Spydertrader's Jack Hershey Equities Journal

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2005-06-14, Tuesday - Update

None of our Dry Up Stocks showed actual volume exceeding calculated FRV levels by EOD. As a result, we take no action with respect to these equities.

- Spydertrader
 
Quote from george_s:

What is the time period covered by your last journal?
More...

I submitted my initial post for this Journal at 05:49 PM on 09-25-04. I have had no other Journals prior to this.

- Spydertrader
 
2005-06-15, Wednesday - Lists

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

Hot List

FORD MCRI XXIA

Dry Up Stocks

EXM EZPW HANS JUPM TASR USG

Hot List Stocks Scores

FORD - 0
MCRI - 7
XXIA - 7

Dry Up Stocks Scores

EXM - 5
EZPW - 4
HANS - 5
JUPM - 2
TASR - 0
USG - 0

Keep an Eye on These Stocks

EZPW (Attached)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=769018>
 

Attachments

Quote from Spydertrader:

I submitted my initial post for this Journal at 05:49 PM on 09-25-04. I have had no other Journals prior to this.

- Spydertrader
More...


Spy- I meant to ask what time period was covered by your
last journal results spreadsheet that posted on page 214,
06-10-05 at 11:01PM. Sorry for the lack of clarity in my original post. :)

George
 
Quote from george_s:

Spy- I meant to ask what time period was covered by your
last journal results spreadsheet that posted on page 214,
06-10-05 at 11:01 PM. Sorry for the lack of clarity in my original post. :)
More...

I apologize for misunderstanding. The most recent results posted on the date you mention above contain each trade made since I began the Journal. The first trade occurred some 2 weeks after beginning the Journal. The final trade included in the results sheet occurred last Friday.

- Spydertrader
 
2005-06-15, Wednesday - Update

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

EXM EZPW HANS JUPM TASR USG

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

Dry Up Stocks Triggering Signal

HANS JUPM TASR

Dry Up Stocks NOT Triggering Signal

EXM EXPW USG

TASR did not show price improvement at time of signal generation (10:32 AM). In addition, MACD Histogram showed a negative return (-.0569). Also, The Stochastic Indicator failed to achieve desired levels (46.3481).

HANS also failed to show price improvement at time of signal generation (10:52 AM). The MACD Histogram showed a positive return (+.0535). However, once again, The Stochastic Indicator failed to achieve desired levels (71.9101).

As a result, we eliminate both TASR & HANS from further consideration and take no action with respect to trading these equities.

JUPM did show price improvement at time of signal generation (9:49 AM). In addition, both MACD (+.0868) and The Stochastic Indicator (83.3912) fell within desired parameters. As a result, I entered into a long position with 1500 shares of JUPM receiving a fill price of $18.40 USD.

06/15/05 09:50:55 18.40 18.39 18.40 1500

The particulars for JUPM at time of signal generation are as follows:

JUPM

Time: 9:49 AM
Price: $18.40
MACD: +.0868
Stoch: 83.3912
Score: 2
FRV: 609,489 shares

- Spydertrader
 
2005-06-15, Wednesday - JUPM Update

Unfortunately, it appears we have experienced another False (Failed) Break Out (FBO) with respect to JUPM. Price on JUPM continued to fall throughout the day triggering our initial day 2% stop. As a result, I sold all shares of JUPM at the $18.03 price point. This single day trade resulted in a loss of $555 USD or 2% of the price of JUPM at entry. This loss represents the second time we have had two consecutive losses since the Journal began.

- Spydertrader
 
2005-06-15, Wednesday - JUPM Update

Actual volume for JUPM fell short of reaching FRV by EOD. Although our stop caused us to exit earlier in the day, we would not have held overnight. See attached chart.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=769605>
 

Attachments

I did not play this one. Observing its recent history, it appears the stock has developed something of a pattern of tanking in the latter part of the day, sometimes severely. You would think traders would learn and this pattern would change, but it keeps repeating itself. It's almost embarassing. (What I wouldn't give to know who enters these on-the-open orders. I don't care what the best traders do, I want to know what the worst do wrong.)

It was so early in the day I figured if the breakout was real the thing was going to go through a consolidation and backfilling phase, and end up still giving me proper indicators by 10:30-11:00am, which it did not.
 
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