Spydertrader's Jack Hershey Equities Trading Journal III
- Thread starter Spydertrader
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I got in on Thursday, shortly before close.
The primary reason - there was a FTT of the down channel you are pointing out. This also happened to coincide very closely to the RTL of a long term upchannel which had formed back in August of last year.
Hahaha - well I hope not
I'm watching for decreasing price and increasing volume. Is price decreasing? If yes check PRV. Is PRV increasing over the previous trading day? If yes, check T&S to see if size is moving price down. If yes, exit. Mind you, I could very well have just abandoned my position and moved onto the next stock - but I'm still learning using some more advanced concepts.
Of course commentary is always welcome.
BTW, Gooch pointed out that this looks like a cup and handle forming...
Good trading to you
-Au
hey could you draw the FTT you're talking about as well as the RTL of the long term channel you were talking about?
Hi Aurum,
I checked "The Successful Investor" by William J. O'Neil to compare a good Cup with handle with a bad one. I think this is not a good buy based on the cup criteria. See my chart below. Of course YMMV.
gooch87
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1357312">
I am sitting here on another beautiful day in Buenos Aires reading my way through
"Spydertrader's JH journal" as compiled by PrOcrast.
My congrats to all you guys, it is a great piece of work and it is always interesting to read of fellow "volume travelers"
By and large I follow the predominant channels and watch carefully as they impact against horizontal zones.
My TP's (tipping points) are your FTT points and my vol is split into ask/bid which I regard as muy importante.
Once again, muchas gracias and I look forward to the next edition.
"Spydertrader's JH journal" as compiled by PrOcrast.
My congrats to all you guys, it is a great piece of work and it is always interesting to read of fellow "volume travelers"
By and large I follow the predominant channels and watch carefully as they impact against horizontal zones.
My TP's (tipping points) are your FTT points and my vol is split into ask/bid which I regard as muy importante.
Once again, muchas gracias and I look forward to the next edition.
Don't know if anyone is looking at this. Comments? Sorry for the crude annotations!
ooops missed the attachment!
i'm a beginner, so what i think might not be the best thing to do.
it does seem like it has ran up a bit and reached a fbo, with volume decreasing, .....
but i'm just starting to learn about bruno r, and rocket setups. i was wondering if anyone could go over some setups of these 2 type of trades that you are considering from your final universe?
i do know the guideline for both methods, but after checking the daily chart for both bruno and rockets, i've seem to come up with a lot of candidates, which brought me to the question on SYX. From the daily chart, it seems like it already had a good run up in price, and volume is decreasing a bit, But i'm reading jack's bruno r and rocket post from that link you guys posted in Journal 2, but all it said basically was to look for the fast stochastic to move beyond 80, come back down to around 80 and stay there, entwined. But, what the post didn't mention was, how much of this entwining do you want? for example, for syx, it has been entwining for a long time, so even though this is what we need for the rocket trade, obviously this has been in this stage for too long and will most likely be going down due to the decrease in volume, as well as the runup that it just had?
Can someone please post some examples of some of these bruno, rocket candidates from their final universe that they are considering so i can get a good idea of what to look for, 'cuz i think eventhough i get the concept, there's still the little things that i'm missing... like how much entwining we want... if it's been entwining for a long time, it might not be worth it? but if it's just starting to entwining, then the runup might be a good entry because it will continue its run up, since 80+ on stoch indicates a hold.
thanks in advance.
it does seem like it has ran up a bit and reached a fbo, with volume decreasing, .....
but i'm just starting to learn about bruno r, and rocket setups. i was wondering if anyone could go over some setups of these 2 type of trades that you are considering from your final universe?
i do know the guideline for both methods, but after checking the daily chart for both bruno and rockets, i've seem to come up with a lot of candidates, which brought me to the question on SYX. From the daily chart, it seems like it already had a good run up in price, and volume is decreasing a bit, But i'm reading jack's bruno r and rocket post from that link you guys posted in Journal 2, but all it said basically was to look for the fast stochastic to move beyond 80, come back down to around 80 and stay there, entwined. But, what the post didn't mention was, how much of this entwining do you want? for example, for syx, it has been entwining for a long time, so even though this is what we need for the rocket trade, obviously this has been in this stage for too long and will most likely be going down due to the decrease in volume, as well as the runup that it just had?
Can someone please post some examples of some of these bruno, rocket candidates from their final universe that they are considering so i can get a good idea of what to look for, 'cuz i think eventhough i get the concept, there's still the little things that i'm missing... like how much entwining we want... if it's been entwining for a long time, it might not be worth it? but if it's just starting to entwining, then the runup might be a good entry because it will continue its run up, since 80+ on stoch indicates a hold.
thanks in advance.
Review your chart within the context of Gaussian Volume Formations, and see if things don't become somewhat clearer for you.
- Spydertrader
Hi folks
Just posting my lists for comparison and comments:
Final Universe:
ALY BITS COGO DTLK DXPE FTEK GIGM GROW GRRF HWCC IAAC ININ LQDT MIKR NVEC OMRI PCCC REDF SIM SIRF SNCR STEC SYX
XING
This is from Spyder's list back on 02/02. By the way does anyone have UCTT in their final universe?
Hot List (after culling for rank, price, EPS, float, volume):
FTEK GIGM GROW ININ LQDT MEH OMRI
Dry-Up Stocks for Monday 02/12):
BITS DXPE HWCC IAAC NVEC OMRI
Cheers
Just posting my lists for comparison and comments:
Final Universe:
ALY BITS COGO DTLK DXPE FTEK GIGM GROW GRRF HWCC IAAC ININ LQDT MIKR NVEC OMRI PCCC REDF SIM SIRF SNCR STEC SYX
This is from Spyder's list back on 02/02. By the way does anyone have UCTT in their final universe?
Hot List (after culling for rank, price, EPS, float, volume):
FTEK GIGM GROW ININ LQDT MEH OMRI
Dry-Up Stocks for Monday 02/12):
BITS DXPE HWCC IAAC NVEC OMRI
Cheers
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