Setting up a Stock Watch List
Once you have identified companies that you are considering buying and have read their public filings to obtain a deeper understanding of their business strategy and associated risks, you should keep track of them by setting up a watch list.
There are several websites that provide this service for free. To access a lot of them type “free stock watch list” on Google. For example, you can set up a watch list with Morningstar, MSN money or Marketwatch just to name a few of the many watch lists you can choose from.
These webbased tools are very flexible allowing the investor to select which attributes to display for the stocks you want to follow. Some tools also allow you to set up an alert notification once the stock has dropped to a predetermined price. This is a very useful tool which enables you to easily keep track of the stocks you are willing to buy once they drop to a price that makes them an attractive investment opportunity.
Watch lists help keep you organized and enable you to easily follow current information on the companies you are interested in. Personally I use Morningstar’s watch list which is very straightforward, comprehensive and provides me with the information I need to make timely investing decisions.