They buy almost every intraday high on any and all decent daytrading stock as they occur. The group of stocks is usually the same 500 or so and some get added as certain sectors come into favor.

We basically run a Hi/lo ticker on a group of stocks and trade from it. The big boys run the ticker against the whole market (Nas/Listed) and I run it against my universe. They all started about like me in that they would study all their technical setups at night and come in with a list and trade from it.