Spydertrader's Jack Hershey Equities Journal

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2005-08-22, Monday - Lists

Hershey Wealth-Lab Chartscript Culling Methodology
Hershey Equities Rank V 3.0.0 / Qcharts Culling / Stocktables.com Sort

Hot List

DPTR FORD NETL NGPS SNHY

Dry Up Stocks

DCAI FORD HANS ITRI MCRI PARL RTSX VDSI

Hot List Stocks Scores

DPTR - 5
FORD - 4
NETL - 7
NGPS - 7
SNHY - 5

Dry Up Stocks Scores

DCAI - 0
FORD - 4
HANS - 7
ITRI - 3
MCRI - 0
PARL - 0
RTSX - 1
VDSI - 4

Keep an Eye on These Stocks

RTSX (Attached)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=820855>
 

Attachments

2005-08-22, Monday - Update

This morning, I monitored one list of stocks (8 total equities): Those equities from our daily Hot List and from our Final Universe List finding themselves "In Dry Up."

Dry Up Stocks

DCAI FORD HANS ITRI MCRI PARL RTSX VDSI

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

Dry Up Stocks Triggering Signal

PARL FORD HANS ITRI

Dry Up Stocks NOT Triggering Signal

DCAI MCRI RTSX VDSI

PARL did show price improvement ($32.96) at time of signal generation (9:55 AM). In addition, MACD Histogram showed a positive return (+.0856). However, The Stochastic Indicator fell below desired levels (56.32). As a result, I took no action with respect to trading PARL.

FORD did show price improvement ($25.68) at time of signal generation (10:03 AM). In addition, MACD Histogram showed a positive return (+.1852). Also, The Stochastic Indicator fell above desired levels (97.33). As a result, I entered into a long position with 1000 shares of FORD receiving a fill price of $25.65 USD.

HANS did show price improvement ($44.86) at time of signal generation (10:58 AM). In addition, MACD Histogram showed a positive return (+.2137). Also, The Stochastic Indicator fell above desired levels (44.86). I entered into a long position with 1000 shares of HANS receiving a fill price of $44.87 USD.

ITRI did show price improvement ($50.07) at time of signal generation (11:02 AM). In addition, MACD Histogram showed a positive return (+.1040). However, The Stochastic Indicator fell below desired levels (78.43). As a result, I no action with respect to trading ITRI.

- Spydertrader
 
spyder,

just wanted to give you respect for putting it all out here so clearly (incl. your personal trades). It takes lots of guts and I wish you the best.

Just a small comment. It seems to me that you might be limiting your potential list of playable stocks. Do you feel this way or are your hands full already monitoring the ones on your list?
 
2005-08-22, Monday - Update

None of our Dry Up Stocks reached FRV levels by EOD.

As a result, I sold all shares of FORD at the $25.49 price point. This intraday trade yielded a single day gross loss of $160 USD or a 0.5% loss on 1000 shares.

In addition, I sold all shares of HANS at the $45.80 price point. This intraday trade yielded a single day gross profit of $930 USD or a 2.0% gain on 1000 shares.

For the day, we see a total profit of $770 USD.

- Spydertrader
 
Quote from Babak:

just wanted to give you respect for putting it all out here so clearly (incl. your personal trades). It takes lots of guts and I wish you the best. Just a small comment. It seems to me that you might be limiting your potential list of playable stocks. Do you feel this way or are your hands full already monitoring the ones on your list?
More...

Thank you for your kind words regarding this Journal. I hope you can find something useful here as many others have.

While true, the system described within the many pages of this journal fails to trigger a trade signal each day, I feel the system itself inherently reduces my overall risk. Since the protection of my trading capital remains my top priority, keeping overall risk within my comfort zone allows me to trade profitably, while at the same time, incurring limited risk. For me, it feels like a perfect fit. Of course, YMMV.

Again, thank you for stopping buy, and I wish you tremendous success on your Journey as well.

- Spydertrader
 
Hello Spydertrader

Congratulations on the your gain in HANS today. I also took the HANS trade today getting a fill within .03 of your entry but was stopped at 2%. It seems that you should have been stopped out as well when price dipped to 43.75 at 12:50 p.m. Can you tell me what kept you in the trade until EOD? Perhaps I don't understand how you apply the 2% initial stop loss. Is it a hard stop or mental stop allowing one some leeway?

Thank you.
 
Quote from Reno:

Congratulations on the your gain in HANS today. I also took the HANS trade today getting a fill within .03 of your entry but was stopped at 2%. It seems that you should have been stopped out as well when price dipped to 43.75 at 12:50 p.m. Can you tell me what kept you in the trade until EOD? Perhaps I don't understand how you apply the 2% initial stop loss. Is it a hard stop or mental stop allowing one some leeway?
More...

I use a mental stop, rather than place the order with my broker. Its an old habit that I have found difficult to break. Today, rather than hurt me, doing so actually helped me. Around 12:45, I left the computer screen to use the restroom, and when I returned, price had dropped significantly (below my stop), but also, had already started to head back higher (above the stop). While waiting to see if I should sell, price continued to head higher still. I simply lucked out by being in the restroom at that exact moment in time price shot down to that level.

- Spydertrader
 
Thanks Spydertrader. I am very happy for your good fortune. It's nice when the trading gods let a break go our way once in a while. As for me I know quite well what I am liable to do at the moment of truth so I'll have to stick to the hard stop and take my lumps, if any, for the forseeable future. Best wishes to you.
 
Quote from Spydertrader:

I use a mental stop, rather than place the order with my broker. Its an old habit that I have found difficult to break. Today, rather than hurt me, doing so actually helped me. Around 12:45, I left the computer screen to use the restroom, and when I returned, price had dropped significantly (below my stop), but also, had already started to head back higher (above the stop). While waiting to see if I should sell, price continued to head higher still. I simply lucked out by being in the restroom at that exact moment in time price shot down to that level.

- Spydertrader
More...

Does this mean we have to add another rule to trading the Hershey method called a "Porcelain Stop"?

Congrats on pulling out a great trade on a tough day.

Ross
 
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