Spydertrader's Jack Hershey Equities Journal

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2005-09-09, Friday - Update

This morning, I monitored one list of stocks (10 total equities): Those equities from our daily Hot List and from our Final Universe List finding themselves "In Dry Up."

Dry Up Stocks

CMT DCAI HANS IRIS MCRI NGPS RTSX SNHY SOLD VDSI

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

Dry Up Stocks Triggering Signal

IRIS SOLD MCRI HANS RTSX

Dry Up Stocks NOT Triggering Signal

CMT DCAI NGPS SNHY VDSI

IRIS did show price improvement ($18.01) at time of signal generation (9:52 AM). In addition, MACD Histogram showed a positive return (+.0333). Also, The Stochastic Indicator fell above desired levels (100.00). As a result, entered into a long position with IRIS receiving a fill price of $18.02 USD on 1000 shares.

SOLD did show price improvement ($13.64) at time of signal generation (10:25 AM). Although, MACD Histogram showed a positive return (+.0395), The Stochastic Indicator fell below desired levels (68.75). As a result, I took no action with respect to trading SOLD.

MCRI did not show price improvement ($17.69) at time of signal generation (10:42 AM). In addition, MACD Histogram showed a negative return (-.1491). Also, The Stochastic Indicator fell below desired levels (13.47). As a result, I took no action with respect to trading MCRI.

HANS did not show price improvement ($48.94) at time of signal generation (10:48 AM). In addition, MACD Histogram showed a negative return (-.4747). Also, The Stochastic Indicator fell below desired levels (10.72). As a result, I took no action with respect to trading HANS.

RTSX did show price improvement ($27.23) at time of signal generation (11:19 AM). In addition, MACD Histogram showed a positive return (+.0187). Also, The Stochastic Indicator fell above desired levels (96.86). However, I really do not like trading these 'late morning' signals. As a result, I passed on this trade and took no action with respect to trading RTSX.

When price on FORD gapped up slightly this morning at the open, I monitored the resistance level of $29.00 USD. When price started to retrace from the morning high ($29.77 USD), I sold all remaining shares (500) of FORD receiving a fill price of $29.50 USD. This overnight trade yielded a gross profit of $1010 USD or a gain of 7% on 500 shares.

- Spydertrader
 
2005-09-09, Friday - Update

Those of you that followed the system and traded the RTSX signal today, nice trade. Already, up +.58 since signal for a gain of 2%, and volume has exceeded FRV levels. Again, nice trade everyone. Stupid move on my part!

- Spydertrader
 
2005-09-09, Friday - Update

Both IRIS and RTSX from our list of Dry Up Stocks reached FRV levels by EOD. Interestingly, RTSX also reached Peak Volume levels by EOD.

Again, Congrats to those of you who traded RTSX today. RTSX finished up +.76 since signal for a gain of 2.6% on the day.

I continue to hold 1000 shares of IRIS from the $18.02 price point and plan to do so at least until Monday morning.

- Spydertrader
 
I got FRV on IRIS from chartscript at wealthlab and FRV = 246000
but last volume for IRIS is 189000 from my IQ FEED source on MEDVED and I checked yahoo with exact same volume....189k and change.

Hershey chartscript = 246k FRV

Last volume = 189k.


Which data am I wrong on?

I have IRIS not FRV. HELP!
 
Quote from hungry:

Which data am I wrong on?
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I had FRV for IRIS at 183,541 shares. Based on this volume level IRIS did reach FRV by EOD. If you had a different volume level for FRV, then by your calculations IRIS did not reach FRV, and you acted accordingly by not holding overnight. In other words, you took the correct action based on the information available to you. Keep up the great work.

- Spydertrader
 
Quote from Spydertrader:

If you had a different volume level for FRV, then by your calculations IRIS did not reach FRV,
- Spydertrader
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You are the one with a volume level that is different from the chartscript at wealthlab. My level matched your chartscript.

First, I am definitely not here to be given fish every day. I am learning how to fish for myself.

I am grateful for your journal because it has helped me distill Jack Hersheys teachings and get started faster than I could on my own.

Meanwhile I have limited short-term trading experience so I am trying to mirror your actions in order the learn from your experience (which I admire and deeply appreciate).

Although I am working on and testing my own DU FRV and Peak calculation methods on Metastock, I am using your FRV calculations from your chartscript at the wealthlab websight to actually trade real money right now. I don't hold anyone other than myself responsible for my results.


IMPORTANT PART

My point is, you are using calculations different from the chartscript and I missed these modifications.

I have been under the impression that you use the same chartscript and DU FRV PEAK numbers to achieve the results you have at least since last May 2005.

Apparently you aren't. There seem to have been some modifications that I missed somehow.

This would also explain why you got an earlier signal on IRIS than I did. >>>>>>>>Because your calculations are different for IRIS from the ones in your chartscript at wealthlab.

Friendly observation: If your calculations produce values below the chartscript on wealthlab, then you are front running the wealthlab chartscript. Whether intentional or not...it's a fact.

Also, it seems your modified calculations haven't been documented in the journal. Of course I may have just missed it.

This could be misconstrued by someone with bad intentions.

Thank you for your time and insight.
 
Quote from hungry:

First, I am definitely not here to be given fish every day. I am learning how to fish for myself.

Meanwhile I have limited short-term trading experience so I am trying to mirror your actions in order the learn from your experience (which I admire and deeply appreciate).

Although I am working on and testing my own DU FRV and Peak calculation methods on Metastock, I am using your FRV calculations from your chartscript at the wealthlab websight to actually trade real money right now. Don't worry, I don't hold anyone other than myself responsible for my results.

My point is, they aren't my calculations, as you responded, they are yours plus others who helped earlier.

I have been under the impression that you use the same chartscript and DU FRV PEAK numbers to achieve the results you have at least since last May 2005.

Apparently you aren't. There seem to have been some modifications that I missed somehow.

This would also explain why you got an earlier signal on IRIS than I did. I am absolutely certain it wouldn't be data delay because I test my data delay by placing limit orders and seeing how fast they show up on the ask number on my Quotetracker.

They always show up within 2 - 4 seconds from the time I click send.

Thanks again for your time and insight.
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Hi hungry,

I think the point Spydertrader was trying to make is that you use a different quote source than he does (he has mentioned he uses qcharts). One thing I have learned is that it is very feasible to have widely varying volume numbers for the same time for the same stock.

So in fact, using your IQ feed in Quotetracker, you received a signal (later than Spydertrader) but since everything did not line up, you didn't take the trade. You did everything according to Hoyle there. You can never assume that you will always get the same exact data at the same exact time than everyone else (unfortunately). I OFTEN received different volume numbers than this journal when I used Yahoo data.

Even people with the same exact set up, data feeds, etc., may have different data from time to time due to internet latency, and other similar problems.

Hope that helps...
 
Quote from smtrader:


So in fact, using your IQ feed in Quotetracker, you received a signal (later than Spydertrader) but since everything did not line up, you didn't take the trade. You did everything according to Hoyle there. You can never assume that you will always get the same exact data at the same exact time than everyone else (unfortunately). I OFTEN received different volume numbers than this journal when I used Yahoo data.
More...

Reread spyders post. His point was that my calculation for FRV was different. He didn't say anything about data signal delay difference. And he posted an FRV announcement that was FRV calculation significantly different from the wealthlab chartscript.
I do appreciate your info on data feed differences etc.

This is not the issue I am addressing. The issue is that spydertraders FRV calculation is lower than the chartscript calculation from wealthlab. ALso the lower band calculation is less than the wealthlab calculation, therefore an earlier entry.

Therefore the calculation formula has been modified from the chartscript and I wasn't aware for some reason.

Thank You
 
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