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| How to do market monitoring systematically by yourself? |
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How do you do market monitoring in a consistent manner for generating investment ideas? This is important if you are interested in more than one sector of a market or interested in global investment. A lot of investors do market monitoring in an ad-hoc manner. They often regret about missed opportunity when it is too late. Below is some methods for market monitoring:
- Filter a lot of sources
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To find websites or web pages that you may be interested automatically, consider Google Alerts. Google Alerts can send email to you automatically on pages that contain keyword(s) that you have specified. See screenshot of Google Alert's email below:
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Currently contents of a lot of websites are available as XML feeds. To scan headlines of these feeds, use a feed reader, such as Google Reader, Bloglines. Below is a screenshot of Google Reader:
- Create your own chart book
By putting charts of markets and securities you are interested in together, you can review these markets/securities regularly, e.g. weekly, monthly. Here is a screenshot of a chart book. You can download the chart book here. However how do you interpret these charts in the chart book? If you believe upward-moving security price alone is good, pleae read Can simple fund chart tell you performance of a fund?. For chartists, they are trying to determine the chart pattern of a chart in the chart book.
- Mechanical screening
In this method, you use certain criteria to create a list of investable securities for further investigation. The criteria can be fundamental, e.g., price-earnings ratio and/or technical, e.g., price above the 200-day moving average. For North America investors who are interested in technical screening, they can try StockCharts.com. For fund investors in Europe and Asia Pacific, they can try fund screening of myfundcharts.com. Fund investors can review screening results of a few countries to get a common theme(s) for the same period. For those who want to screen stocks using their methods, they can get free end-of-data stock prices from Yahoo! Finance and eoddata.com.
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