Advice on stock scanning

[Bachelier]

Hi,

I am relatively new to the business. I have some experience scalping Nasdaq stocks.

I am about to try something new; trying to scan the nasdaq 100 to find the best stock to scalp for the day, or part of the day. Criteria are HIGH volume, larger then usual for the stock and preferably not the very thick, ultra competitive blue chips like CSCO, SUNW. Good examples from Friday 1/25 are SANM and PSFT (which had news in the premarket).

Ideas I have are checking out the top 10 most active list, or bloomberg.com's stocks on the move. I was wondering though, if it wouldn't be better to utilize scanning software. I own a copy of Radarscreen 2000i (Omega Research). I don't know how to use that effectively though. Is it a good idea to scan for volume well above it's average? Or should i take a different approach?

Could anybody with experience give me some advice?

Tia,

Bachelier

 

[GATrader]

There are lots of them on the market from about 40$/mo to $250.
Most of them need to be coupled with a data vendor. Here are some sites to check out

linnsoft.com 65 per mo.
neovest.com 200 per ?
neoticker.com 50 per
erlangerquote.com formaerly known as ravenquote.com 80 per
Ensignsoftware.com 30 per

Best advise is try before you commit. Some of them might not have the features you want,need or care for. Some use the internet to scan which is slower, some write the data to your own hard drive so more data maintenance but much faster. Some systems, you need to have some programming aptitude. Some a LOT!!!

good luck