How To Scan For The Most Explosive Stocks To Day Trade

There are hundreds of stocks that are gapping up and down every day. So how do you figure out which ones you should trade that day and which ones you should leave alone? A stock scanner is a great tool for filtering out the A+ quality stocks from the subpar ones. Here are the scanners that we use to find the best momentum stocks to trade every day.



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What to Focus On

Looking for a quick way to filter out all of the low quality stocks gapping up and down everyday? A scanner can quickly narrow down your search to the top 10-20 stocks gapping every day. You should filter by volume, gap %,  and by float. These are the most important features that determine a stocks’ ability to make huge moves intraday. Stocks with a low float (Less than 100 million shares), high relative volume,  gapping above resistance, and ones gapping below support are all of high interest.  You can see we also have bounce scanners, which we use to find stocks that are extended to the downside that are due for a bounce. We have parabolic and pull back scanners for stocks extended to the upside that we trade for a quick short.   

Nightly Scans

Every day before the market open you should runs scans to see what stocks moved during the trading day. You should run your scans after the post market trading has closed at 8PM. This way  you can see all the movers  from that day, and also see what stocks are moving after hours in reaction to news events. This will help you make your watchlist for the next trading day.  

Morning Scans

You also want to run morning scans at around 8:30 AM to see what stocks are moving pre market. A lot of companies do press releases at around this time, so you will be able to find all of the best stocks that are moving pre-market that could be in play for that day. A  scanner makes this process quick and easy.

Finding Intraday Setups

Our scanners are crucial for finding our intraday setups. Here’s an example of how it helps find a stock that gives several entry signals with our go-to setups that we teach:

The scanners are also useful for finding our favorite short setups. We can see how our scanner that was used to find this short setup by showing where the stock is trading in its intraday range:

This alerts us to one of our potential setups, the VWAP short. Since this setup involves catching a momentum stock that has pulled back to its VWAP, which means it is in the middle of its range. Once we see that that it is trading in the middle of its range, we know that it will potentially give us a setup to enter with good risk versus reward.

If you’re interested in getting the official bulls scanner through trade ideas. Just sign up using this link.

Use promo code BULLS4TIPRO for a 15% discount.

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