Normally, I follow Jack's recommendations and avoid trading at all on a FED Meeting Day (Greenspan Day as Jack used to call them) in order to avoid some of the craziness which can occur on such days. Even if I sit on the sidelines all day, I watch the trading to see how different markets react in an effort to learn something new. However, if I do trade on a Fed Day, I reduce my position size significantly and / or try to exit well in advance of the afternoon announcements. Such a strategy permits me the opportunity to exit my trades before the heard starts heading for the doors. - Spydertrader
Learning the Hershey method has been quite challenging -- however, I am still at it -- thanks for the guidance so far to Spyder..
Took the $150 dollars and ran this morning as I sold off all my shares of NDAQ. Sitting all in cash at the moment, but a number of equities do looking tempting at the moment. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1022358>
GMXR looks like it may be a possibility right now... anyone seeing the same? I am gun-shy due to Fed meeting though..
GMXR set up yesterday as a classic Dry Up Stock. One only needs to look at price action for yesterday afternoon to see GMXR had flattened out. It certainly doesn't get much flatter than that. Today, with increasing volume, we see increasing price. As a result, GMXR now finds itself back in the medium term channel. As I stated earlier, I normally avoid trading on Fed Days. A trader never wants to find himself without a seat in the Fed Day game of musical chairs. Even if you sit out GMXR entirely, know another fast moving train will be along shortly. - Spydertrader
spydertrader, can you please validate or post your final universe as of today. Attached is mine. I just want to make sure I'm doing this right. <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1023120"></img>
hey 4X: you run your intial scan from stocktables.com with the following parameters: RS > 90 EPS > 80 Dollar min 10 Max dollar 50. i'm missing several of the symbols you have listed without even running the wealthlab scsripts? thx
Here is my list of dryups for tomorrow. BNT BTUI FMCN IIJI SFCC TRLG I didn't get any overspray from the Ben Bernanke burp because I was safely under the umbrella of cash. gooch87