Spydertrader's Jack Hershey Equities Trading Journal III

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Time to answer an easy question: seconds
Time to scrounge thru 500+ pages of crap to find the answer to a simple question: hours

Maybe someone else will actually be helpful here
 
Quote from traderdragon2:

Time to answer an easy question: seconds
Time to scrounge thru 500+ pages of crap to find the answer to a simple question: hours

Maybe someone else will actually be helpful here
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very true!

tenured stock
 
Quote from bdolnik:

Can anyone point me to info on the Bruno R stuff you guys are talking about. I did a search but it's hard to find the beginning of the discussion or a good concise explanation of it.
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You can begin with the original post by Jack, or Search under my name for the discussion.

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Hmmm I thought this method required the stock be in the upper 30% of EPS?
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Read Here to find the answer.

- Spydertrader
 
Quote from traderdragon2:

Time to answer an easy question: seconds
Time to scrounge thru 500+ pages of crap to find the answer to a simple question: hours

Maybe someone else will actually be helpful here
More...

Interesting how you consider the journals to be "crap."

While you might not be able to find your answer immediately, by taking the effort to work through the journals you learn much more than what you originally attempted to find out.

It's about the journey, not the destination.

BTW - your answer to your original question is incorrect.

-Au
 
Spydertrader,

I know the purpose of the thread is the Hershey method which doesn't really deal with long term holds, i.e. eventually even a stock that might be worth holding for months or years is going to be sold in a short period of time via this method.

My question is, do you sock money away in long term holds in a separate account? I'd like to start funneling money into some some of the universe stocks but I really can't decide. On the one hand I had some success with holding some of them longer than the strict method would allow, i.e. previous post, on the other hand holding GIGM longer than I should have almost proved disastrous.

Any advise? Are there any of the universe stocks or previous universe stocks that you look at and say to yourself, you know, I could see myself holding on to that one in a separate account for months, or even a year or so?

Thanks in advance!

JohnP
 
Since every day we have roughly 3 - 6 stocks on the DU watchlist, I'm thinking that an interesting idea might be to list our stocks to watch but to also add an aside like this:

If I could only buy 1000 shares of one, I would buy:

So, for example, for me yesterday, the stock was HWCC. A week or so ago, it was GROW, before that it would have been GIGM or BITS.

I'm very curious to know which of the daily DU watchlist stocks, or even from the tenured stocks that people are looking at do they in the back of their mind say, if I could only buy 1 (or maybe 2) I would buy 1000 shares of this one.
 
Hi John,

I'm interested as to why you want to hold some of the FU stocks longer term. This method (I believe) is all about 'flipping' highly volatile stocks.

My preference is to enter as many stocks as possible as I believe that I am diversifying my risk and hold them for the shortest time possible. That's why I have a hard 10% profit target. I'll take the chunk in the middle of a move and then get out of the stock. Sure, the stock may move 20 or even 30%, but in all the tests I've done, the stocks tend to retrace or stall after a 10 - 15% move. When it stalls or retraces, it's my belief that it will probably enter 'dry up' again and I'll get back in.

The 'floppies code' method, which I have almost competely coded into Amibroker, has a maximum hold period of 16 days. Perhaps that may be better?

I don't think this method is suited to a longer term hold. Perhaps you could adapt it by looking at weekly charts and focussing on the channel / FTT, which I have not even touched in my setup.
 
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