I apologize for not answering you sooner, but connectivity issues with my local internet provider have kept me offline intermittently over the last few days. For some reason, Wealth-Lab.com failed to update its data as of 9:00 PM Eastern Time yesterday. Any runs of the chartscripts / scans prior to that time used incorrect data (the data still had 11/11/2005 as the date). While I did have KNDL on my list of "Dry Up Stocks" for yesterday (resulting from the Sunday Night Scans), I did not have KNDL "In Dry Up" for Tuesday. KNDL did appear in the Hotlist for Tuesday, but not in the list of Dry Up Stocks. I hope the above provides some clarification for you. - Spydertrader
haha, thanks spyder. i thought it was kind of strange that the scan results were the exact same as the day before. will look out for this in the future! -Ben
Reentry Question: As I understand the entry setup, stocks that pass the screens and are in dry up are entered on these conditions: Time is before 11am eastern Stochastics>80 MACD difference>0 Price>yesterday's close (YC) Volume>DUV or Assuming the price,stochastic and macd conditions are met, take the trade anytime provided FRV is exceeded. Yesterday, I was watching ANTP (as it turned out, it is disqualified as float is below limit), but it entered in the morning on v>duv and C>yc and then the trade jumped and exited based on the 10% profit target. Later in the day, the FRV condition was met as well as the others and a signal for a second entry was generated. My question is do you take this second entry on the same day or just be happy? Also, critique of my understanding of the entry conditions is appreciated. Doug
Hi Doug, Where do you get the DUVolume() and PeakVolumeJack() indicators for Tradestation? Did you program it yourself? Thanks. Regards, William
marty, I programmed them in TS. I get fairly good agreement with the results from Wealthlab but not all agree. DUV examples: ANTP by WL is 27.2 while my TS method gets 45.4. For FORD I get 195 and WL shows 193. Some others I've been following: boom 360 295 nuro 21 36 gmxr 23 30 kndl 31 49 pfwd 16 22 ptc 20 18 The first number is mine and the second is from WL. My PV is very crude at this point. I don't know why the difference in duv. I've not spent any time learning WL code; I just wanted something to look at on my screen that was close to the WL numbers. Since I'm only trading play money, I figure I've got time to refine my ways . Or, since the numbers are reasonably close, it may not make much difference as there are lots of trades and missing a few should not matter that much. FWIW-my "play" trade today was PTC; it jumped early in the day but came down with the rest of the market later. It is still showing a profit. I'm still holding it as no exits were triggered. DS Doug
It depends. Not to sound flippant, but I find understanding the role volume plays in a particular price trend helps facilitate the decision making process with respect to buy, hold, sell or re-enter. In addition, planning and decision-making should occur prior to the required action step. By example, price has improved exceeding the 10% target. What's next? Your question illustrates why I place a significant emphasis on reading the background material and the attached documents in the Original Journal. We know from Jackâs Jokari Window when we see decreasing volume in conjunction with increasing price to anticipate an upcoming change in price trend. We also see in Jackâs Jokari Window unchanging price results in a gradual (more or less) price degradation over time (4 oâclock drift). A review of the 30-minute ANTP chart for 2005-11-14 yields some interesting observations. In the morning, we see both price and volume increasing in tandem with an unchanging volume and (more or less) flat price trend midday. In the afternoon, we see both price and volume increasing in tandem once again. However, if we observe the entire day as a whole, we see a gradual decrease in overall volume as the day progresses (draw a trend line over the volume bars if you have trouble seeing the downward trend). As a result, experience tells us to anticipate an upcoming price trend change. It appears as if we have conflicting signals, when in reality, we do not. After all, we did already bank a 10% gain. Clearly, we have actual volume exceeding FRV levels prior to EOD, but also (and perhaps more importantly) we have a downward trend with respect to volume. Since decreasing volume combined with increasing price often indicates a change in price trend, we would not re-enter with a long position (unless it was our desire to lose money). In other words, the correct decision-making process is not, re-enter or sit on the sidelines, but rather, hold or sell â a decision made much earlier in the day. You might want to consider selling half (or three quarters) of your shares allowing the remaining shares to ride out the price fluctuations in an effort to improve profitability. For me, I require confirmation of continuation of both the price and the volume trends before I hold beyond the 10% price target. In other words, increasing price and increasing volume tells me to anticipate a price trend continuation. In such an example, holding beyond a 10% gain has an improved probability of increased profit. I hope you found the above post helpful. - Spydertrader
Here is my dry up list for Wednesday 16th. Symbol: FORD Upper Band = 577,716 Average DU = 385,504 Lower Band = 193,292 FRV = 1,156,512 Peak = 2,313,024 Symbol: KNDL Upper Band = 146,055 Average DU = 97,461 Lower Band = 48,867 FRV = 292,383 Peak = 584,766 Symbol: LIFC Upper Band = 319,958 Average DU = 213,505 Lower Band = 107,051 FRV = 640,514 Peak = 1,281,028 Symbol: NGPS Upper Band = 219,578 Average DU = 146,522 Lower Band = 73,466 FRV = 439,565 Peak = 879,131 Symbol: NTRI Upper Band = 361,818 Average DU = 241,437 Lower Band = 121,057 FRV = 724,312 Peak = 1,448,623 G87
I'm also relatively new at this but BOOM and GMXR do not have highband volume > today's (11/15) volume, which I believe is one of the requirements for entry. (This turns the chart green on the scan). Therefore, I don't think that they qualify, but I could be wrong.