Spydertrader's Jack Hershey Equities Journal

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Quote from thenewguy:


That to me says he watches it for signals everyday, which can't be correct, because as Spyder pointed out, it was not in dry up for today.
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http://www.elitetrader.com/vb/showthread.php?s=&threadid=21354&highlight=Jack+Hershey+Equities

Quote from thenewguy:

The reason I asked for previous posts about the Hot list is because I'm curious as to why the hot list is posted everyday, rather than just the DU list, which is what we trade off. I want to double check that I'm not missing some significance of it, other than indicating new stocks to our final universe.
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Some people like to make sure they have correctly followed the methodology. Providing a Hotlist, allows them to check themselves against what I do.

- Spydertrader
 
Some people like to make sure they have correctly followed the methodology. Providing a Hotlist, allows them to check themselves against what I do.
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Thank you, that's all that I was looking for.

I guess I have to work on phrasing my questions better... :(

Thanks,

The New Guy
 
Quote from thenewguy:

This journal, however, is rather fragmented and some parts of it are confusing and contradicting, even when read the whole way through.
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I couldn't disagree with you more... but I'll give you one thing, it is looooong, so I suspect that some things can be forgotten when you get to other things. However, everything flows as Spydertrader iteratively refines his process over time. I am not sure where you see it fragmenting...

The Hot List is simply the stocks that are pulled from stocktables.com, for that day, that meet all the criteria (cycles, float, avg vol, etc.). So a stock may be on the Hot List, but not necessarily in DU.
 
Quote from swtrader:

I couldn't disagree with you more... but I'll give you one thing, it is loohooing, so I suspect that some things can be forgotten when you get to other things. However, everything flows as Spydertrader iteratively refines his process over time. I am not sure where you see it fragmenting...

The Hot List is simply the stocks that are pulled from stocktables.com, for that day, that meet all the criteria (cycles, float, avg vol, etc.). So a stock may be on the Hot List, but not necessarily in DU.
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It actually is somewhat choppy and no offense to spyder. As questions are asked and answered sometimes various answers are buried on page 135. Reading the whole journal goes by very slowly and I was at first hesitant to read it all at first. If you have read the journal how to not believe it is fragmented. The process by which people asking questions simply fragments it.

Thanks for you hard work spyder.
 
I couldn't disagree with you more... but I'll give you one thing, it is looooong, so I suspect that some things can be forgotten when you get to other things. However, everything flows as Spydertrader iteratively refines his process over time. I am not sure where you see it fragmenting...
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I'm not taking a stab at this journal, I think it's absolutely fantastic. I've expressed my appreciation to Spyder about it before, and all the others that contribute to it. However, if you do read through it and all the other material supplied you realize quite a few of the concepts have changed over time (iterative learning process) and have the methods for accomplishing the underlying principles of the system have changed dramatically from when Jack used to do it, and even from when Spyder started this journal. Going through the journal starting a few months ago doesn't allow for questions to be asked at the time the concepts were originally discussed and can lead to unanswered questions, especially questions asking for clarification of things in the past.

Specifically I find concepts that are addressed in multiple different forums over a fairly large span of time confusing at times.

The Hot List is simply the stocks that are pulled from stocktables.com, for that day, that meet all the criteria (cycles, float, avg vol, etc.). So a stock may be on the Hot List, but not necessarily in DU.
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Yes, that is how I understand the hot list as well, which is why i asked for clarification when spyder said that Jack trades off that list. Those two concepts are contradictory to me.

Thanks,

The New Guy
 
Good Afternoon Spyder,

I apologize for belaboring this subject, but I too am new and prone to memory lapses as I get older.

Question: if we add the hot listed stock to the final universe (if it is not there already), are we to wait for the vol to dry up before trading it again?

-smashandgrab
 
Quote from thenewguy:

Yes, that is how I understand the hot list as well, which is why i asked for clarification when spyder said that Jack trades off that list. Those two concepts are contradictory to me.
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Jack uses the download from stocktables.com weekly. I use it daily. Jack trades from the Hotlist. I trade off of the Final Universe List. The reasons behind the differences between my methods and those which Jack shared in the linked thread above resulted from my inability to find any signals to trade by following exactly what Jack said. I decided to review his posts again and try to determine what he meant, rather than, follow his posts as a chef might follow a cookbook. I experimented, tested, analyzed and reviewed. I recall thinking, "Damn, if I would have only run this list 3 days ago (rather than on Sunday Night), I would have caught this Stock just before it moved higher in price." Such thinking led me to running Jack's methods twice a week, and that, led to several times a week, which in turn led me to running my lists daily.

The Final Universe List started as a list of my Tenured Stocks (profitable trades) until one day I noticed that my list of tenured stocks produced more signals than the Hotlist Stocks - significantly more! Another thing happened along the journey as well. The market changed in a big way. Where once I would have 10 - 15 Hotlist Stocks, I began to see sometimes one, two or three symbols. As a result, I started saving the Hotlist into a Final Universe List.

Another area in which Jack and I differ revolves around Dry Up Volume calculation. Jack teaches his 'eyeball' method (a skill I have yet to master) and I use a specific formula.

In short, while the implementation of the methods differs significantly between Jack and myself, the underlying concept behind the methods remains the same. This Journal, Jack's many threads here on ET, the numerous links to background material should all be viewed through a lens allowing for understanding of the theories which are the foundation for my methodology. Just as we now use different methods to those once employed by myself and others, over time, we may develop superior methods over those which we employ today. Developing a firm understanding of the past, afforded me the ability to transition my methods into what I now use on a daily basis.

- Spydertrader
 
Quote from smashandgrab:

Question: if we add the hot listed stock to the final universe (if it is not there already), are we to wait for the vol to dry up before trading it again?
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If the Hotlist Stock you add to the Final Universe List is already "In Dry Up," then you would look for a trade signal. If the Hotlist stock you add to the Final Universe is not "In Dry Up," then you would wait until it is in Dry Up before monitoring for a trade signal.

- Spydertrader
 
Spyder, thanks so much for all the work you do:
2 questions:
How much is the necessary stockcharts.com package?

Is QCHARTS only used to monitor intraday real time, if not, what else is it used for?

thanks,
KK
 
Quote from KevinK:

How much is the necessary stockcharts.com package?
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http://www.pitbull.com/stocksystems/product_info.php/cPath/2/products_id/15

You can sign up for a two week free trial at The Web Site before spending any money.

Quote from KevinK:

Is QCHARTS only used to monitor intraday real time, if not, what else is it used for?
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I use it to sort the stocktables.com initial download and cull for Average Daily Volume, EPS and Float. A process which would normally take me thirty minutes to an hour, takes me less than three minutes using QCharts. SVRZ can send you a link for a free month of Qcharts if you send him a PM or email.

- Spydertrader
 
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