Last week I used the eSignal Scanner...and it worked very well. Not surprising in this stock pickers market, where we are lucky to get 1 trending day per week. For the PreMarket Scan I look for stocks that have a minimum daily volume of 2 million share and trading at least 100k shares before the open. Last week there were at least 2 names each morning to concentrate on at the open. As long as they are outside of the previous day's range I will put the trade on with a stop loss using the hourly ATR (average true range). Last week they all played out well. On Monday I traded ABT and BIIB. Tuesday I had URBN and MON. Wednesday NOV and COH were good for nice winners. On Thursday NOV again as well as COH. Then Friday was a range bound day except for MRVL and PCX which were very nice winners. Above are the 5 minute charts that I used to day trade this past week.
