2005-07-21, Thursday - Lists Hershey Wealth-Lab Chartscript Culling Methodology Hershey Chartscript Scans / Qcharts Culling / Stocktables.com Sort Hot List CMT FORD MCRI NGPS SNHY Dry Up Stocks DCAI Hot List Stocks Scores CMT - 7 FORD - 7 MCRI - 7 NGPS - 7 SNHY - 5 Dry Up Stocks Scores DCAI - 1 Keep an Eye on These Stocks TRGL (Attached) The following stock has been ADDED to the Final Universe List as of 2005-07-20: SNHY. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=795978>
Great journal, thanks. What do you do if the volume triggers a buy at 10:30, but the MACD and Stoch don't reach target levels 'til 11:00?? Assuming volume is still on a good pace and price is reasonable, any feel for whether buying at 11:00 is a good idea?? Thanks!!!
If all the parameters don't fall within desired levels at time of signal generation, I pass on the trade. If the situation you describe occurred, I would look to EOD to see if volume reached FRV levels rather than enter at 11:00 AM. - Spydertrader
Suppose a stock looks good for all the signals, LB volume exceeded prior to 11:30 AM, MACD Hist +, Stochastic >75 and positive price movement, but doesn't reach FRV by EOD and you sell out. Suppose it doesn't even reach the UB volume threshold by EOD - would it still be on deck to be bought the next day? Technically the stock would be in DU again and if we hadn't traded it, we would if the signal occured the next day. What's the best or recommended course of action. I'd say its probably ripe to trade again the next day for the same reasons you'd trade it the first time. Should a stock simply be held in this case if price is still positive and you aren't below the 2% stop? After all it might still pop the next day right? I'm curious as to what you'd do in thi instance. Has this happened to anyone using the method? -ace
If actual volume fails to exceed FRV levels by EOD, I exit the trade. If as you suggest the stock finds itself in Dry Up on the next day, and the process repeats, you enter again if the parameters align correctly. With the advent of Dry Up Volume range, we receive an increased number of possible signals. However, many of these signals turn out to be False (Failed) Break Outs (FBO). Holding an equity overnight which did not exceed FRV levels by EOD increases the probability of loss. I have on occasion broken this rule when I allowed greed to override the system, and almost every time, the market promptly handed me a reminder of why I need to follow the rules. The following post reviews this lesson http://www.elitetrader.com/vb/showthread.php?s=&postid=771236&highlight=greed#post771236 - Spydertrader
2005-07-21, Thursday - Update Our system failed to generate any trade signals today prior to 11:30 AM. I continue to hold 1000 shares of both MCRI and NGPS. - Spydertrader
2005-07-21, Thursday - Update I continue to hold the following equities: 1000 shares of MCRI from $25.38 1000 shares of NGPS from $32.50 - Spydertrader
2005-07-22, Friday - Lists Hershey Wealth-Lab Chartscript Culling Methodology Hershey Chartscript Scans / Qcharts Culling / Stocktables.com Sort Hot List CMT FORD Dry Up Stocks DCAI IIG SNHY TASR TRGL UBET Hot List Stocks Scores CMT - 5 FORD - 2 Dry Up Stocks Scores DCAI - 0 IIG - 4 SNHY - 0 TASR - 5 TRGL - 0 UBET - 0 Keep an Eye on These Stocks DCAI (Attached) <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=797240>
Spyder- CMT love it for a long, it just confirmed a inverted H&S Ford Love it for a short, engulfing bar on the daily with volume. UBET Still think it will retest the high The rest well they look so so to me.... Good trading to you. I will be all over CMT in the A.M. if I get a set up.