Stocks are on the upswing again. How do I know? I look at the stock market reports daily.
This was one of the first tips given by my financial planner to me – to look at the business page, particularly the big rectangular block full of numbers and letters, read it over, pick at least 10 stocks that I would watch daily, and watch them daily (yes, it is a commitment). He said that this way, I would develop a feel for it. This, he tells me further, is how the pros do it – everyday, full time. I looked at him, half-smiling (I was trying to convince him that I could do it) and half-wincing (I imagined it as a painful exercise). Sure looked like it was a lot of hard work. But I found out – it was not.
Let me tell you, I hardly ever looked at the business page before. It screamed boring! to me. After all, who cares about companies and mergers and acquisitions when there’s news that Actress A is pregnant and the dad is Actor B who is married and their story is played till kingdom come and I had 30 minutes to spare? Even the cartoon page would get first dibs.
I do not know what happened between that point and now. Because now, I get excited whenever I get to the business page. I scan the first page, eyes glistening, like a mother hen to her eggs, looking at the dollar rate on one side, the worldwide stock market index on the other (up or down), and then the front page business news – what the Citi Group said, are we downgraded by Moody, is recession going to hit, how far away is it? And then I turn the page, excitement building, to the stock market news. I look at the stocks, look with bated breathe at their opening/closing prices: if the stocks are up, it means I am making money, if the stocks are down, it means I can invest in more stocks, and make more money.
I turn to the rest of the pages, satiated, and read what businesses are doing (or what businesses are telling the world it is doing). Is Business A expanding, is a merger in the offing for Business B, is Business C launching a new product, how viable is this new product, which of them am I buying into next?
Because what we focus on expands (it is a principle in wealth attraction), I decided to dedicate a page in my website to my favorite stocks. This way, I can watch them closely and hear close range when they scream buy, or sell. Or just watch the magic.
Learn to love the business pages. It is the backbone of finance and you have to understand it if you want to stay in the game.
Stay in the game.
Article by Issa. Art by D. Copyright 2009.
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