A simple but effective pattern I look for are stocks that are "ripping" (moving very quickly in one direction or another, usually with a lot of volatility on the way), here are two charts from today that represent what I'm scanning for.
First, CNBC reports at 8:55am EST that the WSJ news on BAC's capital requirements might not be as bad as it appears, and the stock begins to rip:
Next, Garmin gets hammered at the bell after reporting larger than expected losses:
This is all new to me but I would think it wouldn't be difficult to create an indicator that shows which stocks on my watchlist have the highest percent gain/loss over a 2 minute/5 minute interval, and which have the highest percent gain/loss since the opening bell, but I don't really know where to start with Market Analyzer. Are there built-in indicators for this sort of thing already? If not, will I need to use fancy Ninjascript to create them, and if so does anyone have some examples they can share? Thanks much!
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