Spydertrader's Jack Hershey Equities Trading Journal III

[rbaker]

Haroki

I did trade IAAC recently. It signaled on 3-16 at 19.07 at 9:34am. It did not reach FRV by end of day so I exited the next open on 3-19 at 19.27. Net of +27. IT WAS A PAPER TRADE ONLY BECAUSE THE VOLUME WAS LOW.

 

[Haroki]

LOL - yeah, that's the only way I'd trade it...

BTW - in COGO 17.52 - just bounced off of RTL on increasing vol

 

[chiefraven]

hey Haroki, how did you find OMG, PRXI, and DAKT? i dont have them in my Final Universe?

I do the scan on the entire market also as described by spyder each day, but haven't been able to add any new symbols lately.

did you loosen the requirements slightly or what?

 

[Haroki]

No they're just in my initial universe, which I get through TC2007. I get a list significantly different than those using stocktables, but the list is still quality. I use the same EPS,RS price, float, volume, and pos earnings that you do. Curiously, if I add insider and institutionally owned stocks list total up to 9 only, and I believe the last time Spyder put a IU, he had like 150ish....

I usually run 3 qoute sheets in Qcharts-

My initial universe

the final universe

and a Hotlist of stocks in dry up, Bruno, etc.... and I also add to the hotlist stocks from either the initial or final that meet channel/volume setups.

I also sort my quote sheets by % gain since open, since it SEEMS to give me an earlier view to those stocks taking off. Bear in mind that I still use the unusual volume column in my decision making. If it doesn't appear that it'll beat yesterday's volume on a PRV basis, I pass...

In actuality, many of my trades - maybe 30% - don't come from my hotlist, but pop into view on the IU and FU quote sheets. And when I see them and see that I missed a good setup, I will trade it, but usually keep much tighter parameters on holding, since they haven't demonstrated an ability to cycle.

 

[Haroki]

Just reviewing the day - even though I'm out of GROW, look at the buying volume in the last 1 minute today.....

It's popped above my RTL at close. Huge again tomorrow?

 

[UriKai]

Quote from Spydertrader:

Welcome to the discussion. I hope you continue to find the many posts within the Journals helpful to your success. To help with Gaussian Volume Formations, check out this attachment. To get up to speed on FTT's, begin reading here. As you continue along reading, more and more areas begin to come into focus as the puzzle pieces fall into place.

With respect to NVEC, Price and Volume tell the tale. We either have continuation or we have change. Tomorrow, the market plans to let us know which.

- Spydertrader

Thank you, Spydertrader.
This and other threads are so helpful as well as your posts.

I am always impressed because you find the right post to guide us toward the right direction.

I am reading as much as I can, but the materials are piled everyday, more than I can handle.
But, it is fun to trail the road.

I guess I understand where FTT happens.
"The same direction" you meant is RTL traverse, correct?
FTT only happens in RTL, while CCC or HVS happens in LTR.

Please correct me if I am wrong.
-- UriKai

 

[Spydertrader]

Quote from UriKai:

"The same direction" you meant is RTL traverse

If by the above you mean to say, "An FTT occurs during a Right To Left (RTL) Traverse and not a Left To Right Traverse (LTR)" then yes, you have correctly interpreted my explanation.

- Spydertrader

 

[chiefraven]

yeah that's what i'm hoping for GROW tomorrow. i got out half at 47... still holding the other half though. i should've exited at the top near 47.40. but my curiosity got the best of me, because i wanted to see what this stock will do when it finally reached PRV... it got close today, but didn't make it... but like you said volume and price were pretty good at EOD today, and it respected the channels pretty well, so hopefully it'll keep going tomorrow. After-hour for grow was respectable too.. with high being at 46.20

regarding Initial Universe, yes we do get about 100 or so from stocktables, but after you run a rank scan you only get about a handful though.... did you get those stocks after you run the rankscan or do you not run it?

you said you have a quotesheet for stocks in bruno? do you find the brunos through the chartscript from wealth-lab? 'cuz i usually go through my final universe to look for bruno stocks manually.... if you do use the program, how accurate is the chartscript in finding correct brunos?

 

[Haroki]

Ok, I run my initial - but omit the insider and insitutional - and get about 100 stocks. I put those on a quote sheet. But when I add the I&I owned only 9 make it through. 9 is too small for an IU, so I add the 9 to the FU, but keep in mind that they don't cycle.

I run the above 100 through W-lab to find cycling stocks and get my FU. Right now it's around 25 - I'm sure you have the list.

I then run the FU through the Bruno and dryup scripts. I like the dryup, but the Bruno sometimes catches them kinda late - with the fast sto up around 80+ on the daily.

I really catch most of my selections doing the channel/volume work though, and I only sporadically use the scripts any more, other than to find cycling stocks.

I may look into the msn messenger tonight or this weekend - I'll pm you if I do to get on the list...

 

[chiefraven]

also after a rank scan, do you weed out the ones that dont fit the requirements? 65 day average volume, eps, float.