Spydertrader's Jack Hershey Equities Trading Journal III

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Quote from buffalow:

Do you refrain from trading Final Universe stocks (not tenured) immediately when they fail rank?
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In Journals One and Two, I avoided trading any stock which lost its rank. Too often, a stock which lost rank one day would tank within a few days of finding itself benched. However, things work a bit differently in Journal III. While I have still posted the DU Stocks based on the Chartscript Volume Calculations, you'll notice I have also posted a number of "Outside the Box" Charts recently. As I explained in this post, I hope to expand the horizons of those following along. As such, I encourage you to not only focus on your Final Universe Stocks, but also to focus on the list of stocks obtained by using the additional culling parameters (25% Insider Owned, 25% Institutional owned) in an effort to learn the Gaussian Volume Formation Dry Up Sequence. Tonight, using the Initial List obtained from the Stocktables.com Web Site (and adding the additional two culling parameters above) yielded 23 total charts for review. In this manner, I hope everyone can begin to learn to "Trade between the FTT's," and as a result, improve their overall performance.

- Spydertrader
 
Quote from Huskydog:

CTRN and SIRF are both in my Final Universe. Neither security was returned when I ran Spydertrader's Hershey Equities Dry Up Volume Scan v. 1.0.0. Perhaps you ran this scan and obtained different results?
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As a matter of fact, tonight I did not run the scan. Had I run the scan, I'm sure these two stocks would NOT have been identified for tomorrow.

Since, I'm a beginner with the Hershey Method, I opted to simply review charts in Wealth-Lab of all the current Final Universe stocks to practice the analysis process and also help to see the cycles unfolding over time instead of perpetually keying in on stocks in DU before learning to understand the bigger picture of their PVAD behavior. Between the green background and my focus on the bars and indicators I failed to recognize they have lost rank.

By the way, I often copy the WL charts and annotate them since my broker/data provider software does not allow saving trendlines on charts. No memory between different fractals, etc. Most of the time I don't like where the current WL script draws in the channels. Has anyone else run into this annoyance? It's been several years since I last worked with WL code, but I may take a more detailed look at the script to pull the trendlines off the charts.

Thank you for helping to clarify tonight's DU list.

-Buffalow
 
Quote from buffalow:

It's been several years since I last worked with WL code, but I may take a more detailed look at the script to pull the trendlines off the charts.
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Yes, well, it annoys the hell out of me as well. :D Feel free to take a run at it, and I'd be more than happy to update the code. In their current state, the automatic trendlines are designed to give an overall 'quick picture' of what is going on. If things look good, then hand drawing in correctly annotated trendlines permits a more accurate view. This was as close as I could get, but then again, I am no programmer. :D

- Spydertrader
 
Quote from Spydertrader:

Yes, well, it annoys the hell out of me as well. :D Feel free to take a run at it, and I'd be more than happy to update the code. In their current state, the automatic trendlines are designed to give an overall 'quick picture' of what is going on. If things look good, then hand drawing in correctly annotated trendlines permits a more accurate view. This was as close as I could get, but then again, I am no programmer. :D

- Spydertrader
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I was assuming that was their purpose but I figured others performed detailed annotations with their own charting software and I was the only one drawing on top of those charts.
 
Quote from thenewguy:

Three other stocks I am watching tomorrow are HWCC, DTLK and CTRN.

HWCC - I'm waiting for a pullback before I look for a set up on this stock. I'll probably put a volume alert at 1/4 the 65 day average, and if it hits that in the morning I'll take another look at it.

CTRN - If it makes a run at the RTL I would be interested in this again. I want to say there's a good chance that this hits CCC for a bit and bounces between the two trend lines before anything else happens. Again, I will set a volume alarm and ignore it until that is hit.

DTLK - I would expect it to continue down tomorrow and I will only be paying attention at the $7.73 area where it looks like good support from the RTL. I am going to put a price alert at $7.80 and watch how it behaves around there.

All comments welcome!

Thanks,

TNG
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Small mistake... sorry. I will be watching DLTK at 7.50, not 7.80... (the RTL)

Thanks,

TNG
 
Trades for today..

NVEC at $31 (hmmm..double dipping allowed?)

CRZO at @26

I gotta run; i'll post the charts later tonight. Good luck guys (and to me). Here is my problem now...I have NO way to monitor FRV or not before EOD to close the position; im using today's low as the stop. Suggestions anyone?

Again, Thanks
 
Quote from virgintrader:

Trades for today..

NVEC at $31 (hmmm..double dipping allowed?)

CRZO at @26

I gotta run; i'll post the charts later tonight. Good luck guys (and to me). Here is my problem now...I have NO way to monitor FRV or not before EOD to close the position; im using today's low as the stop. Suggestions anyone?

Again, Thanks
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Looks great, I was in late on NVEC @ 31.50. I will exit half around $32.80 or so. That's where I have the next TL to deal with.

I use trailing stops for a situation like that. I have not, however, done much research into what's best.

Also just bought COGO (19.46) with some small size. The point 3 I had on the down channel seems to have been invalidated, and I'm taking that as a bullish sign. Also, it signalled with the exception of the stoch being a little low.

Thanks,

TNG
 
As far as purchasing DXPE and NVEC... are you guys not waiting on DU for these? I have DU at 64,789 and 316,622 respectively. Neither of which had been hit today when you guys posted your buys. Am I missing something?

Thanks!
 
Quote from bdolnik:

As far as purchasing DXPE and NVEC... are you guys not waiting on DU for these? I have DU at 64,789 and 316,622 respectively. Neither of which had been hit today when you guys posted your buys. Am I missing something?

Thanks!
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I buy at the lower band of DU. 32,474 for DXPE and 158,754 for NVEC.

Thanks,

TNG
 
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