The Three-Stock Daily Focus List: How Gary Glover Narrows an ASX Momentum Watchlist When Few Setups Are Working
Written by Christopher Hall, AdvDipFP | Authorised Representative, AFSL 526688 | Updated October 2026
Analysis sourced from Gary Glover (AR 259215), Authorised Representative, Novus Capital Limited (AFSL 238 168)
An ASX momentum watchlist works best, on Gary Glover's practitioner account, when it narrows to the three stocks a trader will trade or add to that day. Gary Glover, who reviews ASX momentum stocks in a recorded weekly session with Finer Market Points, described the idea in the session of 23 October 2026, when the FMP Momentum Profile showed only 28% of tradable ASX companies above their 50-day moving average. This is a practitioner observation, not a formal study. The sections below cover what a three-stock daily focus list is, why a weak market shrinks the watchlist, how Gary chooses the names, what a B-grade trade costs, how to judge a day when the list is short, and how a model book keeps the list sharp.
Watch the session:
In the 23 October 2026 Finer Market Points session, Gary Glover narrows the ASX momentum watchlist to a few stocks with an edge, and explains why a three-stock daily focus list keeps a trader away from B-grade trades.
What Is a Three-Stock Daily Focus List on an ASX Momentum Watchlist?
A three-stock daily focus list is the practice of choosing, before the session, the three stocks a trader will trade or add to that day, and leaving every other name on the watchlist alone. The watchlist is the research list; the focus list is the decision list. In the 23 October 2026 session Gary Glover described the rule as one he had come across from a trader he follows (the name is unclear in the transcript, so it is not used here): each day, only three stocks are "in play", meaning the stocks the trader will either trade or add to, so that the trader's focus is not too wide. Gary's anecdotal reaction, developed across his trading career, was positive:
"That's actually quite a good rule because then if you've got your three, therefore you're not going to go and trade something on a whim." — Gary Glover, Finer Market Points session, 23 October 2026
Gary allowed one exception, a setup strong enough to grade as a "double A". Otherwise the trader works only the focus list. Christopher Hall described the same discipline among US day traders: research is done the afternoon before the open, which produces a short list of "stocks in play", and nothing outside that list is traded, even when an announcement makes another stock run during the day. Hall attributed the practice to an author whose name is not confirmed, so no published source is cited here.
Watchlist | Daily focus list | |
Purpose | Research: names that may set up | Decision: names that will be traded or added to today |
Size | As many names as the scan produces | Three, in the rule Gary Glover relayed |
Refreshed | As the lists update | Each day |
What it guards against | Losing track of emerging leaders | A trade taken on a whim |
Editorial comparison drawn from the 23 October 2026 session; it contains no market data.
The discipline sits close to the idea that the best momentum traders master a few setups rather than many, a point set out in why the best momentum traders master one setup. The difference is what gets limited: specialisation limits the patterns a trader trades, while the focus list limits the names.
Why Does a Weak Market Shrink an ASX Momentum Watchlist?
A weak market shrinks the watchlist because the number of stocks actually working shrinks first. The FMP Momentum Profile, published daily and accessible to FMP YouTube Momentum Profile members, put numbers on that in October 2026. On 23 October 2026 it showed 28% of tradable ASX companies above their 50-day moving average and conditions 41% harder than normal for finding a good trade, with Christopher Hall noting that the Momentum Profile reading sat in the bottom 1% of all observations over the previous three years.
The readings quoted at the start of three October 2026 sessions are below. Each row is the reading Christopher Hall gave at the start of that session from the FMP Momentum Profile, which is published daily; the 2 October figures come from the session covered in screening for relative strength candidates.
Session date | ASX companies above the 50-day moving average | Harder than normal to find a good trade |
2 October 2026 | 31% | 36% |
16 October 2026 | 20% | 45% |
23 October 2026 | 28% | 41% |
Gary Glover answered the 23 October reading by describing the list shrinking, not the opportunity vanishing:
"The watch list is definitely narrowing… it just seems like a very short list of stocks that are in play. It sounds funny, but maybe that makes it easier to actually just try and stay with those stronger names." — Gary Glover, Finer Market Points session, 23 October 2026
He tied the narrowing to what had happened to the old leaders. In his account, a Friday a week or two earlier had seen almost all of the old leaders fall sharply together. Gary Glover's anecdotal reading was that stocks that have run for a long time and then roll over send money elsewhere, so new leaders should hopefully emerge, and he said a few sectors were starting to strengthen. This was his expectation, not an observed capital flow. He also contrasted the week with a month earlier, when he had struggled to find trades: on 23 October he was seeing a few setups, not an abundance, and the ones that had set up were trading okay.
A narrow list in a hard tape matches the response Gary has described in how momentum traders adjust when moves stop following through, where selection narrows to genuine leaders while position size and targets shrink.
How Does Gary Glover Choose the Three?
Gary Glover's order of selection is the sector first, then the strongest names inside it, then the chart filters, with each survivor graded A or B. He described each step across the 16, 20 and 23 October 2026 sessions.
Start with the sector
On 20 October 2026 Gary put sector selection ahead of stock selection:
"If you can get the right sector and the themes right, I think you go a long way… and then you just got to try and find the strongest names within those themes as well." — Gary Glover, Finer Market Points session, 20 October 2026
His anecdotal observation was that the next sector to look for is one starting to turn up. The criteria he gave were a move above the 50-day moving average, a couple of weeks of back-to-back strength and good trading volume. He also cautioned against overstaying the strongest sectors, because in that market they tended to tire at the same time. The link between sector and leader is covered in picking the sector before the stock.
Then the strongest names, then the filters
Inside the sector, Gary described a screening order. This is his practitioner sequence, not a procedure to follow step by step.
Relative strength rating. On 16 October 2026 Gary said he looks for a relative strength rating above 70, meaning the top 30% of stocks on the IBD model, and that he was still not seeing many. He stressed that this is a rating, not the RSI indicator drawn on a chart. No further source was stated for the threshold.
Fit. Two momentum-list names on 23 October, MX1 and FAU, were described as too small for his own trading, with a stop distance of about two cents and light trading cited for FAU.
Overhead supply. On 16 October he said he tries to stay away from stocks with a lot of overhead, using Cettire (ASX: CTT) as the example, and on 23 October the overhead on Bapcor (ASX: BAP) was the one thing that bothered him. The mechanism is set out in how overhead supply affects an entry.
Setup grade. Survivors are graded. On 23 October he called Brambles (ASX: BXB) "maybe a bit of a B, B+".
The FMP lists supply the starting pool. Christopher Hall described the Top 30 momentum list and the Launch Pad, where next leaders often show up before they break out, as the two lists Gary works through. On 23 October 2026 Gary reviewed 11 names from the momentum list and 6 from the Launch Pad. The table records what he said about the nine momentum-list names that were not KOA or PME.
ASX code | Company | Gary Glover's stated view, 23 October 2026 |
MX1 | Micro-X Limited | Constructive consolidation holding the 20-day; "a little too small for me personally"; capital-raise risk after a good run |
DAL | Dalaroo Metals Ltd | Tightening after a gap-up; "one to keep an eye on"; the one-day pop made him "a little nervous" |
BAP | Bapcor Limited | Held the 50-day and set up well on the daily and weekly charts; the overhead "bothers" him |
FAU | First Au Ltd | Small VCP on short time frames; "probably too small for me"; lightly traded |
WTM | Waratah Minerals Ltd | Constructive price action; a history of running up and giving it back |
OMA | Omega Oil Gas Limited | Wants the pullbacks to tighten again; strong sector and volume; some selling on the last leg down |
LBL | Laserbond Limited | "Pretty messy on the daily"; the weekly chart looked better |
AEL | Amplitude Energy | A bit more constructive than the energy laggards; watching how it tightens near the 50-day |
BXB | Brambles Limited | Nervous about the gap down; "a B, B+ maybe"; hesitant given the possible downgrade cycle |
On 23 October 2026 Gary Glover attached a stated reservation to every one of the nine momentum-list names in this table. The other two names he reviewed that day were Koala (ASX: KOA), where his stop had been triggered, and Pro Medicus (ASX: PME), discussed below. These are educational examples of a screening process from one session, not recommendations.
The FMP Momentum Profile — accessible to FMP YouTube Momentum Profile members — included the breadth reading (the share of tradable ASX companies above their 50-day moving average) at the time of the 23 October 2026 session, giving members early access to the educational data discussed in this article.
What Does a B-Grade Trade Cost Beyond Its Own Loss?
A B-grade trade costs focus as well as capital, because it competes with the A-grade positions for attention. Gary Glover disclosed in the 23 October 2026 session that he had two A-grade setups, already in strong positions, that he intended to add to, did not add to either, and found his attention absorbed by a B-grade trade that turned messy. Discussing Pro Medicus (ASX: PME), he said he should have added to the position. This disclosure is made in accordance with the Gary Glover Source Disclaimer at the end of this article.
"That's the thing about these B trades sometimes — that's not only taking a bad trade, but it takes your focus away from the good trades." — Gary Glover, Finer Market Points session, 23 October 2026
The cost is easy to miss because the loss on the B-grade trade is visible and the missed addition to an A-grade position is not. Mark Minervini describes losses in related terms, as a missed condition rather than bad luck:
"If you lose on a trade, it's because you missed something. Either the market, the stock, it wasn't set up properly, something you missed because when you do it right it works perfect." — Mark Minervini, Trader Line Conference (2025)
Read alongside Gary's account, a B-grade trade is one where a condition is already known to be imperfect. On 23 October, Brambles' gap down is an example of that kind of flaw: Gary graded it a B or B+ and said the possible downgrade cycle made him hesitant. The narrow list gives a trader no room to take such a trade on a whim.
Gary Glover's anecdotal observation is that tough markets make the slip more likely: when the environment is difficult, traders tend to lower their standards and take on B-grade trades. His stated aim was to hold to the process and avoid weakening, the same theme as the discipline of following a trading system.
How Can a Trader Judge a Day When the List Is Short?
With a short list, results arrive in small numbers, so the day is better judged on whether the plan was followed than on profit and loss. Gary framed it as a two-part job:
"As traders, we can only really do two things… have a good plan with a good edge, and then basically just execute that plan." — Gary Glover, Finer Market Points session, 23 October 2026
He said traders tend to measure themselves on the most recent week or day, which he called probably not a good measure. In his anecdotal view, a good plan with a good edge shows up over three months, six months, twelve months, two years or five years, and the longer the horizon the better, while there will be difficult periods along the way.
The Koala stop
Gary's Koala (ASX: KOA) trade ended the day before the 23 October session, when the stock broke the 20-day moving average and the previous swing low and his stop was triggered. He said he raises his stops every couple of days rather than daily, prefers to give himself room by using the last swing low rather than an end-of-day stop, and wants to see higher highs and higher lows. His response to the exit was that he was not upset, because he had executed his plan. His one regret was missing the entry at the low.
Christopher Hall described a similar approach to his own trades in the session: the main output he tracks is whether he stuck to his plan, not how much he made or lost. Hall also referred to Gary's scorecard of A and B setups, which checks whether only A-grade setups were taken.
How Does a Model Book Help When Few Setups Appear?
A model book is a personal library of chart examples for each setup a trader trades, kept so a new setup can be compared with the ones that came before. Gary Glover said in the 23 October 2026 session that he had recently settled on a method for building his own model books and had started a couple. His anecdotal aim was a book for each of about five setups:
"I've got about five setups I look at, those [VCPs], the 0123, the undercuts… if I can get say 20, 30, 40 examples of each and keep them in a book, then when they set up I can just go back and refresh myself." — Gary Glover, Finer Market Points session, 23 October 2026
On Gary's figures that implies a book of roughly 100 to 200 charts, arithmetic from the range he gave rather than a number he stated. The link to a short list is recognition speed: when only a handful of names set up, a trader who has studied dozens of examples of each pattern can grade an A or B quickly. Gary said he was seeing quite a few undercuts of prior lows at the time, which is the kind of pattern he wanted to be able to refresh his memory on.
Conclusion
A narrow ASX momentum watchlist is a description of the market as much as a rule. On 23 October 2026 the FMP Momentum Profile showed 28% of tradable ASX companies above their 50-day moving average, and Gary Glover answered by shrinking each day's decisions to three stocks: chosen by sector, relative strength and chart filters, graded A or B, and judged on whether the plan was followed. What to watch next, as an observation rather than a trading signal, is whether the breadth reading improves and whether the sectors Gary has been describing keep showing back-to-back strength. The supporting Momentum Profile data from the 23 October 2026 session is accessible to FMP YouTube Momentum Profile members.
The analysis in this article draws on Gary Glover's recorded sessions and the FMP Momentum Profile data, which is published daily and accessible to FMP YouTube Momentum Profile members. Members receive early access to the educational data that forms the basis of articles like this one. The breadth readings at the time of the 16 and 23 October 2026 sessions are available to members. For information on FMP YouTube Momentum Profile membership, visit the FMP YouTube membership page.
Remember that past performance is no guarantee of future results, and all trading involves risk.
Frequently Asked Questions
How many stocks should a momentum trader watch each day?
There is no universal number. On 23 October 2026 Gary Glover relayed a rule from a trader he follows: only three stocks are "in play" each day, meaning the stocks to trade or add to, and he called it a good rule. The research watchlist behind that list can be longer, since Gary reviewed 11 momentum-list names and 6 Launch Pad names in that session. The three-stock figure is a practitioner rule, not a tested threshold.
What is a "stock in play" in trading?
In the 23 October 2026 session Christopher Hall described a stock in play as a name a trader has researched in advance and will actually trade that day, typically chosen the afternoon before the open. Names outside the list are not traded, even if an announcement makes one run during the session. Hall described this as a US day-trading practice and attributed it to an author whose name is not confirmed, so no published source is cited.
What is the difference between an A trade and a B trade?
Gary Glover used the grades informally in the 23 October 2026 session. His two A-grade trades were textbook setups already in a strong position and showing relative strength; a B-grade trade falls short on at least one condition, and he called Brambles "a B, B+ maybe". He did not set out a formal scoring rubric. Christopher Hall referred to a scorecard of A and B setups that Gary uses.
Can a narrow watchlist cause a trader to miss new leaders?
It can, which is why the focus list is a daily list drawn from a wider scan. Gary Glover said on 16 October 2026 that he looks each day at what is on the FMP lists, which stocks are strong that day and which sectors are gaining traction. The narrowing applies to what is traded or added to that day, not to what is watched for emerging leaders on the Launch Pad.
What should a trader do if none of the three stocks sets up?
Gary Glover described himself as on the sidelines on 23 October 2026, with few good setups, and said patience was needed. Christopher Hall described day traders who work a short pre-researched list as not trading that day when none of the names meets its criteria. Both are practitioner descriptions, not recommendations; traders unsure how this applies to their circumstances may wish to speak with a qualified financial adviser.
How often should a trader refresh a daily focus list?
Each day, in the rule Gary Glover relayed: the three stocks are chosen for each day. Christopher Hall's description of the day-trading practice puts the research in the afternoon after the close for the following morning, and Gary reviews the FMP lists daily. The cadence follows the rule rather than any tested interval.
What does a hard penny market have to do with a narrow watchlist?
A hard penny market is a regime where setups still trigger but moves fail to follow through, and the response Gary Glover has described includes narrowing selection to genuine leaders while trading lighter and tighter. A narrow watchlist is one part of that response. In October 2026 the FMP Momentum Profile readings in this article, between 20% and 31% of tradable ASX companies above their 50-day moving average, describe that kind of environment.
Sources
# | Source | Type |
1 | Gary Glover (AR 259215), Novus Capital Limited (AFSL 238 168). Finer Market Points session, 23 October 2026. | Practitioner session |
2 | Gary Glover (AR 259215), Novus Capital Limited (AFSL 238 168). Finer Market Points session, 20 October 2026. | Practitioner session |
3 | Gary Glover (AR 259215), Novus Capital Limited (AFSL 238 168). Finer Market Points session, 16 October 2026. | Practitioner session |
4 | Christopher Hall, Finer Market Points. FMP Momentum Profile readings as stated in the 16 and 23 October 2026 sessions. | FMP proprietary data |
5 | Christopher Hall, Finer Market Points. FMP Momentum Profile reading as stated in the 2 October 2026 session. | FMP proprietary data |
6 | Mark Minervini. Trader Line Conference (2025). | Published research |
7 | A trader Gary Glover follows: three stocks in play each day. Referenced by Gary Glover, 23 October 2026 session. No published source confirmed. | Session reference (no confirmed publication) |
8 | US day-trading practice of "stocks in play". Referenced by Christopher Hall, 23 October 2026 session. No published source confirmed. | Session reference (no confirmed publication) |
All Gary Glover observations in this article are anecdotal practitioner observations developed across his trading career — not formal studies.
Related Finer Market Points Educational Resources
Why the Best Momentum Traders Master One Setup: Gary Glover on Style Drift and the Discipline of Specialisation — Christopher Hall
How Gary Glover Filters the ASX for Relative Strength Leaders During a Pullback: The RS and Coil Score Method — Christopher Hall
The Hard Penny Market: Gary Glover's Two Adjustments for Trading ASX Momentum When Moves Stop Following Through — Christopher Hall
How ASX Momentum Traders Identify Sector Rotation Opportunities Before the Catalyst Arrives — Christopher Hall
The Top Half of the Chart: Why Gary Glover Avoids ASX Stocks Trading in the Bottom Half of Their Range — Christopher Hall
Surrender to the Process: Why the Best ASX Momentum Traders Stop Fighting Their Own System — Christopher Hall
This article includes a general trading observation made by Gary Glover (AR 259215), Authorised Representative of Novus Capital Limited (AFSL 238 168), during a recorded Finer Market Points session on 16, 20 and 23 October 2026. The observation reflects Gary Glover's general approach and his anecdotal observations developed across his trading career — it is general commentary only, and is not a formal study, not financial advice, and not a recommendation to trade any security. It was made in the course of that session and not in response to any individual's circumstances. Content has been edited and summarised by Finer Market Points for educational purposes.
This content is for educational purposes only and does not constitute financial advice. Past performance is no guarantee of future results.
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