One of my trading shortcomings which I've lamented is the lack of an automated method to pick and choose which stocks to play. I've experimented with Yahoo's free stock screener a while ago but find that the heavy dependence on basic statistics impractical. I've also considered using StockFetcher.com but don't like the use of indicators as they are typically after-the-fact.
Today, I've learned through TraderFeed of FinViz's stock screener tool. In particular, the tool has the option to filter out stocks based on earnings release date. As day traders know, finding the right stocks to play is a big step in the game. Stocks nearing earnings release are generally a lot more active in terms of both price and volume levels. Simply put, we can use FinViz's screener to find stocks that will release their earnings soon so short term interest in the stock will be high. Thus, more opportunities can arise.
Using this method should yield 10 to 20 stocks to analyse on a daily basis for short term plays. The next step would be to apply your own trading strategy in finding the best setups to play.
Update: CBRL is my first test candidate from using this tool.