On any day there are few stocks that dominate that days trading. Many times these stocks make 10 to 25 dollar or more moves in just one day. If you can identify these kind of stocks early in the morning then you can benefit from rest of the day moves.
This strategy is more useful for high priced stocks as they can easily have 10 to 25 dollar more move. NFLX is an example of that yesterday. It made a 20 dollar move during the day.
After the exit the stock still went on to make 7 dollar more.
To find stocks like this early in the morning I use Trade Ideas scanner. It can allow you to create real time scans that can alert you to potential big moves.
In Trade Ideas scanner you can scan for a stock that makes at least 60 high for the day in first few minutes of open. That stock then tends to keep going throughout the day. If a stock makes 60 new high for the day in first half an hour it indicates very aggressive buying . Such buying tends to last through the day.
Most of these trades tend to be just few minutes or hours trade giving you 5 to 10 dollars.
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