Spydertrader's Jack Hershey Equities Trading Journal III
- Thread starter Spydertrader
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As per your earlier quote:
I'm assuming that you're scanning then entire market when you say that you are using EOD data. This is fine if you are willing to take on additonal risk. However if you want to manage your risk better, then it is more advisable to stick to stocks that meet the RS/EPS requirements outlined in Journal 1.
Also, are you screening your stocks that they meet all of the criteria before putting them in your final universe? i.e. daily volume, float, price, positive EPS, etc?
Finally, you don't need to do step 3 before putting your stocks in the final universe. Once a stock has a achieved rank (your step 2 outlined here) it can go into the FU, then each day take your FU and do the Dry up volume Scan.
Perhaps an easier way to learn the method is to simply use Spydertrader's final universe (look back a few posts) and do the dry up volume scan on this each night. It saves you the time of having to do all the culling yourself and you can focus your efforts on looking at the individual chart of each stock.
Lucky you that you broke even - wish I could say the same.
Good trading to you!
Angie
I'm assuming that you're scanning then entire market when you say that you are using EOD data. This is fine if you are willing to take on additonal risk. However if you want to manage your risk better, then it is more advisable to stick to stocks that meet the RS/EPS requirements outlined in Journal 1.
Also, are you screening your stocks that they meet all of the criteria before putting them in your final universe? i.e. daily volume, float, price, positive EPS, etc?
Finally, you don't need to do step 3 before putting your stocks in the final universe. Once a stock has a achieved rank (your step 2 outlined here) it can go into the FU, then each day take your FU and do the Dry up volume Scan.
Perhaps an easier way to learn the method is to simply use Spydertrader's final universe (look back a few posts) and do the dry up volume scan on this each night. It saves you the time of having to do all the culling yourself and you can focus your efforts on looking at the individual chart of each stock.
Lucky you that you broke even - wish I could say the same.
Good trading to you!
Angie
Angie,
The Excel Spreadsheet macro I am using is supposed to scan the stocks to make sure they meet the criteria. However, I only check the ones that come up in the DU scan.
Perhaps, in order to save time for now and concentrate on learning some more basics, I should go back to using the stocktables.com. I will start with the FU listed by Spyder and grow it from there.
Thanks again!
Jamey
Anyone in TRCR this AM? I got in late and have a buck and change profit. Thinking of closing, but I took a glance at my daily chart with various cyclic and pivot indicators and TRCR has broken the weekly, monthly and quarterly highs.
Let's just say that is very strong. If today's date was in late August or mid September I'd be inclined to hold for a swing trade. Comments?
Let's just say that is very strong. If today's date was in late August or mid September I'd be inclined to hold for a swing trade. Comments?
I bought it a little later than you. There was a bunch of good news out for them this morning. In addition, their daily chart indicators that I am using for Hershey trading are all very strong. I have about .30 profit right now. I think I'll put in my 5% trailing stop at this point.
Jamey
P.S. BTJ is up again today, but 1.25 off its highs. It's almost hit my stop. Still, 5.5 points of profit ain't too bad.
I stayed away from TRCR due to the huge gap up. Turned out there was still more room to run. Oh well.
Entered into CMED and still holding for a 2% gain so far.
BTJ was up as much as 12% for me but after the retreat, I took profit at 10.8%. I'll take that kind of gain over 2 days any time.
Entered into CMED and still holding for a 2% gain so far.
BTJ was up as much as 12% for me but after the retreat, I took profit at 10.8%. I'll take that kind of gain over 2 days any time.
NEW YORK, Oct. 25, 2007 (Thomson Financial delivered by Newstex) -- Shares of Transcend Services (NASDAQ:TRCR) Inc. are higher Thursday after the company reported third-quarter earnings of $1.66 million, or 19 cents a share, a five-fold increase from 2006.
Revenue rose 34% to $10.6 million. The company attributed the improvement to productivity gains thanks to speech recognition technology and the use of offshore transcription resources.
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First strong resistance @ 20 +-
But the stock is up nearly a 20% already ( 7% from open)
Obviously it depends on your time frame, for a daytrade I would take my profit now and keep an eye on it , maybe enter again later if/when it gains momentum toward the up side
Considered it when the price retraced to "only" +10-11% early today but decided against it due to limited liquidity. Nice when things are going up, can be nasty if it comes crashing down. Has done well today but almost at peak volume already.
Bought CMED instead. Up 4% or so. Waiting, waiting...
Suss
Bought CMED as well. Only up a little for me, as I think I got in a little late. Only up 1% or so at this time for me. Waiting to see if it jumps again this afternoon ...
Jamey
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