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Spydertrader's Jack Hershey Equities Journal
- Thread starter Spydertrader
- Start date
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2005-07-14, Thursday - Lists
Hershey Wealth-Lab Chartscript Culling Methodology
Hershey Chartscript Scans / Qcharts Culling / Stocktables.com Sort
Hot List
CMT FORD MCRI
Dry Up Stocks
EZPW IIG RTSX TASR UBET
Hot List Stocks Scores
CMT - 0
FORD - 0
MCRI - 7
Dry Up Stocks Scores
EZPW - 2
IIG - 0
RTSX - 5
TASR - 0
UBET - 5
Keep an Eye on These Stocks
EZPW (Attached)
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=790167>
Hershey Wealth-Lab Chartscript Culling Methodology
Hershey Chartscript Scans / Qcharts Culling / Stocktables.com Sort
Hot List
CMT FORD MCRI
Dry Up Stocks
EZPW IIG RTSX TASR UBET
Hot List Stocks Scores
CMT - 0
FORD - 0
MCRI - 7
Dry Up Stocks Scores
EZPW - 2
IIG - 0
RTSX - 5
TASR - 0
UBET - 5
Keep an Eye on These Stocks
EZPW (Attached)
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=790167>
Attachments
Quote from Spydertrader:
Right click on any chart and click on Select Indicators from the menu. You will want to choose Volume, MACD and Slow Stochastics from the Available Lower Indicators List. Click the large black arrow pointing to the right to move them to the Selected Lower Indictors window Once you select these three indicators, you see a small Edit button to the right of each. Click it. For MACD, you want EM1=5, EMA2=13 & Smooth=6. For Slow Stochastics, you want %K=14, %D=3 %K Slow=1. Click Apply, then O.K. Now that you have the correct settings, you'll want to save this arrangement as your default chart. Again, right click on the chart, and select Save Chart Template and Reset All. Make sure to save these settings as your default template.
Hope that helped.
- Spydertrader
Spydertrader, Thanks a lot for your detailed information!
I found that the intraday chart may relay on the data retrived into my computer, so the Qtracker has to be running all day along otherwise no correct chart will be drawn, is it right?
For instance, I added your new dry up picks this evening, and intraday chart will tell "not enough data collected". but MACD and stochastic is calculated based on historical bars, since we use 30 mintues bars, to me it means that we need to have at least 14*30 minutes last day's data in order to have a correct value for slow stochastic (14, 1, 3) for the next day's first tick, and at least 13* 30 mintues data to have a correct value for MACD (5, 13, 6) for the next day's first tick.
If intraday chart relies on so much retrieved data in my own computer, does not retrieve the data instantly from broker, I would rather use the historical chart which is available from right click. However historical chart does not seem to provide the options to change parameters for MACD and stochastics,
Am i right about all these?
Thanks a lot !!!
Jim.ny
Spidey,
In the wealth-lab script Hershey Equities Rank v. 2.0.4:
is the ranking the same as that with which I would come up using the assessment sheet?
When I have this ranking, what do I do? Is lower or higher better?
Also, who is Jack Hershey? Do you have any background info on him?
Basic questions, I know. However, I'm still in the infantile stages.
-K
In the wealth-lab script Hershey Equities Rank v. 2.0.4:
is the ranking the same as that with which I would come up using the assessment sheet?
When I have this ranking, what do I do? Is lower or higher better?
Also, who is Jack Hershey? Do you have any background info on him?
Basic questions, I know. However, I'm still in the infantile stages.
-K
Quote from jim.ny:
Am i right about all these?
I'm assuming your data provider contains 'backfill' data. If so, you want to click the Options menu at the top of the toolbar and select Data Source / Proxy Settings Choose the Backfill Tab. Make sure you have correctly selected your brokerage datasource here as well. Click O.K. Now, choose the Portfolio menu and select Backfill All Symbols. Your charts should then contain all available data. The unregistered version of Quotetracker permits 2 days worth of data. Registering the program allows for more days of backfill.
Hope that helped.
- Spydertrader
Quote from SwingOutOn5:
In the wealth-lab script Hershey Equities Rank v. 2.0.4:
is the ranking the same as that with which I would come up using the assessment sheet?
They will be very close. The Hershey Chartscripts simply save time. Imagine having to complete 30 assessment sheets each night, and the time it would take you.
Quote from SwingOutOn5:
When I have this ranking, what do I do? Is lower or higher better?
Higher is better. Ranked stocks have achieved our minimum requirement of a 20% price increase in 6 to 8 days occurring a minimum of five times in the last six months. Stocks which do not have a rank, we ignore. We only trade ranked stocks. Jack suggested using rank as a "tie breaker" among stocks he monitored. Jack recommended trading the higher ranked stock when the system triggered multiple signals at the same time.
Quote from SwingOutOn5:
Also, who is Jack Hershey? Do you have any background info on him?
Jack Hershey first began posting on USENET misc.invest.stocks, misc.invest.futures and misc.invest.technical in the latter part of 1999. He shared his Equities Trading Method on USENET, MSN and here on Elitetrader.com (as well as other locations). He fist developed his approach in response to a challenge presented to him by one of his University professors. A current resident of Arizona, Jack continues to post on Elitetrader.com under the current handle Grob109. The links I provided in the first few posts of this Journal contain plenty of information and a litany of material for you to read both supporting and denouncing Jack and his methods.
Quote from SwingOutOn5:
Basic questions, I know. However, I'm still in the infantile stages.
We all started this journey in the exact same fashion as you. Once you read through the many posts compiled here, you'll develop a significantly greater understanding.
Good Luck to you.
- Spydertrader
ugh - i think i need someone to hold my hand - lol.
Alright, stocktables parameters gave me 67 stocks. Filtered using Score Scan which only gave me 0's and 7's. No 1's. Scanned using the Dry-up script, nothing.
Then used the Ranking script. Every stock returned a rank of 0. What does this mean? These are the stocks I came up with:
0's
BEBE CDIS CNXS GEHL GLW GRP GSIC LUB MDRX MTH MW NR PNRG SJT WCG XTO
7's
BDMS CALC CCRT CEL DNR GES ILMN KNDL NTGR PMTC RECN SQM TGE UCL VASC VPHM
btw, nothing is in DU - is this typical?
thanks
Spidey, I hope this is the last time you have to do this. If I follow through w/ this "Beginner's Guide," it will be....
Alright, stocktables parameters gave me 67 stocks. Filtered using Score Scan which only gave me 0's and 7's. No 1's. Scanned using the Dry-up script, nothing.
Then used the Ranking script. Every stock returned a rank of 0. What does this mean? These are the stocks I came up with:
0's
BEBE CDIS CNXS GEHL GLW GRP GSIC LUB MDRX MTH MW NR PNRG SJT WCG XTO
7's
BDMS CALC CCRT CEL DNR GES ILMN KNDL NTGR PMTC RECN SQM TGE UCL VASC VPHM
btw, nothing is in DU - is this typical?
thanks
Spidey, I hope this is the last time you have to do this. If I follow through w/ this "Beginner's Guide," it will be....
2005-07-14, Thursday - 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 IIG RTSX TASR UBET
Our system generated 4 possible trade signal 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 RTSX TASR
Dry Up Stocks NOT Triggering Signal
UBET
TASR DID show price improvement ($10.38) at time of signal generation (9:50 AM). In addition, MACD Histogram showed a positive return (+.0367). However, The Stochastic Indicator fell below desired levels (57.8912). As a result, I took no action with respect to entering into a long position with TASR.
RTSX did NOT show price improvement ($27.50) at time of signal generation (10:05 AM). In addition, MACD Histogram showed a negative return (-.1311). Also, The Stochastic Indicator fell below desired levels (10.5311). As a result, I took no action with respect to entering into a long position with RTSX.
EZPW did NOT show price improvement ($10.83) at time of signal generation (10:30 AM). In addition, MACD Histogram showed a negative return (-.0917). Also, The Stochastic Indicator fell below desired levels (22.6784). As a result, I took no action with respect to entering into a long position with EZPW.
IIG did NOT show price improvement ($10.80) at time of signal generation (11:22 AM). In addition, MACD Histogram showed a negative return (-.0591). Also, The Stochastic Indicator fell below desired levels (0.0000). As a result, I took no action with respect to entering into a long position with IIG.
- Spydertrader
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 IIG RTSX TASR UBET
Our system generated 4 possible trade signal 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 RTSX TASR
Dry Up Stocks NOT Triggering Signal
UBET
TASR DID show price improvement ($10.38) at time of signal generation (9:50 AM). In addition, MACD Histogram showed a positive return (+.0367). However, The Stochastic Indicator fell below desired levels (57.8912). As a result, I took no action with respect to entering into a long position with TASR.
RTSX did NOT show price improvement ($27.50) at time of signal generation (10:05 AM). In addition, MACD Histogram showed a negative return (-.1311). Also, The Stochastic Indicator fell below desired levels (10.5311). As a result, I took no action with respect to entering into a long position with RTSX.
EZPW did NOT show price improvement ($10.83) at time of signal generation (10:30 AM). In addition, MACD Histogram showed a negative return (-.0917). Also, The Stochastic Indicator fell below desired levels (22.6784). As a result, I took no action with respect to entering into a long position with EZPW.
IIG did NOT show price improvement ($10.80) at time of signal generation (11:22 AM). In addition, MACD Histogram showed a negative return (-.0591). Also, The Stochastic Indicator fell below desired levels (0.0000). As a result, I took no action with respect to entering into a long position with IIG.
- Spydertrader
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