Choosing intraday stocks

[wasp]

Coming from an FX background, choosing what to trade is quite a simple process. Out of the four majors and the many minors, picking 3 to trade on a daily basis is simple and picking any of the majors is ideal then you learn each market and know 8 days out of 10 there will be plenty of opportunities in those few markets.

US stocks have so many to choose from, how do you whittle it down to find the best trades to watch.

I would be interested to hear how everyone chooses their stocks?

Is it based on volumes?
general size?
how certain markets play out with your trading methods?
What news releases are due out?
What sector related news may be due out?

I have been watching the main ones I could think of to start (GOOG, MSFT, DELL, YHOO, EBAY) but these aren't neccasserally the best every day.

Any suggestions and ideas on where to start looking greatly appreciated.

 

[TheBramble]

Stock price $20-$80.

30 day historical daily volume of at least 1.5 million

30 day historical daily range in excess of $1.

 

[wasp]

How many does that normally bring it down to TheBramble?

 

[lloydsc]

Steckfetcher

Chris

To get a list for free (albeit 5 days old) go to www.stockfetcher.com and you can enter search criteria such as ATR greater than 1.5, volume average 1m and price ranges.

I think this return usually around 26 stocks such as SNDK and AAPL.

Regards
Steve

 

[wasp]

cheers lloydsc, I shall have a butchers

 

[TheBramble]

Typically 300-400. I review them on a monthly basis.

From these on a weekly basis I will select those that have been working toward the upper end of the volume and range values over the past 5 trading days. Brings it down to about 100 or so which I'll monitor from before the start of the trading day.

Depending on the 'type' of day (trending or oscillating) I'll select those that are key plays (near to their 52wk HIGH or LOW for directional/trending days -or those most negatively correlated pairs for oscillating days) and set my scanner to monitor them.

I'll also (part of my pre-trading day routine) be looking for traditional chart setups such as breakouts from channels and obvious S&R.

 

[wasp]

stockscreener

Ah, more new technology!

Any recommendations on a stock screener?

 

[wasp]

Ah, more new technology!

Any recommendations on a stock screener?

Found a thread!

http://www.trade2win.com/boards/showthread.php?t=12424

 

[wasp]

Okay, the link in the thread was defunct so can anyone recommend any more stock scanners?

lloydsc no offence, just want a variety to view.

 

[rols]

Okay, the link in the thread was defunct so can anyone recommend any more stock scanners?

lloydsc no offence, just want a variety to view.

Try this
http://www.marketscreen.com/report/index.asp?chp=overview

or I use this but it costs - but easy to program yer own screener and invent new and exciting indicators with lots of PRETTY COLOURS

www.prorealtime.com

yahoo do a good basic one

or a pack of darts sometimes makes for an interesting comparison,,
:cheesy:

 

[jackj]

Chris, you could have a look at
http://www.trade-ideas.com/
It gives realtime alerts and can be configured to give you what you are after (so they say). I've been using it for a few weeks now. They have a sort of free trial but unfortunately it doesn't give all the alerts but does give you an idea of their "sample" type scans.

 

[cosmoglobe]

Yahoo screener

HI,
can I actually limit the yahoo screener to only the stocks inside my portofolio, or at least sort my portofolios according to any "thems"...for example... biggest winner and/or loosers percentages? I seem not to be able to figgure out how I can do that. Couldanybody tell me (if it is possible in the first place)

Thanks very much,
Cosmoglobe