Spydertrader's Jack Hershey Equities Trading Journal III

Status
Not open for further replies.
i noticed this stock as well... but if you look at the slow stochastic... eventhough it's setup as a bruno play, but if you look at the last bruno setup which was just before jan. it ook a long time for the stochastic to bounce back up and crosses over...... even the mid jan macd being positive didn't help .... so i stayed away from it. the past history told us this is not the typical bruno we want to get into.

it could work this time... but just to be safe, i stayed away because of its past history. plus the the slow stochastic has already past the 50mark... so even if you want to get in on this as a bruno play it's already a little too late.. and if you look at the price... the shootup of the slow stochastic didn't help the price at all... it simply didn't go anywhere.
 
Quote from chiefraven:

in HWCC at 24.10 ... it was a bruno play a few days back... spyder called it out actually
More...

chiefraven,

I got in today knowing it was late in the run, and got out with a buck based on Spydertrader's "look at the daily channel" suggestion. I called it a day after that and haven't looked at the chart.

Did you get in as prices collapsed late in the day? I'm assuming HWCC collapsed if you got in at 24.10. Don't get me wrong, HWCC is an excellent stock, and is probably a solid candidate for a long term (5 year +) portfolio, but the upward run looked a little tired to me for the purposes of this method.

Then again, maybe I missed something. Holding 1000 shares and having learned the hard way that some of these morning moves have a tendency to retrace (significantly if your 24.10 entry is correct) I decided to take the thousand dollars the Man was offering me.
 
you're absolutely right on your observation. since i got in early with the bruno setup. i took half my position off when the slow stochastic dipped below 80 i think it was just a little after the open today... and let the other half ride as this stock exceeded dryup. i got the other half out when the stock reached Peak Volume today.

so basically i had two different setups working at the same time in this stock... first i got in because of the bruno... then got half out because the bruno doesn't look as good as before.... and left the other half to ride on th e dryup wave... which provided me with a little bit more profits.... before i decided to close the rest of the position.

i think i will be trading with real capital pretty soon.. feel like i have a pretty good understanding of how things move in regards to the beginner method :)
 
i can not stress it enough..... saving the pictures from wealth-lab site of the stocks you're looking at the next day, as well as any stocks that you find interesting... like a possible bruno, rocket ... are well worth the effort. Write down what you think of each... then the next day right down your observation, and save the new charts of these stocks and compare them to the old chart to see whether they moved t he way you pictured it, or was there something you didn't catch on the first time.... how was this bruno differ from the other bruno stock in regards to their fast and slow stochastic..... did it have high volume just a few days ago with decreasing prices? etc etc...

doing these work has really helped me in understanding and picking the good ones out of the basket.
 
Quote from chiefraven:

you're absolutely right on your observation. since i got in early with the bruno setup.
More...

OK, I misunderstood your message. Your price was from a few days back, not buying as the price collapsed. As I said I haven't looked at the chart since I exited, and I was really puzzled by your post, as that was quite a price difference from where I got out, i.e. close to 27.00.
 
Quote from bi9foot:

Watch for a possible FTT to form
More...

I think we are ready for liftoff

Let's see what happens
gooch87

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1362938">
 

Attachments

Status
Not open for further replies.
Back
Top