Spydertrader's Jack Hershey Equities Journal

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Thank you so much for your help on this system. I am amazed at your patience, insight, and determination (especially after reading your posts to William Reid earlier this month). Please keep up the good work. Many of us are following.

Keebee
 
As promised, I have completed the upgrades to the Web Site Version of the Hershey ChartScript on the Wealth-Lab.com Web Site. In addition, I have upgraded the Hershey Score Scan using the latest Hershey Scoring Matrix. These subtle, yet significant, changes to the Hershey Scoring Matrix resulted from an old USENET post Jack Hershey wrote in December of 1999. Jack clearly describes the exact Scoring Methodology he used to determine Score for each of his Hershey Equities. Although previous Versions of the Hershey Chartscripts closely approximated Jack's Scoring Methods, they did not get it exactly right. Until now.

The Hershey equities Rank V. 3.0 Chartscript and The Hershey Score Scan V. 3.0 both now use Worden's Balance of Power to determine the binary Accumulation / Distribution Score. In addition, Minimum Thresholds now exist in order to determine binary changes for both Price and Volume. In short, we now have the ability to Automatically Score our Hershey Equities exactly as Jack Hershey intended. Such ability should provide an increased accuracy of anticipated price movement.

Beginning with Monday's Lists, I will only use the NEW Scoring Methodology with respect to each day's lists of Hotlist and Dry Up Stocks.

For a superior view of the individual Charts created by The Hershey Chartscript Version 3.0, Create a FREE account as Reno recommended and save your preferences to the following settings after viewing a chart:

Chart Size: Small
Chart Style: Candlestick
Bar Spacing: 8

Then Click Submit, and return to the Chartscript you used. The preferences link appears after you run a ChartScript one time. IF you login to the Wealth-Lab.com web site before running a Chartscript in the future, you will have the same settings as described above.

For those using Wealth-Lab Developer or Wealth-lab Pro, I have attached the upgraded files to the end of this post.

- Spydertrader
 

Attachments

Final Universe Update

The following equities have been DELETED from the Final Universe List for Failure to Maintain Rank as of 2005-07-29: EZPW JUPM RNOW USG.

- Spydertrader
 
I'm confused. Before the new WL scripts, I got my universe from stockcharts.com. Then I would run the Hershey Dry Up Volume scan to generate a list of stocks in dry up volume for that day. Then I ran each of these through the Hershey Equities Rank to get the data on the stock for a possible trade the next day. Now it appears that I'm to use 3 different scripts. I'm slowing learning to understand what the scripts do, but in the meantime, could you please post a new procedure for implementing the system?

Thanks so much for your patience.

Keebee
 
Quote from keebee57:

I'm confused. Before the new WL scripts, I got my universe from stockcharts.com. Then I would run the Hershey Dry Up Volume scan to generate a list of stocks in dry up volume for that day. Then I ran each of these through the Hershey Equities Rank to get the data on the stock for a possible trade the next day. Now it appears that I'm to use 3 different scripts. I'm slowing learning to understand what the scripts do, but in the meantime, could you please post a new procedure for implementing the system?
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You should continue to follow the exact procedure as you did before except instead of using this ChartScript: Hershey Equities Rank v. 2.0.4, you use Hershey Equities Rank V 3.0.0 to obtain your data at the end.

I hope that clears up any confusion you may have. I added the stand alone Hershey Scoring Scan V 3.0 in case anyone had a need to Score a Watch List of Stocks separate from their methodology.

Again, I apologize for any confusion.

- Spydertrader
 
Hi Spydertrader,

I've been thinking about the indicators that you use for signals on the buy. Do you use the MACD and the Stochastic as alerts on other systems?. I've had trouble with false break outs in the past and have been trying to find some way to increase the reliability of my own signals. Any comments would be greatly appreciated.

-smashandgrab
 
Quote from smashandgrab:

Hi Spydertrader,

I've been thinking about the indicators that you use for signals on the buy. Do you use the MACD and the Stochastic as alerts on other systems?. I've had trouble with false break outs in the past and have been trying to find some way to increase the reliability of my own signals. Any comments would be greatly appreciated.
More...

Jack has often commented on the default settings for MACD and Stochastics and their tendency to lag behind the price data. As a result, he recommended altering the default settings to MACD (5,13,6) and Stoch (14,1,3) in order to have the indicators reflect as little delay as possible (his words). Another setting I find useful for monitoring trends is Stoch (5,2,3). You might try these settings to see if they add reliability to your system. I find the Stoch (5,2,3) to have a more 'smoothed' appearance. Of course, YMMV.

- Spydertrader
 
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