Thursday, September 03, 2009

A Few Worthwhile Tools for Intraday Stock Screening

Aware that slow markets can lead to a poor opportunity set for intraday stock index trading, many traders screen for individual stocks that are likely to show promising movement during the day.

FinViz offers a free screening tool, along with the ability to apply customized screening criteria to defined stock portfolios in their Elite version.

Trade Ideas has done a fine job of continually adding tools to their screener, including the ability to catch volume spikes and filter stocks by where they are trading within their day's ranges. Also unique to Trade Ideas is the Odds Maker module, that enables traders to backtest various screening patterns over a prior three-week period.

Trader Vic Scherer publishes what he calls "persistence lists" in his Daytrend blog site. These are chosen from a universe of liquid stocks. He updates the lists for stocks moving in up and down trends during the last hour of the trading day and also alerts readers to the lists via Twitter. See also the extensive market statistics that Vic keeps; impressive work!

Are there valuable intraday screening tools that you use for stock trading? Please offer your shout outs through comments to this post. Thanks!