"After you guys have researched a stock and decided the value was not there yet, how do you keep track of it?"
J Mako, if you are a person who puts a lot of time & effort into researching individual stocks, then I guess you would want to keep alert to such stocks even if your decision has been to not buy at the current time and/or price. For me, I spend very little time in researching a potential stock (but I do look at a lot of stocks), and so I keep no records for 98% of the stocks I look at and dismiss. The other 2% that I look at that I might want to revisit, I list at the top of a watch portfolio. Of course, I keep tracking records for the stocks I already own -- and I maintain positions in at least 200 stocks.
For my purposes, I find it pretty easy to monitor at least several hundred stocks at a time. As I say, I use Yahoo. My purposes are to be alerted to news about each company and see price change and percentage change (20 min. delay), I partition the stocks into various Yahoo portfolios -- real estate, bdc's, tech, retail, industrial, food, watch, etc. I can easily get Yahoo's metrics that I want for each stock or portfolio by making use of Yahoo's "custom" button for a portfolio. One drawback is that I do miss small changes in stock prices that accumulate. That is, I may be watching a stock that moves up 1/4 point a day for a few days, and I don't realize the stock's moved up a big percentage or dollar amount over a couple of weeks. I try to catch that on the downside by looking at new lows list.
I like to know what kind of mistakes I am making in selling, so I add all the stocks I sold out of to the bottom of my watch list. |
