ENG chart shows price developing a base - possibly before the next breakout. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1043784>
FWIW - I think it is in dry up and look for a break of 12.60 on strong volume for entry. DS ps-if you are a Fibonacci fan, it is at 62% retracement from its last up move.
TASR looks very good to me and there are a lot of similiar stocks BO. Specifically, in the past 2 days. Yesterday seemed like the beginning of an up half cycle in the indexes which i find is a great time to enter stocks for their natural half cycle. I will keep an eye on that ENG.
Sold GROW at 18.25. Like I said, the entry was due to a mistake, but I still made 2% on the position. CKCM hit FRV at about 3:50 so I'm going to hold it overnight. Position is up about 2.3% right before market close.
I guess SFCC is starting to heat up IMHO... <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1043982"></img>
I plan to monitor the following stocks tomorrow. Some Dry Up - Some Not. Thoughts? ENG FMD FTEK MIND NWRE SFCC SIRF TWGP - Spydertrader
Hi Spydertrader, Great journal! Thanks for all the effort you've put into it. I recall reading in your first journal that the Jack Hershey Equities Method works not only on an intraday basis but also on an end-of-day basis. I wonder if you or anyone else who follows this thread and is trading the method can talk about trading it EOD? What are your experiences? Observtions? Unfortunately, I work during the day and cannot monitor trade setups to enter after the market opens. Any insights you could offer would be much appreciated. Kind regards, chaos
You can set most software programs (I used Quotetracker when I traded part time) to email your mobile phone alerts based on a variety of settings. I used volume alerts, but you could also use trendlines or any other indicator in your charting software. In addition, you could search for stocks in recent pullbacks from their longer term channel and set a line at which you could be sure the trend had reversed. Set a buy stop (limit) order at this price point, and head off to work. At this point, if the stock does break out, the market rises to bring you into the trade. Also, some brokers have conditional orders you can place. By example, you could automatically place your trailing stop once your long order is filled (MBTrading has numerous order types that fit the bill). Lastly, some people have developed automated programs to monitor the market and place their orders through a brokerage application. I recommend exhaustive testing before implementing this approach. As you can see numerous methods exist for adapting your trading style to regular working hours. Depending on the time zone of your home city, additional solutions exist as well. I hope that helped. - Spydertrader