Spydertrader's Jack Hershey Equities Journal

Status
Not open for further replies.
2005-07-21, Thursday - Lists

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

Hot List

CMT FORD MCRI NGPS SNHY

Dry Up Stocks

DCAI

Hot List Stocks Scores

CMT - 7
FORD - 7
MCRI - 7
NGPS - 7
SNHY - 5

Dry Up Stocks Scores

DCAI - 1

Keep an Eye on These Stocks

TRGL (Attached)

The following stock has been ADDED to the Final Universe List as of 2005-07-20: SNHY.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=795978>
 

Attachments

Great journal, thanks. What do you do if the volume triggers a buy at 10:30, but the MACD and Stoch don't reach target levels 'til 11:00?? Assuming volume is still on a good pace and price is reasonable, any feel for whether buying at 11:00 is a good idea?? Thanks!!!
 
Quote from jimcrist:

Great journal, thanks. What do you do if the volume triggers a buy at 10:30, but the MACD and Stoch don't reach target levels 'til 11:00?? Assuming volume is still on a good pace and price is reasonable, any feel for whether buying at 11:00 is a good idea?? Thanks!!!
More...

If all the parameters don't fall within desired levels at time of signal generation, I pass on the trade. If the situation you describe occurred, I would look to EOD to see if volume reached FRV levels rather than enter at 11:00 AM.

- Spydertrader
 
Suppose a stock looks good for all the signals, LB volume exceeded prior to 11:30 AM, MACD Hist +, Stochastic >75 and positive price movement, but doesn't reach FRV by EOD and you sell out.

Suppose it doesn't even reach the UB volume threshold by EOD - would it still be on deck to be bought the next day? Technically the stock would be in DU again and if we hadn't traded it, we would if the signal occured the next day.

What's the best or recommended course of action. I'd say its probably ripe to trade again the next day for the same reasons you'd trade it the first time. Should a stock simply be held in this case if price is still positive and you aren't below the 2% stop? After all it might still pop the next day right?

I'm curious as to what you'd do in thi instance. Has this happened to anyone using the method?

-ace
 
Quote from acesheet:

I'm curious as to what you'd do in this instance. Has this happened to anyone using the method?
More...

If actual volume fails to exceed FRV levels by EOD, I exit the trade. If as you suggest the stock finds itself in Dry Up on the next day, and the process repeats, you enter again if the parameters align correctly. With the advent of Dry Up Volume range, we receive an increased number of possible signals. However, many of these signals turn out to be False (Failed) Break Outs (FBO). Holding an equity overnight which did not exceed FRV levels by EOD increases the probability of loss. I have on occasion broken this rule when I allowed greed to override the system, and almost every time, the market promptly handed me a reminder of why I need to follow the rules. The following post reviews this lesson

http://www.elitetrader.com/vb/showthread.php?s=&postid=771236&highlight=greed#post771236

- Spydertrader
 
2005-07-21, Thursday - Update

Our system failed to generate any trade signals today prior to 11:30 AM. I continue to hold 1000 shares of both MCRI and NGPS.

- Spydertrader
 
2005-07-22, Friday - Lists

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

Hot List

CMT FORD

Dry Up Stocks

DCAI IIG SNHY TASR TRGL UBET

Hot List Stocks Scores

CMT - 5
FORD - 2

Dry Up Stocks Scores

DCAI - 0
IIG - 4
SNHY - 0
TASR - 5
TRGL - 0
UBET - 0

Keep an Eye on These Stocks

DCAI (Attached)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=797240>
 

Attachments

Spyder-

CMT love it for a long, it just confirmed a inverted H&S
Ford Love it for a short, engulfing bar on the daily with volume.
UBET Still think it will retest the high

The rest well they look so so to me....:D

Good trading to you.

I will be all over CMT in the A.M. if I get a set up.
 
Status
Not open for further replies.
Back
Top