I'm on page 99 of the journal. Great stuff! I'm especially grateful for the last page though where you compile everything in easy to follow directions One thing I'm having a problem with is finding information on these criteria... 1.Have a float less than 60,000,000 2. Have a float greater than 5,000,000 3. Have a 65-day average volume above 200,000 shares MSN does not show float that I can find, and Yahoo just shows N/A for it on every stock I've checked. And I can't find 65-day average volume anywhere. I've looked at QuoteTracker and it doesn't seem to show these either. Is QCharts the only option here? Thanks again.
Thanks Mr. Blue, after googling unsuccesfully I tried MSN Search and also found that it is available at clearstation.com. Cool. Now I just need to find the 65-Day average volume thing.
I believe once a month Spyder goes through the list and see if the stock produces a score using the wealth-lab scripts. If it fails to produce a score, the stock is removed.
I use Qhcarts to quickly sort through this data. However this information remains available through the Quote.com web site as well. - Spydertrader
As MrBlue999 correctly observes, I remove a stock from the Final Universe List for failing to maintain rank. I perform this task at the end of each month in order to allow a stock which lost its rank an opportunity to reacquire one. I have also, in the past, removed a stock from the list when the company represented by the stock symbol underwent a buyout, takeover, or merger. - Spydertrader
Hi Spydertrader A couple of questions on entries: when the symbol fails to reach low band DU volume, MACD and Stoch levels by 11:00, you give it a "second chance" at EOD, right? But in this case do you only consider DU or again MACD and Stoch? Is it right to say that these are the only two types of entries provided by the method? Again: do you avoid buying a symbol if the general market indicators don't look right on a particular day, even if the above conditions are all true? Thank you in advance and congratulations for your outstanding work. GS
The system itself seeks to enter into a long position as price and volume begin to breakout. Jack calls these circumstances First Rising Volume (FRV). Using Dry Up Levels as a trigger prior to 11:00 AM permits earlier entry and (hopefully) increased profits. In an effort to capture an increased number of these breakouts, I use Low Band Dry Up Volume as my entry signal by 11:30 AM. The stocks in which we hold a position need to have a volume level which exceeds FRV levels by EOD in order to hold overnight. As a result, we use look for our 'second chance' to enter long with stocks that did not meet requirements for entry by 11:30 AM. These stocks must have a volume (also MACD, Stochastics levels) which exceeds FRV levels by EOD - not DU levels by EOD. I hope that clarifies things a bit for you. In addition, one might use average Dry Up Levels or some Pro-Rata (25%, 50%, 75%) level of Dry Up Volume in order to enter into a long position or to short a position. In my experience, I have given away profits many times by not following the system, simply because in my arrogance, I thought I knew better. I strive to avoid such mistakes now. As a result, if the system says long when the market is tanking, I enter long, and if the system says short when the overall market makes a new high, I follow the system and short. I strongly the background material posted at the beginning of the first Journal (linked above). The URL's provided contain a wealth of information helpful to understanding the nuances involved with trading this system. - Spydertrader
Spydertrader, Have you considered doing a journal on shorting using a modified Hershey Method? Gooch87