I'm going through the October camtasia (better late than never!) and Jack is talking about creating some threads here on elitetrader where he's going to manage a portfolio or walk through his trading methodology, apparently under a new nickname. Has this started, yet? Can someone please post a link if they have it handy? thanks, -f.
While I'm at it, I notice that Jack's <a href="http://hersheyuniverse.blogspot.com/">blog</a> hasn't had any activity since the 4th of October. Has this been moved elsewhere or is he just refocusing his energy? Yeah, I know, trading futures isn't something that I'd planned to do for 6-12 months, but it was interesting to follow along.
When is the venerable Mr Hershey going to give a blow by blow account as to WHY the promulgation of the market's/people's psychological workings won't lead to the market's changing.He seems to know but the story doesn't flow.
Jack currently finds himself on sabbatical from ET (and his blog), but promises to return to posting in the very near future. - Spydertrader
Quick question- if we were to look 'outside the box' strategy-wise on Hershey stocks, does anyone have an opinion on JOBS? It's been floating just under the 20 SMA for a couple of months now. You would have to have a small portion of your account with which to discount 'money velocity'- that is, buy and hold until it finally breaks through. But if/when it does, it should in theory have some significant gains. I'm just curious if this is likely to in fact happen (eventually break 20 SMA and shoot up), and also if discounting money velocity is so opposite to the essence of these journals if it's even worth considering. Thanks
we reduce our market risk by waiting to act until we see money flowing into the stock (either to the long side or the short side). acting before this occurs is far more akin to predicting...which we want to avoid. prediction increases our own risk, anticipation based upon NOW (volume flow into the stock) reduces risk. this is the basic premise of what we do anyway. (this is not to say your analysis is or is not correct. it is just that the thought paradigm is inefficient. You acknowledge the hit to money velocity by entering and waiting so that is good. here's the deal. as small investors we will lose if we try to compete with others on an information playing field. That is to say, (example) JPmorgan will ALWAYS be better and more informed about true value/prices of a stock than we will. We can't win against the monoliths in this manner, but we can follow their actions and profit as they bring old values to new values. Read the Larry Harris book, we are parasites. embrace it, for it is good.
I didn't like the look of COGO this morning, and as a result, decided to exit the trade a few cents above my entry point. Without improved volume (based on PRV comparison) I didn't see price improving. I consider this a wash trade - even though the profits might buy me a pizza for dinner tonight. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1248550>
I recently received a request to locate a 'Recommended Reading List' posted by Jack at one point (might have happened on ET or elsewhere). I currently haven't had any success of locating anything. Anybody here have a link they could post? Thanks in advance. - Spydertrader
Speaking of books, can someone tell me the name of the book Jack was using in the July 27 video ( the one with no audio). TIA