The Stock Watch List
The stock watch list is you’re shopping list of stocks. This is an important list. When the market has a correction or when the stocks you want move into the range you want to buy them in, this list is your short cut. Think of this as your stock cheat sheet.
In an accessible place (handy dandy paper notebook, digital file or a whiteboard*) list the name of the stock, stock symbol, buy price range and the reason why. Why list the reason why? You’ll want to recheck your reasoning in case it changed. If you are buying on a trend, list that. You’ll want to check on the trend before buying. News is another good reason, make sure the news you were looking for happened.
The best way to create a list
Buy it. Seriously, buy it. I used to waste so much of my free time combing through the news and web sites trying to find the next big stock to buy. Why waste your time? Buy a list, there are plenty of services that can offer good selections. You can even buy a list on what type of investing you want like small cap, large cap, value investing and swing trading.
Here are a few services that sell lists:
Investor Business Daily:
Top rated stocks under $10
IBD 100
IBD 20
The 100 and 20 lists are published in the ever awesome Investor Business Daily. I’ll admit I’m a fan boy for this newspaper. I subscribe to it and the “Top rated stocks under $10”. I’ve made money from both.
Fools:
Hidden Gems – Small Caps
Global Gains – International Stocks
Inside Value – Value Stocks
Rule Breakers – High Growth Stocks
Income Investor – High Yield & Growth Stocks
I have not personally used these lists, but I’m a huge fan of their books and web site.
The Street:
Cramer’s Action Alert Plus – Jim Cramer sends out his buy and sell decisions.
Breakout Stocks
Market Movers
And many more….
The Street offers a wide variety of lists including Jim Cramer’s personal portfolio. Love him or hate him, he’s entertaining. I don’t personally use The Street’s services or web site. I was a fan of Jim Cramer’s show before I decided to cancel my evil satellite service.
Good luck and happy trading!
* I remember blackboards, but my kids have informed me that they are whiteboards now. It’s unfortunate that they will miss the fun of cleaning the chalk from the erasers (yuck).
