Is there any hazard price for which an equity ought not be considered? I recall in some thread that equities in the $20 to $40 price range are preferred unless they're tenured. How did this equity become tenured? Is there a hotlist duration interval that enables a stock to achieve tenure? G33M4K the Newb.
I think Jack liked stocks above $10 unless it was tenured. This may be a tenured stock. Nonetheless, I like his channels and buy besides the low price.
Spydertrader First thank you immensely for sharing your experiences with us. This is an outstanding thread. If I may ask, according to the WL script, the DU volume is 57,131 (this is using QCharts as a data source). The highest volume today on the 30 min chart was 49,155. Obviously according to my data, DU was not exceeded. Did you by any chance use a different method in calculating the DU? Otherwise, this simply may be a data source issue. Thanks again and best wishes.
Yes, UBET resides on my List of Tenured Stocks. I have traded UBET in the past making more than 10%, and as a result, the low price is not a concern. In addition, UBET has had a place on the Final Universe List for the past six months. On another note, it appears as though odd prints keep occurring with this stock today: 10/13/04 13:24:51 3.00 3.00 3.03 73291 10/13/04 13:28:15 3.00 3.00 3.03 -72091 The third such error today. Weird. Unusual to have so many order entry errors - if that is indeed the reason behind the misprints. - Spydertrader
Thank-you for your kind words. Hopefully, the journal can facilitate the learning process for all of us. Already, I have improved my methods thanks to the contributions of others in this thread. I suspect we have a data provider issue. According to my data provider, Volume for UBET at the time of your post: 97,678. The Scottrade 'Free' Data promotion currently provides the data I use. While I use several methods to calculate DU Volume, I used the Chartscript DU calculation for this particular stock today. Hope that helped. - Spydertrader
Currently, I use a stocktables.com price range for stocks set to $10.00 - $50.00 USD. This range came directly from Jack Hershey posted to his Hershey equities Method Thread. I define 'Tenured Stocks' as those that I have successfully traded in the past - for a profit. UBET received 'Tenured Stock' status about six months ago and was last traded by me prior to the start of this journal on 2004-09-09. UBET, and other such tenured stocks remain in the Final Universe List unless or until they lose their 'rank.' The loss of rank being a direct function of failing to generate the minimum number of required cycles in a six month period. Jack Hershey has been known to 'break all the rules' when it comes to his tenured stocks. Hope that helped. - Spydertrader
Spydertrader I coded the 7 TC2000 equatios for DU, FRV and Peaking, as described here by David Marshall, in WL: http://tinyurl.com/54ul6 I don't know how useful they will be to us. In any regard, if you want to take a look at them: 1) Copy the content of each text file to WL Script file and name them as the tile (minus the .txt extension of course 2) Save them to WL's Indicator folder. 3) To run the test script, just copy TestEquations.txt to a WL script file and run it. I'm sure you already knew how to do all this but I also want to make sure that I don't waste your time. At first glance, it looks like equation 5 is redundant. I have done a fair amount of WL programming. If I can assist with this effort in any way, please let me know. Thanks and take care svrz@myrealbox.com
Excellent! Many thanks for your hard work. I appreciate you sharing your efforts with those following the thread. Keep up the great work. - Spydertrader
Our rules kept us out ASKJ today - a good thing - considering ASKJ fell nearly a dollar from the open price. We had to wait nearly the entire day, but we did get some price improvement on UBET near the close. MACD was positive and The Stochastic indicator held at 79.9999 at EOD. Since we received no exit signal, we hold UBET. Depending on the method of calculation, ASKJ and UBET may or may not have hit FRV levels of volume. Most methods indicate they did. The chart Script at Wealth-Lab indicated they did not, but they came close using that method of calculation. With low priced stocks such as UBET, I use a 'mental' stop rather than a stop order. Since our stop price is only fifteen cents away from our entry price, we don't want our price point to become a target. I have the sell order queued and ready to go if price goes against me. I just don't have the order sitting out there. - Spydertrader
Sevens Ones Zeros YHOO URBN CRDN MTEX NAVR INSP JUPM HTCH PENN TRMB TASR CTSH MRVL GILD CYTC PENN CCBI BSTE INSP SIE ECSI FFIV UTHR FFIV PMTI LEND PMTI ---- PMTI LEND Hot List: TASR CRDN NAVR JUPM ECSI Watch List: TASR - du cycle HRT - du cycle - du5 - du10 ESMC - du cycle - du5 - du10 NVEC - du cycle - du5 CALM - du cycle LWAY - du cycle - du5 - du10 - du20 ANIK - du cycle - du5 - du10 - du20 SWIR - du cycle - du5 - du10 - du20 TRMM - du cycle ALDN - du cycle - du5 - du10 HANS - du cycle - du5 - du10 EVCI - du cycle - du5 GMAI - du cycle - du5 LIFC - du cycle NAVR - du cycle - du5 HLEX - du cycle (HRT, NVEC & LWAY have floats outside normal parameters)