Wednesday, December 9, 2009

Good Stocks To Buy Right This Second Now That You Know What To Look For

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Today I wanted to talk about some good stocks to buy right this second now that you know what to look for. You should already know from previous posts that you should be looking for stocks with strong earnings and buy them when they break out of a solid base. One place to start looking for stocks that are breaking out are on Investor's Business Daily in their where the big money is flowing. A handful of stocks are on that screen right now as I write this. They are Hi Tech Pharmacal (HITK), Steven Madden Limited (SHOO), Schweitzer Mauduit Intl (SWM), American Superconductor (AMSC), Tri-Tech Holding Inc (TRIT).

While these stocks may not be the best stocks to buy right now, they are showing a breakout in higher volume which is what you want to look for. What you would have to do is once they show up here, you need to put them through the rest of the stock screens like earnings and sales for example. While other stock market investing strategies might work, strategies based on companies actually making money makes the most sense to me.

Many times, rightly or wrongly, good stocks to buy today might break out on higher volume but have poor fundamentals. That's why the stocks in that screen are not buy recommendations. They are however a place to start reviewing stocks. Other places are the Big Picture column, the Stocks in the News column and the Weekly Review.

Resist the urge to buy a stock right away because it shows up on a screen. Review it for the proper buy point and remember to always sell any stock once you buy it if it drops 7-8% below your purchase price.

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