These are today’s top 10 stocks on the In Play column on the SMB Radar.
This is the most important function of the scanner. The Radar uses a number of proprietary algorithms on a prescreened universe of stocks and processes every tick in search of finding stocks that are In Play. These stocks have unusually high order flow that indicates heavy institutional activity in the stock and tend to have a catalyst that is driving them for the day.
We prefer stocks that are very In Play. This is indicated by the brightness of the red, along with the IPR number (we prefer above 3.0). In Play stocks give us the best opportunity to make high probability intraday trades, with a good understanding of our risk.
Top 10 IPR: $CSC, $CTSH, $VRSN, $FWLT, $NETL, $DB, $DVA, $AVP, $FST, $TEN
2 Comments on “SMB Radar Update for May 3, 2011”
Hey, Bela, first time posting. Love your book. A developing daytrader here, been position and swing trading for years, with inconsistent success. Recently invested a lot of time and money in a real trading education, and got very interested in daytrading after reading your book. Attended some of the webinars and subscribe to your blogs. Like this radar screen very much. Been watching for days without jumping in. Decided to take a trade on DVA, worked great, though of course being a newbie daytrader it may just be beginner’s luck. Got your list a little past noon today, flipped through the charts and notices DVA in a tight range after the gap down. On 2min chart I had 86.04 and 85.2 as my levels to watch. Took a short at 1:01pm at 85.97 with a 10 cent stop, then started trailing my stop on the 5min chart highs of the red candles. Just got taken out at 84.93. That’s pretty cool. Actually got so excited and decided to write this and missed the long trade above the high of the 2-min green candle high off the bottom. I will definitely be spending more time studying daytrading techniques. Good thing is this does not interfere with my swing trading work for which my analysis is done mostly outside of regular market hours. Anyway, good stuff. Looking forward to more food for thought.
AL from New York
thxs for sharing. as steve says, “The SMB Radar is the first tool that was developed that finds the best stocks we want to trade as intraday traders.” keep working on your trading game!