Spydertrader's Jack Hershey Equities Trading Journal III

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Quote from rbaker:

Jack,

I entered a trade on FTEK today according to my understanding of the rules. However my question is for handling the trade tomorrow. FTEK hit FRV today so I held it. When I look at the Unusual Volume Correlation Table it mentions that the stock must meet certain %of the 65 day avg volume (particularly those numbers in the peak column which are colored blue. The chart says, "Continue to hold if maintained (sell owned positions when lagging below this level within one day)."" I know that seems straight forward but I would appreciate some commentary on how to use this table to manage an open trade.

Thanks

b
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As I understand it, all the numbers on the volume correlation table are based on the 65 day average as this is a widely available convenient number on which to pin everything. FRV is calculated as a certain % of 65D volume and is a guideline.

I looked closely at FTEK but passed as it seemed to me the volume was stalling after the open though it did resume later. Eyeballing the daily now it looks like a strong FRV to me and as price went up it may appear on many more traders scanners tomorrow :) I think you want to see increasing volume tomorrow and indications that it will get to the LTL (my long channels start in July/August), or you exit for small profit / wash.

What entry criteria did you use and what was your fill price ? I ask because the daily stoch(14,3) is low 40s on my chart.
 
My entry was at 938 EST when the pro rata low band volume was passed. I use Spyder's standard indicators of positive price, slow Stochastic above 80 on 30 minute chart, and MACD positive on 30 minute chart. My fill price was 25.86. You are right that volume stalled after about 10-1030 and just had spurts after that. I was somewhat surprised that it hit FRV but since it did I am long my position. On my chart the price broke out of a daily downtrend channel with the morning volume surge and has the upper boundary of the intermediate (weekly) trendline at about 28 for tomorrow.
 
Hello,

More of a lurker here than a poster. I have a question, anyone else come up with HWCC as a hotlist stock today?

My initial stocktables.com scan was 80/80, culled via "cull stocktables" spreadsheet, and ran against Hershey Rank Scan V1.0

Thanks,
TG
 
Quote from TradingGuy:

I have a question, anyone else come up with HWCC as a hotlist stock today?
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According to the chart, HWCC appears to be a Dry Up Stock for Thursday Evening (based on Volume). I did not have HWCC in my Watchlist as it has yet to make my Final Universe. According to Qcharts, HWCC currently sits a few weeks shy of six months worth of data. I require a minimum of 127 trading days of data before I permit an equity into the Final Universe. Jack requires 2 years of data (or used to).

- Spydertrader
 
Quote from PointOne:

[ FRV is calculated as a certain % of 65D volume and is a guideline.

Most of you probably know this but for those that don't:
3 x DU= FRV
2 x FRV= Peak
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Quote from Spydertrader:

According to the chart, HWCC appears to be a Dry Up Stock for Tuesday Evening (based on Volume).
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Corrected Typo from Previous Post.

- Spydertrader
 
I require a minimum of 127 trading days of data before I permit an equity into the Final Universe. Jack requires 2 years of data (or used to).
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Thank you for the clarification, and thanks to all who have contributed to these journals.

Regards,
TG
 
Quote from johnpinochet:

Merry Christmas and Happy New Year (belated)!

I don't see any postings of watch lists for the day, so I'll post mine for Wednesday 03 January 2007.

BITS FTEK GIGM GMXR NVEC OMNI SIM SIRF

Does this match anyone else's watch list for the day?
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Seeking comments.

I didn't really pay attention to the daily chart on the above watchlist, simply looked at the stocks periodically intra-day.

As I look at the daily today, I realize that I would be very uncomfortable buying GMXR NVEC OMNI SIM SIRF. The daily chart on these symbols is horrible.

SIRF would be an exception as it does appear to have finished a cycle low.

So, the ones I would have actually considered for purchase yesterday would have been:

BITS FTEK GIGM and SIRF

Comments on if this sort of subjective evaluation would be a bad?
 
Quote from johnpinochet:

Comments on if this sort of subjective evaluation would be a bad?
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Quite the opposite. Always evaluate the Daily Chart for Price location within a channel, Volume Considerations, Days since the FTT, Indicator Sequences and whatever else allows you to 'see' the cycle of the stock you consider trading.

Nicely done.

- Spydertrader
 
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