In the first part of my week long homework week I’m going to talk about starting right from the start, looking for your stock prospects.

Just like in a sports draft teams will compile a list of players, begin looking them over on film, watching their games then they will develop their first opinions of the player. The same goes for stocks, I begin by just looking around for things to catch my eyes, reading headlines, various investing websites to see whats going on. Each time I find a stock that I have any interest in at all I write it down on a piece of paper.

Also if their is a sector that is hot I will go through the list of all listed companies in that sector (best found on Yahoo! Finance) and go company by company doing a quick 1 minute look at the news headlines, charts, balance sheet if it looks like it has any potential in any way I’ll add those to the list. Once I’ve got a list of stocks I’m happy with then I’m done my initial list.

Within that list their is a winner it’s just time to start finding it and that’s what day 2 will be about. Taking that list and cutting it down to a couple stocks that you do in depth research on and eventually get it down to 1 (maybe 2) stocks and then buy.

Here is a list of the sites I use most for stock related news and information.

Yahoo! Finance

The Street

Globe Investor

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