Spydertrader's Jack Hershey Equities Journal

Status
Not open for further replies.
2005-07-07, Thursday - Lists

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

Hot List

FORD MCRI

Dry Up Stocks

DCAI EZPW IIG MFLX TASR

Hot List Stocks Scores

FORD - 0
MCRI - 7

Dry Up Stocks Scores

DCAI - 6
EZPW - 5
IIG - 5
MFLX - 7
TASR - 5

Keep an Eye on These Stocks

MFLX (Attached)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=784087>
 

Attachments

Spidey, the links to which you referred are mostly broken. I would like to read up on the theory behind this strategy. Where can I go to get the most information about this?
 
 
2005-07-05, 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

DCAI EZPW IIG MFLX TASR

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

EZPW IIG MFLX

Dry Up Stocks NOT Triggering Signal

DCAI TASR

EZPW DID show price improvement ($11.53) at time of signal generation (10:44 AM). In addition, MACD Histogram showed a negative return (-.0202). Also, The Stochastic Indicator fell below desired levels (50.0082).

As a result, I took no action with respect to trading EZPW.

MFLX DID show price improvement ($22.42) at time of signal generation (9:58 AM). In addition, MACD Histogram showed a positive return (+.1000). Also, The Stochastic Indicator fell above desired levels (87.6213).

IIG DID show price improvement ($10.99) at time of signal generation (10:13 AM). In addition, MACD Histogram showed a positive return (+.0987). Also, The Stochastic Indicator fell above desired levels (80.65).

The trade particulars are as follows:

MFLX

Time: 9:58 AM
Price: $19.40
MACD: +.1000
Stoch: 87.6213
Score: 7
FRV: 199,659 shares
Peak: 399,318 shares

07/07/05 9:58 AM 19.40 19.38 19.40 1000

IIG

Time: 10.13 AM
Price: $10.99
MACD: +.0987
Stoch: 80.6500
Score: 5
FRV: 348,660 shares
Peak: 697,320 shares

07/07/05 10:13 AM 10.99 10.99 10.99 2000

After watching price continue to fall on decreasing volume with IIG, I decided to exit as it appeared IIG would turn into another Failed (False) Break Out (FBO). I sold all shares at the $11.01 price point. I plan to note this as a wash trade. This wash trade resulted in a profit of $40.00 USD.

07/07/05 11:22 AM 11.01 11.01 11.05 2000

- Spydertrader
 
Quote from Spydertrader:
2005-07-05, Wednesday - Update
IIG
Time: 10.13 AM
Price: $10.99
MACD: +.0987
Stoch: 80.6500
Score: 5
FRV: 348,660 shares
Peak: 697,320 shares

07/07/05 10:13 AM 10.99 10.99 10.99 2000
More...

Today I used the wealthlab script on the web site and I got diffrent volume values:
ChartScript Commentary
Symbol: IIG
Upper Band = 132,836
Average DU = 88,640
Lower Band = 44,444
FRV = 265,920
Peak = 531,840

I get the signal at 10:07:06 du and bought at 10.75 and get out nicley.

I don´t take the MFLX Trade because the MCAD Histogramm (5,13,6) is negative at signal generation. In this case I use qcharts.

Why do we have this discrepancies????

Best regards, Helmut
 
Quote from hpeganz:

Why do we have this discrepancies????
More...

Differences exist between various data providers for a variety of reasons. Failure to capture the majority of price and volume data, dividend adjustments (or lack there of) and server uptime all can create the opportunity for anomaly.

I suggested using the Web Site Version to double check your numbers. Doing so places you on the same page as everyone else using the Wealth-Lab.com Web Site Version to obtain their numbers. Unless and until everyone using The Jack Hershey Equities Methods to trade decides to use the exact same data provider, we will continue to see discrepancies. However, as long as you remain consistent with using the same data provider, the differences even themselves out over time. By example, a trade I made the other day, you failed to have in dry up. Whereas today, you entered earlier and made a much greater profit than I.

In summary, try not to get bogged down in the minutia. As we have shown since we began using Dry Up Volume Range for our Dry Up Volume Calculations, Dry Up Volume isn't an exact number. Using a range for Dry Up Volume, more often than not, provides superior results. Today, you had a different range than I. That isn't good or bad. It's just different. No need for concern.

Congrats on the excellent trade.

- Spydertrader
 
Quote from Spydertrader:

Differences exist between various data providers for a variety of reasons. Failure to capture the majority of price and volume data, dividend adjustments (or lack there of) and server uptime all can create the opportunity for anomaly.

I suggested using the Web Site Version to double check your numbers. Doing so places you on the same page as everyone else using the Wealth-Lab.com Web Site Version to obtain their numbers. Unless and until everyone using The Jack Hershey Equities Methods to trade decides to use the exact same data provider, we will continue to see discrepancies. However, as long as you remain consistent with using the same data provider, the differences even themselves out over time. By example, a trade I made the other day, you failed to have in dry up. Whereas today, you entered earlier and made a much greater profit than I.

In summary, try not to get bogged down in the minutia. As we have shown since we began using Dry Up Volume Range for our Dry Up Volume Calculations, Dry Up Volume isn't an exact number. Using a range for Dry Up Volume, more often than not, provides superior results. Today, you had a different range than I. That isn't good or bad. It's just different. No need for concern.

Congrats on the excellent trade.

- Spydertrader
More...

Spydertrader
Today I use the web based chartscript - if you used it too then we should have excactly the same volumes ranges!!!???

Concerning the negative MCAD (MFLX) with qcharts - if you used it too then you should have also the negative histogramm in qcharts!!!??
Best regards, Helmut
 
Quote from hpeganz:

Today I use the web based chartscript - if you used it too then we should have excactly the same volumes ranges!!!???
More...

I don't. I use Wealth-Lab Developer. I compare my numbers with others using Wealth-Lab Developer. When something appears out of wack, I then check the Wealth-Lab.com Web Site.

Quote from hpeganz:

Concerning the negative MCAD (MFLX) with qcharts - if you used it too then you should have also the negative histogramm in qcharts!!!??
More...

I didn't. I had MACD Histogram showing Positive results (+.1000).

Due to a recommendation made by Ross some months back, I began to post my lists including which methods / software / datasource I used to create them. I continue this practice in order to indicate where possible discrepancies might arise. Again, concentrate less on getting the exact same results as I post, and continue to focus on following the overall procedures required to trade profitably.

- Spydertrader
 
Status
Not open for further replies.
Back
Top