I've been getting a lot of messages and comments asking about how I'm scanning for the breakouts that I am playing, so instead of writing the same responses over and over I figured I would lay it out here for everyone who is curious.
What I scan for: Big Percent Gainers!
I'm doing exactly what Tim teaches us to do when looking for stocks in play. I look at big percent gainers and the high/low ticker. But I have the new lows hidden because I have no play for a stock hitting new lows when I'm trying to play breakouts.
When I actually do play a breakout, 98% of the time I've been watching the stock for days, weeks, or even months in some cases. Very rarely do I have a new stock I'm not already watching pop up on a scanner and give me a compelling reason to jump in and play it right away during the day. I do sometimes find stocks during my nightly scan which are getting close to breaking out. I get the feeling that a lot of people just want a scan that will show them the stocks to play so that they can just buy and profit. I'm sorry to tell you it doesn't work that way, just as following someone's 'hot stock picks' won't make you a profitable trader.
If you need more information please watch TIMdicators and TimLine where Tim goes over watchlist building. Also watch Pennystocking, Pennystocking Part Deux and Pennystocking Framework for information about the setup and chart patterns to watch for. How to Make Millions and Trading Tickers are invaluable as well, so be sure to watch those a few times. Also Trader Checklist and Spikeability. If you still don't understand how I'm finding these stocks after watching those be sure to watch as many of the video lessons and webinars as you can. Don't forget to watch the other DVDs I didn't mention as they also go over similar patterns and ideas and the more times you see them, the easier it will get.
If you still have questions after studying Tim's materials, please feel free to hit me up.