Spydertrader's Jack Hershey Equities Journal

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2005-06-06, Monday - Update

I apologize for the tardiness of my post. Last day of school today, and I had to perform my duties as chauffeur during the afternoon.

This morning I monitored one list of stocks (6 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 MFLX SIGM TASR USG

Our system generated one possible trade signal from the list of 6 Dry Up Stocks when actual volume exceeded calculated "Low Band" Dry Up Volume prior to 11:30 AM.

Dry Up Stocks Triggering Signal

JUPM

Dry Up Stocks NOT Triggering Signal

EZPW MFLX SIGM TASR USG

JUPM showed price improvement at time of signal generation (9:38 AM). In addition, both MACD and Stochastics fell within desired parameters. The particulars for JUPM were as follows:

JUPM

Time: 9:38 AM
Price: $19.20
MACD: +.1480
Stoch: 99.2424
Score: 7
FRV: 731,944 shares

As a result, I placed a buy limit order with my broker at the $19.20 price point. Unfortunately, price moved too fast, and I did not receive a fill. By time price retreated to the $19.20 price point later in the morning, Stochastic levels had dropped below the 80 level.

- Spydertrader
 
SpyderTrader,

Have you been using limit orders this whole time? I would have thought market orders might serve you better for the JH method.

Did you switch to a limit order because of size or due to rapid price movement?

-ace
 
Quote from acesheet:

Did you switch to a limit order because of size or due to rapid price movement?
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Both. I normally use market orders. However, when rapid changes in price begin to occur, I switch to Limit Orders - especially when trading size. I prefer to chance missing a fill, rather than, allow the market to fill me way outside my anticipated entry point. I no sooner entered my order this morning, and price moved some .18 cents. Had I used a market order on my 2000 share order this morning, I would have been looking at slippage of $360.00 dollars. I did anticipate waiting for a pullback to make another attempt to enter into a long position, but by time JUPM pulled back, The Stochastic levels had dropped below 80. Normally, I have to post congratulatory comments to those traders that did receive a fill and as a result profited greatly. Today, not receiving a fill worked to my advantage. On most other days, despite reducing my slippage costs, it doesn't.

- Spydertrader
 
Quote from acesheet:

I would have thought market orders might serve you better for the JH method.
More...

To clarify, Jack Hershey recommends the use of market orders almost exclusively. In fact, Jack still phones in his orders with his broker.

- Spydertrader
 
2005-06-08, Wednesday - Lists

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

Hot List

FORD MCRI SNDA XXIA

Dry Up Stocks

EZPW MCRI MFLX TASR USG

Hot List Stocks Scores

FORD - 0
MCRI - 0
SNDA - 6
XXIA - 0

Dry Up Stocks Scores

EZPW - 7
MCRI - 0
MFLX - 0
TASR - 0
USG - 2

Keep an Eye on These Stocks

MCRI (Attached)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=764422>
 

Attachments

2005-06-08, Wednesday - 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

EZPW MCRI MFLX TASR USG

Our system generated two possible trade signals from the list of 5 Dry Up Stocks when actual volume exceeded calculated "Low Band" Dry Up Volume prior to 11:30 AM.

Dry Up Stocks Triggering Signal

TASR USG

Dry Up Stocks NOT Triggering Signal

EZPW MCRI MFLX

TASR did not show price improvement at time of signal generation (10:18 AM). As a result, we eliminated TASR from further consideration. In addition, USG did not show price improvement at time of signal generation (11:30 AM), and as a result, we also eliminated USG from further consideration.

- Spydertrader
 
2005-06-09, Thursday - Lists

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

Hot List

FORD MCRI XXIA

Dry Up Stocks

EZPW MCRI MFLX

Hot List Stocks Scores

FORD - 0
MCRI - 7
XXIA - 0

Dry Up Stocks Scores

EZPW - 0
MCRI - 7
MFLX - 0

Keep an Eye on These Stocks

FORD (Attached)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=765196>
 

Attachments

2005-06-09, Thursday - Update

This morning I monitored one list of stocks (3 total equities): Those equities from our daily Hot List and from our Final Universe List finding themselves "In Dry Up."

Dry Up Stocks

EZPW MCRI MFLX

Our system generated one possible trade signal from the list of 3 Dry Up Stocks when actual volume exceeded calculated "Low Band" Dry Up Volume prior to 11:30 AM.

Dry Up Stocks Triggering Signal

MCRI

Dry Up Stocks NOT Triggering Signal

EZPW MFLX

MCRI did show price improvement at time of signal generation (9:50 AM). In addition, both MACD and The Stochastic Indicator fell within desired parameters. As a result, I entered into a long position with 500 shares of MCRI receiving a fill price of $21.25 USD. The particulars for the MCRI signal are as follows:

MCRI

Time: 9:50 AM
Price: $21.32
MACD: +.0973
Stoch: 86.1314
Score: 7
FRV: 294,866 shares

- Spydertrader
 
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