AUG 20: Online Share Trading Advice you can use

by David Jenyns on August 20, 2006

Take Stock

I don’t put a lot of “stock” in stock picks. What I do put stock in is solid advice that helps me evaluate a company and choose which stock to invest in. MSN has a comprehensive money and investment site but what I like about it is the way they explain all the charts and graphs. Instead of actual online share trading advice, they give you the tools to select your own stocks.

They have all the information of course. They have the history and the latest news of the companies and they have a chart of what the “insiders” are doing, whether they are buying or selling. The fun part is you get all the information and then give yourself online share trading advice from everything you just learned.

When you do take online share trading advice seriously, it’s important to know exactly where the information is coming from because the person trying to sell the stock might be the same person writing the “hot tip”. That’s why I prefer generic tools and information that will teach me the ropes but let me make my own decisions.

Stock Takes

Now there’s sites like CNN and the SEC (Securities and Exchange Commission) website that are going to carry a lot more weight with me when it comes to online share trading advice. As far as the SEC website, I can search company filings which are very detailed. Now, I’m not going to find online share trading advice at the SEC website but take that information and add it to the tools on MSN and the information on CNN online and you can make a pretty fair assessment of what’s going on at XYZ Company.

Ehow.com has what seems to be an unbiased tutorial on how to research and pick stocks online. A good rule of thumb is to beware of online share trading advice from the very website or company that wants you to purchase shares of their stock. When I am at MSN researching stocks, I am not looking at anything to do with MSN. It just boils down to the fact that you want to get objective information.

Beware too of message boards and forums that suggest certain stocks. I once was watching a forum where it seemed every other message was about this one certain stock and how the poster wanted to buy it. It didn’t take the rest of the forum long to figure out this was the same person with multiple identities trying to promote this particular stock. Once his cover was blown, we didn’t hear anymore from him.

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