Buy this stock, it's the bomb!

August 4, 2006 9:59 AM

Where online do you go to find "best buys" (tips, recommendations, etc.) about new and hot stocks (not of the chicken variety)?

I'm thinking of investing a little scratch in ye ol' stock market, and was wondering if any Wall Street saavy MeFites could point me to some good online sources for stock buying recommendations. Last time I invested, I based my purchase on a little sidebar I read in Business 2.0... doubled my money and pulled out. That's what I'm looking for, only online.

posted by c:\awesome to work & money (9 comments total)

The short answer is that if such reliable information on the future of markets existed, everyone with access to it would be fithy stinking rich and would not devalue it by sharing.

The Complete Guide to Wall Street Self-Defense at Slate is a good place to start reading before investing.
posted by Doctor Barnett at 10:46 AM on August 4, 2006

When was this, like 1998? That's like bragging about getting drunk at a frat party...

I check Hoovers frequently to see which IPOs come up. Osiris could be interesting -- they received a lot of buzz a while ago.
posted by geoff. at 10:49 AM on August 4, 2006

I've started getting inundated with spam comprised of stock tips. (If you'd like, I'll forward some of it to you?) I've often assumed that they're hoping for a short-term rise as people buy it, which makes me wonder if I should start trying to short some of the stocks I get spammed about.

I just read The Little Book That Beats the Market, an interesting read.
posted by fogster at 11:36 AM on August 4, 2006

fogster, there was a post in the blue (I think) that linked to a rudimentary study someone did of the stocks included in spams the author got. They all seemed to bounce up very slightly initially, and then drop. They all seemed to be penny stocks..
posted by inigo2 at 11:56 AM on August 4, 2006

Generally, you don't. People who really know stuff aren't posting it online, at least not in the form of "buy XXX, its going up over the next year!". In fact, posting specific stock recommendations online is very tricky and considered a pretty shady practice. Notice that about the only people doing it are spammers. You _will_ find some really good analysis, research, and long term advice so you can make a well informaned decision.

I would recommend putting it into something solid, like an index fund or look at ETFs if you want sometime more targeted.
posted by rsanheim at 12:01 PM on August 4, 2006

i like http://pink-sheets.blogspot.com

(not me- and not pink sheet stocks either....)
posted by Izzmeister at 12:07 PM on August 4, 2006

you can't really short those stocks you get spammed about, otcbb stocks aren't really shortable (legally.)
posted by Izzmeister at 12:08 PM on August 4, 2006

The Big Picture is an interesting blog written by someone who is a market timer. Market timing requires a little bit more thought than simple "hot stock" tips, but it's also a good way to play with fire and feel like you have some insider knowledge, if that's what you're looking for.
posted by alms at 12:57 PM on August 4, 2006

there are plenty of tips floating around on the internet, but they are all put there by pumpers - people who buy low, get suckers to buy in on thinly traded stocks, then when the price goes up, they get out. Sometimes they short the stock and talk it down - bashing. If you don't believe me, try it for a while and within a few months you'll be getting notices from lawyers about class-action suits.
I make regular good money on the market, but whenever anyone asks me, I tell them to run, don't walk, away from it unless they are willing to make a serious commitment in time and study. I use Investor's Business Daily for ideas, and do a lot of technical analysis on Stockcharts.com. But I spend about 2-4 hours a day, plus full time on weekends, researching.
I happen to like it but for most people it's a sucker's market. Especially right now.
Better to set up a regular allotment into a simple family of low-cost mutual funds like Vanguard. Trust me.
posted by annabkr at 2:16 PM on August 4, 2006