2005-07-28, Thursday - Lists Hershey Wealth-Lab Chartscript Culling Methodology Hershey Chartscript Scans / Qcharts Culling / Stocktables.com Sort Hot List FORD NGPS SNHY SOLD Dry Up Stocks BCSI IIG MCRI RTSX SNHY TRGL UBET Hot List Stocks Scores FORD - 5 NGPS - 2 SNHY - 2 SOLD - 0 Dry Up Stocks Scores BCSI - 4 IIG - 7 MCRI - 2 RTSX - 5 SNHY - 2 TRGL - 2 UBET - 5 Keep an Eye on These Stocks UBET (Attached) The following stock has been ADDED to the Final Universe List as of 2005-07-27: SOLD. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=801759>
For those of you new to the journal, attached is a spreadsheet that will cull a list of symbols by float, avg volume, EPS, and price. Just paste the list of symbols directly from your stocktables.com list into the spreadsheets, it will fill all the necessary information from finance.yahoo.com. Some of the float numbers are coming up as zero lately, so you can find those few from another source. This is an alternative to using other sources, such as Qcharts, and is free. The data tends to be less reliable than Qcharts, however. After hitting the "fill" button the macro will automatically hide all rows with symbols that do not meet the criteria (which can be changed at the top of the spreadsheet). It should help speed up your culling process.
2005-07-28, Thursday - Update This morning, I monitored one list of stocks (7 total equities): Those equities from our daily Hot List and from our Final Universe List finding themselves "In Dry Up." Dry Up Stocks BCSI IIG MCRI RTSX SNHY TRGL UBET Our system generated two possible trade signals from the list of seven Dry Up Stocks when actual volume exceeded calculated "Low Band" Dry Up Volume prior to 11:30 AM. Dry Up Stocks Triggering Signal MCRI TRGL Dry Up Stocks NOT Triggering Signal BCSI IIG RTSX SNHY UBET MCRI did not show price improvement ($21.25) at time of signal generation (9:30 AM). In addition, MACD Histogram showed a negative return (-.6306). Also, The Stochastic Indicator fell below desired levels (0.00). As a result, I took no action with respect to entering into a long position with MCRI. TRGL did show price improvement ($26.10) at time of signal generation (10:23 AM). However, MACD Histogram showed a negative return (-.1033). In addition, The Stochastic Indicator fell below desired levels (27.54). As a result, I took no action with respect to trading TRGL. - Spydertrader
2005-07-28, Thursday - Update Only MCRI exceeded FRV Levels by EOD. The remaining Dry Up Stocks failed to exceed FRV Levels by EOD. - Spydertrader
2005-07-29, Friday - Lists Hershey Wealth-Lab Chartscript Culling Methodology Hershey Chartscript Scans / Qcharts Culling / Stocktables.com Sort Hot List FORD NGPS SNHY Dry Up Stocks DCAI IIG PARL RTSX SNHY TASR UBET Hot List Stocks Scores FORD - 0 NGPS - 5 SNHY - 0 Dry Up Stocks Scores DCAI - 0 IIG - 0 PARL - 5 RTSX - 7 SNHY - 0 TASR - 4 UBET - 0 Keep an Eye on These Stocks DCAI (Attached) <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=802570>
I plan to post The New Scoring Matrix Scan, and Hershey Chartscript V 3.0 over the weekend. Both Wealth Lab Developer files and Wealth-Lab Web Site Versions will be included. Beginning Monday, I'll only use the New Scoring Algorithm when posting to the Journal. - Spydertrader
2005-07-29, Friday - Update This morning, I monitored one list of stocks (7 total equities): Those equities from our daily Hot List and from our Final Universe List finding themselves "In Dry Up." Dry Up Stocks DCAI IIG PARL RTSX SNHY TASR UBET Our system generated one possible trade signal from the list of seven Dry Up Stocks when actual volume exceeded calculated "Low Band" Dry Up Volume prior to 11:30 AM. Dry Up Stocks Triggering Signal DCAI Dry Up Stocks NOT Triggering Signal IIG PARL RTSX SNHY TASR UBET DCAI did not show price improvement ($23.42) at time of signal generation (11:23 AM). In addition, MACD Histogram showed a negative return (-.2076). Also, The Stochastic Indicator fell below desired levels (22.24). As a result, I took no action with respect to trading DCAI. - Spydertrader