Spydertrader's Jack Hershey Equities Journal

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Another quick question...

When I cull the stocks from the initial universe, and assign them a score, they are dramatically different from the score they recieve from the ChartScript at Wealth Lab. Do these two scores mean something different? If so, what does the WealthLab one mean?

Thanks,

NewGuy
 
Quote from thenewguy:

When I cull the stocks from the initial universe, and assign them a score, they are dramatically different from the score they receive from the ChartScript at Wealth Lab. Do these two scores mean something different? If so, what does the WealthLab one mean?
More...

I assume your reading has progressed through the earlier pages of this Journal, and you have yet to read through the remaining posts. Jack Hershey used the creation of three lists (from the Stocktables.com initial sort) as a creative method for assigning score to each list of stocks. With the creation of the Wealth-Lab Chartscripts, we now have an automated (and more accurate) Method for determining Score. Later in the Journal, you'll arrive at a point where we eliminate the Three List Creation Process entirely. The "List" Scores represent an approximation. The Wealth-Lab.com Version 2.0.4 Hershey Chartscript provides a more accurate method for determining Score. Within the next few weeks, I hope to provide Hershey Chartscript Version 3.0.0 which will replicate the EXACT Scoring process used by Jack Hershey in automated form.

- Spydertrader
 
Wow, that's great. I've read the posts up until about page 77 very carefully, plus all the material at the sputnik site, and most of the recent posts from about 200 up, but must have missed the advances you guys have made in this system somewhere. Mildly frustrating is the fact that i've created an excellent "how-to" guide complete with pictures/screenshots, that now seems quite out of date! lol, that's what i get, i guess.....

I look forward to the next version of the WL script!

/edit - figured it out /edit

Thanks,

NewGuy.
 
Oh, also...

I know there are a lot of competent people here, and it looks like some competent programmers, but I was a programmer in a not-so-distant life, in many languages, and it would be impolite of me not to offer my services....

If you have anything that you would like some help on, please let me know!

TheNewGuy
 
2005-07-15, Friday - Lists

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

Hot List

CMT FORD MCRI

Dry Up Stocks

FORD IIG TASR UBET

Hot List Stocks Scores

CMT - 0
FORD - 0
MCRI - 0

Dry Up Stocks Scores

FORD - 0
IIG - 2
TASR - 6
UBET - 0

Keep an Eye on These Stocks

FORD (Attached)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=791237>
 

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Hi spydertrader,

Thank you for your help with my backfill question.
I have to bother you again. Here is my new question:

If a stock meets all our entry rule today,

float greater than 5,000,000
float less than 60,000,000
65-day average volume above 200,000 shares
RS > 80
EPS > 90
Dollar min 10 ( is it stock price low boundary ? )
Max dollar 50. ( is it stock price high boundary ? )

and right now if it is in Dry Up (DU) time. however MACD and stochastic do not cooperate, so we keep skipping this stock until its score changes from 0 to 4 5 6 7. Do we still keep watching it?
is it still a candidate for entry?

Or in another way for my question:

once a stock reaches dry up volume, do we still care about the score? ideally we expect score to be 0 to enter a trade if I understand Jack's method correctly. a score of 4 or 5 is ripe for a stock to finish its run up. right?

Thanks!!!

Jim.ny
 
Quote from jim.ny:

Dollar min 10 ( is it stock price low boundary ? )
Max dollar 50. ( is it stock price high boundary ? )
More...

$10.00 Low Price
$50.00 High Price

Quote from jim.ny:

and right now if it is in Dry Up (DU) time. however MACD and stochastic do not cooperate, so we keep skipping this stock until its score changes from 0 to 4 5 6 7. Do we still keep watching it?
is it still a candidate for entry?
More...

We don't worry about MACD and The Stochastic Indicator until such time we experience a volume and price increase in one of our Dry Up Stocks. You may choose to continue to monitor these stocks looking for an entry point which does have MACD and Stochastics at the appropriate levels. However, I eliminate such equities from consideration unless the reach FRV levels sometime before EOD. At that time, I again look for confirming MACD and Stochastic levels.

Quote from jim.ny:

once a stock reaches dry up volume, do we still care about the score? ideally we expect score to be 0 to enter a trade if I understand Jack's method correctly. a score of 4 or 5 is ripe for a stock to finish its run up. right?
More...

We look at score as a way to anticipate price movement the following day. It isn't an absolute rule. In other words, we do not expect price to always move smoothly from score to score. Ideally, we want to enter a stock as it transitions from a score of 1 or 0 to a score of 7 or 6. Unfortunately, the real world doesn't always conform to our ideals. I use score as a means to anticipate price direction. Using the attached chart as a guide, I would anticipate further price reduction on a stock with a score of 2. However, if such a dry up stock with a score of two experienced volume and price improvement along with appropriate MACD and Stochastic settings, then I would anticipate a change, and I should act accordingly and enter the trade.

I hope that helped.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=791470>
 

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2005-07-15, Friday - Update

This morning, I monitored one list of stocks (4 total equities): Those equities from our daily Hot List and from our Final Universe List finding themselves "In Dry Up."

Dry Up Stocks

FORD IIG TASR UBET

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

Dry Up Stocks Triggering Signal

FORD IIG

Dry Up Stocks NOT Triggering Signal

TASR UBET

FORD did NOT show price improvement ($18.17) at time of signal generation (10:18 AM). In addition, MACD Histogram showed a negative return (-.3671). Also, The Stochastic Indicator fell below desired levels (13.5296). As a result, I took no action with respect to entering into a long position with FORD.

IIG did NOT show price improvement ($10.32) at time of signal generation (11:04 AM). In addition, MACD Histogram showed a negative return (-.1533). Also, The Stochastic Indicator fell below desired levels (15.9441). As a result, I took no action with respect to entering into a long position with IIG.

- Spydertrader
 
I have noticed that the standards for Hershey stock is quite exacting.

About how long did it take you to get enough stocks in your final universe to begin to get a good money flow?

Best Regards
Oddi
 
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