Choosing stocks is daunting, and time consuming. It can take a while to find just the right stock. Persistence will pay off though. There are many places to find stocks. You can go to stockhouse.com, nationalpost.com, www.stocknod.com or even a search engine like yahoo.com. I usually focus on companies in specific sectors that are on the move, like the mining sector, the financial sector, the health sector. Browse through the news articles in the financial sector of your favorite newspaper for idea's on what to focus in on.
Newspapers are a wealth of information, click out, or bookmark specific articles. Recently there was an article about The Bank of Nova Scotia's quarterly report. They reported profits of over a billion and half dollars in the second quarter. See, "Scotiabank reports second quarter earnings of more than $1.5 billion with record revenues. " The stock up over $1.00 a share on the day it was released.
Do your research throughout the day. Look for favorable news postings (recently posted), billboards. Focus in on companies with a lot of activity in the last 3 months, and that have opened up high. When you find something, sit and wait to see what the stock will do, and then decide to go with it. Stay away from small cap companies under a dollar, you may be waiting a long time.
You want to get in and out quickly. Buy in volume, as much as you can bear, wait for about 5 to 10 cents a share. Sell, and use your profits to buy your next company. Based on a commission of $30 for every trade, you need to buy over 1000 shares at a time. You will make $100 before commission for every 10 cents on 1000 shares and twice that on 2000.
If you have never traded before, or if you want to get back into the game, start a free portfolio. There are plenty of places to do this. Go to nationalpost.com, or yahoo.ca. You always want to look before you dive.
Patience and planning is the key. Take your time and you will find what you are looking for. Don't be greedy and have fun.
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