Spydertrader's Jack Hershey Equities Trading Journal III
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Thank you for posting additional stocks which qualified.
When my Final Universe falls below a total of 20 stocks, I relax some of the culling criteria slightly in an effort to find more cycling stocks for inclusion - expanding my search to the entire stock market instead of limiting the initial cull to the top 80 ranks of EPS and RS. While lend only has 9% Insider Owned shares, it has 95% Institutional Owned Shares. With Plenty of Intra-day Volume and a low Price, Lend has the potential to hit a 10% move quickly.
Again, thanks for sharing these.
See Instructions for Chart Posting here.
- Spydertrader
i have FRPT and BONT in the final universe as well. both of these came from the entire market scan a month back or so... and they continued to be one of the ranked stocks this month.
may i ask when and how you got GMKT, JADE, JSDA, IIG ? in addition, i had BITS a while ago but i think i deleted it last month because it failed to maintain rank... and since it wasn't in my last month's basket, i didn't run the rankscan on BITS.
may i ask when and how you got GMKT, JADE, JSDA, IIG ? in addition, i had BITS a while ago but i think i deleted it last month because it failed to maintain rank... and since it wasn't in my last month's basket, i didn't run the rankscan on BITS.
Thanks for posting these. I plan to take a look at both of them tomorrow after the close.
The list of stocks you mention came from a Full Market Scan I performed when the Total Number of ranked stocks in my Final Universe fell below 20 symbols.
- Spydertrader
Chiefraven mentioning BONT prompted me to look into EPS ranks a bit. BONT's chart looks great but I have an EPS rank of 48 for it. That rank comes from Quotes-Plus. EPS rank is not a raw number but a calculated one. Each provider of an EPS rank seems to use a different proprietary method of calculation resulting in different ranks for otherwise great stocks and presenting traders with different stocks when running scans. I believe it was William O'Neil who started calculating EPS ranks.
So far I have yet to find a data provider that discloses its proprietary EPS rank formula. That in turn makes me doubt the validity of the ranks. I don't really know what I work with, no matter what data provider I use.
As a trader I am interested in finding stocks that qualify no matter what rank number a data provider assigns.
I ran a scan with the usual criteria but with a minimum EPS rank of 45 and got several symbols that look absolutely qualifying with strong uptrends, lively and cycling price behaviour but their EPS rank wasn't as high as we normally want.
I have the suspicion that the EPS rank number might not be as important as I used to think because it says different things depending on the data provider.
I like to ask what you all think about this matter. What exactly you hope to obtain from an EPS rank? And do you know what your EPS ranks mean, formula disclosed? Etc.
So far I have yet to find a data provider that discloses its proprietary EPS rank formula. That in turn makes me doubt the validity of the ranks. I don't really know what I work with, no matter what data provider I use.
As a trader I am interested in finding stocks that qualify no matter what rank number a data provider assigns.
I ran a scan with the usual criteria but with a minimum EPS rank of 45 and got several symbols that look absolutely qualifying with strong uptrends, lively and cycling price behaviour but their EPS rank wasn't as high as we normally want.
I have the suspicion that the EPS rank number might not be as important as I used to think because it says different things depending on the data provider.
I like to ask what you all think about this matter. What exactly you hope to obtain from an EPS rank? And do you know what your EPS ranks mean, formula disclosed? Etc.
EPS and RS Rank provides a simple method for obtaining "High Quality Equities" during an initial cull of the market. As many have shown (going all the way back to the gallas2 MSN Screener criteria in Journal I), additional methods exist for obtaining an initial list of "High Quality Stocks." As long as one maintains a level of quality with an Initial Universe, how one arrives at the quality destination remains less important. For example, beginners trade only stocks which cycle 5 times in six months, but more advanced traders use any quality stock for making money. I too have never found a 'formula' for EPS and RS Rank. Then again, I stopped looking when I realized, quality itself is what matters and not a specific type of quality.
- Spydertrader
500 IAAC @ 23.09
i knew hershey traders got into IAAC... i was like... hmm who could be buying this choppy ass 30min IAAC chart haha.... dont worry guys i got 840 shares myself hehe
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