Q: What would be the best way to scan for which stocks to trade the following day?
It all depends on your trading style. Personally, I like
pullbacks and normally consider holding positions for one to five days. With
that said, looking at the pullback list gives me a good start. I then whittle
these 30 stocks down to a few that are worthwhile. This comes with experience.
I’m normally look for stocks on the list that are in the strongest sectors. In
addition, after much trial and error, I’ve learned to recognize the best
patterns. This is the type of analysis I do for my nightly Stock Market Outlook.
You could apply the above methodology to any list we publish that fits your
trading style. In addition, I suggest you experiment with the
StockScanner.
Check
TradingMarkets’ Trading Lessons for my series of articles
on using the scanner.