL SNDA TRGL USG

Dry Up Stocks

EZPW MCRI SIGM TASR

Hot List Stocks Scores

DCAI - 7
ELOS - 7
FORD - 2
JUPM - 7
MCRI - 0
PARL - 0
SNDA - 7
TRGL - 5
USG - 7

Dry Up Stocks Scores

EZPW - 7
MCRI - 0
SIGM - 0
TASR - 4

Keep an Eye on These Stocks

SIGM (Attached)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=760462>
 

Attachments

2005-06-02, Thursday - Lists

Our system failed to trigger any possible trade signals today as actual volume failed to exceed calculated Dry Up Volume prior to 11:30 AM for our list of Dry Up Stocks. Although actual volume for both TASR and MCRI did exceed calculated Dry Up Volume after our 11:30 AM cutoff, we ignore these signals as they did not fall within our desired parameters.

- Spydertrader
 
2005-06-02, Thursday - Lists

Hershey Wealth-Lab Chartscript Culling Methodology
Hershey Chartscript Scans / Qcharts Culling / Stocktables.com Sort

Hot List

DCAI ELOS FORD IMAX JUPM MCRI PARL SNDA TRGL USG

Dry Up Stocks

EZPW JUPM MCRI MFLX SIGM SNDA TASR USG

Hot List Stocks Scores

DCAI - 7
ELOS - 7
FORD - 2
IMAX - 5
JUPM - 7
MCRI - 0
PARL - 0
SNDA - 7
TRGL - 5
USG - 7

Dry Up Stocks Scores

EZPW - 0
JUPM - 4
MCRI - 1
MFLX - 1
SIGM - 7
SNDA - 0
TASR - 5
USG - 5

Keep an Eye on These Stocks

MCRI (Attached)

The following Stocks have been ADDED to the Final Universe List as of 2005-06-02: IMAX.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=761266>
 

Attachments

2005-06-02, Friday - Lists

The above post should have the heading Friday - Lists. I appreciate alerting me to the typo and allowing me to clarify.

Good Trading Today,

- Spydertrader
 
2005-06-03, Friday - Update

This morning I monitored one list of stocks (8 total equities): Those equities from our daily Hot List and from our Final Universe List finding themselves "In Dry Up."

Dry Up Stocks

EZPW JUPM MCRI MFLX SIGM SNDA TASR USG

Our system generated two possible trade signals from the list of 8 Dry Up Stocks when actual volume exceeded calculated "Low Band" Dry Up Volume prior to 11:30 AM.

Dry Up Stocks Triggering Signal

SNDA MCRI

Dry Up Stocks NOT Triggering Signal

EZPW JUPM MFLX SIGM TASR USG

SNDA showed price improvement at time of signal generation (10:09 AM). In addition, both MACD and Stochastics fell within desired parameters. The particulars for SNDA were as follows:

SNDA

Time: 10:09 AM
Price: $38.20
MACD: +.1406
Stoch: 97.1846
Score: 0
FRV: 1,304,006 shares

As a result, I entered into a long position with respect to SNDA. I placed a long order for 700 shares receiving a fill price of $38.20 USD.

06/01/05 10:12 38.20 38.18 38.20 700

My Stop and Target Prices were as follows:

Target Price: $42.00
Entry Price: $38.20
Initial Stop: $37.30

MCRI showed price improvement at time of signal generation (10:09 AM). In addition, both MACD and Stochastics fell within desired parameters. The particulars for MCRI were as follows:

MCRI

Time: 11:24 AM
Price: $20.31
MACD: +.0586
Stoch: 81.0276
Score: 1
FRV: 275,870 shares

Because this signal occurred so closely to the 11:30 AM deadline, I did not take any action with respect to trading MCRI.

For SNDA, if today's volume fails to exceed FRV volume levels, I plan to sell by EOD.

I hope you find the above information useful.

- Spydertrader
 
Quote from Spydertrader:

2005-06-03, Friday - Update

MCRI showed price improvement at time of signal generation (10:09 AM). In addition, both MACD and Stochastics fell within desired parameters. The particulars for MCRI were as follows:

MCRI

Time: 11:24 AM
Price: $20.31
MACD: +.0586
Stoch: 81.0276
Score: 1
FRV: 275,870 shares

Because this signal occurred so closely to the 11:30 AM deadline, I did not take any action with respect to trading MCRI.
More...

Spydertrader - what I don´t understand is that you are not following strictly your own rules.
You fine tune your actions with intuition.
I think you should follow your own rules without questioning - otherwise you are inviting drama in your trading.

Best regards, hpeganz
 
2005-06-03, Friday - Update

Near the end of the day, price for SNDA fell significantly triggering our stop loss. As a result, I sold all shares of SNDA at the $37.30 price point. In addition, actual volume for SNDA failed to reach FRV levels by EOD. The resulting intraday SNDA trade yielded a loss of $630 USD or -2.3%. Today's intraday SNDA trade presented us with the classic example of "False (failed) Break Out."

Have an enjoyable weekend everybody!


- Spydertrader
 
Quote from hpeganz:

Spydertrader - what I don´t understand is that you are not following strictly your own rules. You fine tune your actions with intuition. I think you should follow your own rules without questioning - otherwise you are inviting drama in your trading.
More...

I apologize for not clearly explaining my actions with respect to MCRI. Thank-you for permitting me the opportunity to clarify.

In order to better understand why it appears I occasionally interject intuition into my trading decisions, we need to go back to the point in time when we changed to using "Dry Up Volume Range" instead of an absolute Dry Up Volume Calculation. Use of this Range increased the number of possible trade signals generated each week, but also, increased the likelihood of False (Failed) Break Out (FBO). During the testing and evaluation process, I noticed the closer to the 11:30 AM timeframe signal generation occurred, the weaker the signal, and as a result, the increased likelihood of FBO occurrence. In addition, most of our strong signals occurred between the 10:00 AM and 11:00 AM timeframes.

Today, I already had one long position (SNDA) underway while the overall market headed lower. The MCRI signal occurred at 11:24 AM. Observing an overall down market, and having a late morning signal occur while already holding one long position, I ignored the signals due to an overall risk assessment that remained negative. Based on the current market environment, I determined taking on a second long position fell outside my comfort zone. As a result, I took no action with respect to MCRI.

Again, I apologize for failing to clearly explain my previous actions in greater detail, and I hope the above information eliminates any confusion.

- Spydertrader
 
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