These are some criteria to be used when scanning for certain type of stock plays.
52 Weeks High – For Swing Trade
- Previous Day Volume 1 million
- Price above $1
- Last price Less than equal 52 week high by 2% or less – this means price hovering just low of the 52 week high as it is on everyones radar.
- Turn on news column on stocks to trade and see how many news items it has. The more the better.
VWAP Hold Scan – For Day Trade
- This is a momentum stock scan.
- A day trade scan for the most part.
- $1 – 20
- + 1 Million Volume
- Up more than 10%
- After 10am Eastern Time or mostly afternoon scans for secondary leg
- Its for stocks that spike, have a pull back and spike again which is usually in the afternoon
- Above or below VWAP by 2%
- Still make sure it has a catalyst
- Note: Morning is choppy try to avoid it
Volume Boost Scan – For both day and swing trade
- Want to trade stocks with unusual volume as it bring unusual price action
- Ignore the thousands that are just average and below
- Volume today is 10% or higher than 60 day average volume
- Price up 5% on the day
- The lower the stocks the more volume we ideally need
- $1 – $12 – as other stocks don’t usually double or multiply per day
- Can run all day
- Still have to do due diligence, like check news, float, etc
5 Day gainer scan – For short bias trade
- Stocks that have been up 5 (green) consecutive days in a day
- Maybe tweak for lesser days
- Be on the look out for the first red day, then short the first red day and use the previous high as stop
Pre-Market Scan – For seeing what is happening in pre-market
- Up 10%
- Volume > 50,000
- > $1
- Some higher priced stocks when running, some lower priced stocks run as well like they were correlated
After Hours Gainer Scan
- After Hours % change > 10
- Volume > 1 million
- But can change the volume
- If new, try avoid trading after hours as its very volatile
- Still need to know what is happening after hours for preparation
High Priced Gainer Scan – For mainly earnings scans
- Last Price > 20
- Volume > 500 000
- > 5 % change
- Can use it during earning seasons
Low Float News Scan – Run all the time, daily
- SteadyTrade.com has more info on float if need more info. Podcast etc
- < 10 million Float
- Last > $1
- % change > 5
- Volume > 50 000
- Add news column (tweak result)
Red to Green Scan
- Above the previous days high
- Looking for big gainers we may have missed
- Used for prepare the day before
- Last > or equal to Previous Day close
- Then add to filter it to own watchlist