Daily Homework: 1. Read Google News or Yahoo News headlines and business stories with your coffee or tea. After skimming the general news headlines, then read the specific Business News section about specific company and market news. 2.. Monitor Business TV News If you can, at work (or if you work from home), keep a channel like CNBC on so that you can see events as soon as possible that may affect your stocks (or may present opportunities to buy more or different stocks). Remember, you should treat your portfolio as a small business entity that you are protecting. You are the small business owner, and the CNBC reporters are your “direct reports.” Their job is to work for you, and to update you on news events, and upcoming earnings reports, actual earnings beats or misses, etc. that can affect your stock directly or indirectly (for example, your company’s competitors). 3. Always know the 4pm Market Closing Status. How did the market perform? How did your stocks' sectors and industries act that day? Look at your portfolio and know how your stocks ended the day. Determine (and take notes) on whether you should take any actions the upcoming day.
Weekly Homework: 1. Take stock (excuse the pun) - Evaluate what happened in the previous week. How did the stock perform? How did its sector perform - or the market as a whole? Compare it and conclude if it is doing better or worse. 2. Plan the upcoming week. Are there any earnings reports or company or industry events that may affect your stock, for which you will have to be exceptionally vigilant on that day (or just before or after it). 2. Plan the upcoming week. Opportunities in the coming week? Make a list of what to watch in the next week... Competitor's earnings report that may affect your stock? An industry event? Simply plan out your week, the days of the events, and your evaluation of the impact - positive or negative - that they may have to create buying or selling opportunities that you might anticipate to move quickly on.
More to come... We know that there is much more that we can suggest in this step, and we are rapidly moving to improve this routine by interviewing market experts, but also appealing to you for your routine - please tell us what you do weekly, here >...
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