I must be missing something. I have been following this nice journal to learn a lot of Hershey's techniques but I haven't seen any trades go into the expected 6-8 day holding period since I started reading this three weeks ago or so. So my question is this - Should we only be trading Hershey methods when the major indexes are up and/or not down? I was looking to use for for 6-8 days trades to make 15%, but the "system" isn't working and I'm only in stock intraday or overnight sold the next day. Is this just the nature of the today's market? Respectfully, Jakeytrader
Although Jack Hershey recommends a 6 to 8 day hold period for equities which qualify, I only use a four day maximum hold period. I have found the lower maximum hold time has reduced the number of overall losses experienced by holding longer. In many of Jack's posts, he has also advised shortening the hold time in order to increase money velocity. Although this system provides both long and short signals, which, for the most part, occur independent of overall broader market direction, August traditionally presents many challenges to traders. My own trading during the first half of August resulted in numerous losses. I expect September to provide improved volume on the trades we take. The increase in volume follow through should result in an increase in the number of trades held overnight and beyond. Hope that helps. - Spydertrader
2005-09-02, Friday - Reg SHO Update DCAI, FORD, & IIG still appear on Friday's's Reg SHO Threshold List. - Spydertrader
2005-09-02, 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 CKCM DCAI FORD IIG IRIS NGPS RADS SNHY Our system generated one possible trade signals from the list of eight Dry Up Stocks when actual volume exceeded calculated "Low Band" Dry Up Volume prior to 11:30 AM. Dry Up Stocks Triggering Signal IRIS Dry Up Stocks NOT Triggering Signal CKCM DCAI FORD IIG NGPS RADS SNHY IRIS did not show price improvement ($17.00) at time of signal generation (10:10 AM). In addition, MACD Histogram showed a negative return (-.0228). Also, The Stochastic Indicator fell below desired levels (28.12). As a result, I took no action with respect to trading IRIS. - Spydertrader
2005-09-02, Friday - Update Very low volume today across the board on our Dry Up Stocks. I do not anticipate any exceeding FRV Levels by EOD. - Spydertrader
2005-09-02, Friday - Update None out of our List of Dry Up Stocks reached FRV levels by EOD. Enjoy the Holiday Weekend Everybody! - Spydertrader
Hello All You SpyerTrader Fans !! I trade several, altho not all, of the SypderTrader Universe Stocks. I do not use the Hersey Method altho some of the "analysis" I use is similar. Anyway, this week I traded FORD (see previous post) & had positions in IRIS (200@17.01) & RADS (100@11.83) going into today. Today, near the close I sold 1 Oct15c on IRIS @ 2.50. MY TAKE on IRIS is while its a +/uptrend stock its MO isn't likely to carry it over resistance in 17-19 area while support around 15 is good. Therefore, as a "chicken trader" I chose to hedge for an expected approx 21 3/4 - 22 % anualized gain. NOTE: on the other 100 IRIS shares I had sell order for Oct17.50c which was not executed. As for RADS, I'm growing desperate (perhaps a bad choice of words given my huge 100 share position). RADS needs to get over $12 to leg up & showed no signs of doing so. GOOD TRADING to you ALL !!
Thanks again for posting your observations and trades. I too didn't have a lot of faith in today's market when reviewing the data last night. End of the Summer, Long Holiday Weekend, mixed economic news and the after affects of Katrina combined to create a day where volume just didn't seem to want to hang around. As a result, we witness a number of equities undergoing "4 o'clock drift" or an out right downtrend by EOD. I look forward to next week, and hopefully, some follow through with respect to volume. - Spydertrader
To create the following lists of stocks, I used 90 RS and 80 EPS. Using 90 RS and 90 EPS resulted in an initial stocktables.com sort of too few equities. 2005-09-06, Tuesday - Lists Hershey Wealth-Lab Chartscript Culling Methodology Hershey Equities Rank V 3.0.0 / Qcharts Culling / Stocktables.com Sort Hot List DPTR FORD HANS IRIS NETL SNHY VPHM Dry Up Stocks CKCM CMT DCAI ELOS FORD HANS IIG IRIS JMDT MCRI NGPS RADS RTSX SNHY Hot List Stocks Scores DPTR - 0 FORD - 0 HANS - 0 IRIS - 1 NETL - 5 SNHY - 0 VPHM - 0 Dry Up Stocks Scores CKCM - 0 CMT - 0 DCAI - 0 ELOS - 0 FORD - 0 HANS - 0 IIG - 0 IRIS - 1 JMDT - 0 MCRI - 1 NGPS - 1 RADS - 0 RTSX - 0 SNHY - 0 Keep an Eye on These Stocks NGPS (Attached) <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=833059>
http://www.elitetrader.com/vb/showt...6812&highlight=trading+session+off#post636812 Similarly to the half day volume experienced on the Friday during the Thanksgiving Holiday, we see another day in which unusually low volume across many stocks has the potential for skewing our system results. As I indicated in the post above, one should exercise caution when trading under such conditions. - Spydertrader