Spydertrader's Jack Hershey Equities Trading Journal III

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Quote from buffalow:

Hey Huskeydog,

I'm just a beginner with this, but I marked up a different channel orientation than what you had - I used all pink for my annotations on the chart you posted. It looks to me like the dominant traverse of your blue channel was completed at the time of an FTT in my Long pink channel and followed by R2R volume confirming a trend change to non-dominant traverse back down to the blue RTL. I'd feel a little more confident if the last two red bars had a bit more volume though.

Any other thoughts?

Oh, thanks to Newguy for posting those charts - very impactful.

-buffalow
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Anytime! It's amazing how much I learn when I actually sit down and type something out rather than gloss over it at my usual ADD pace... :D

As for the channels you have added above, I think it's a matter of detail. I think there are some "rules" on how many to draw, but all of the above look like "valid" channels to me. The most important one, imho, is the last down trend one you've added, because that's the one where I'd be looking for an FTT at the moment. If no FTT shows up then I'd be looking for a bounce off the RTL of the major upward channel. To me it's clearly in a non-dominant traverse of an upward channel at the moment.

Thanks for the comments!

TNG
 
Quote from buffalow:

Hey Huskeydog,

I'm just a beginner with this, but I marked up a different channel orientation than what you had - I used all pink for my annotations on the chart you posted. It looks to me like the dominant traverse of your blue channel was completed at the time of an FTT in my Long pink channel and followed by R2R volume confirming a trend change to non-dominant traverse back down to the blue RTL. I'd feel a little more confident if the last two red bars had a bit more volume though.

-buffalow
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Hey buffalow,

I appreciate you taking the time to look at my chart. Your additions to my initial take make a lot of sense to me. I had suspected that the last downtrend may not be good for the action in the stock, but I was hesitant to add them. As I have said before, I am still working through the FTT material and I am not all the way there yet. :D Thanks for adding to my knowledge base.

I saw IAAC hit LBDU this morning, but the stochastic was below 80. Therefore, I took no action with respect to IAAC.

Thanks to TNG to posting his updates on his charts. I am sure that I am not the only one who found the information useful.

- Huskydog
 
Attached is my debrief on my STEC and XING paper-trades.

Comments are welcome, especially on what to look out for next.


(Please bear with me as I experiment with the best posting format.)
 

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For anyone using Quotetracker with IB data feed, have you found that the average volume column numbers will change in the morning after the open. This has constantly been happening to me and i cant figure out the problem. For example, BITS had an average volume of 151900 this morning. Then around 10:00am this changed to 70000 which is what it says now. I wrote down all the Ave. Vol for all the stocks in my watchlist and every single one has changed from what it was at the open until about 10AM. If I go into TWS the average volume has not changed at all (it still says 151900), and reflects what I would determine the average volume to be (Accoring to other websites). Does anyone know why every morning my numbers change around. This is having a huge effect on my %VOL column as it is based off the average volume. I may get a %VOL singal in the morning but then around 10am when the numbers all change so does the %VOL, in which case I should not have had a signal.

I emailed Quotetracker but they didnt really have an answer for me. They said it had to do with updating, but some of these numbers are changing so drastically that it cant just be an update, and if it was why was it doing it in the middle of the session. Plus, TWS is not changing its average volume numbers, only the average volume in QT is changing.

Any help would be great.
 
a little clarification on the previous post.

ININ bounced off the IT RTL which I had drawn @ 18.69, the low price so far for the day however is 18.61

I'm probably early on this, but if it continues to behave I'm looking at a target price around $23.00
 
Quote from rickylc:

a little clarification on the previous post.

ININ bounced off the IT RTL which I had drawn @ 18.69, the low price so far for the day however is 18.61

I'm probably early on this, but if it continues to behave I'm looking at a target price around $23.00
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ININ looks horrible. Almost as bad as STEC. :D

Good luck with it.
 
Quote from PointOne:

ININ looks horrible. Almost as bad as STEC. :D

Good luck with it.
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yes, it's certainly not a textbook trade, or anywhere close

strictly off the trendlines

i am watching it closely

:)
 
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