Good Stocks To Buy

Today is a tough day to look for good stocks to buy but as usual we are going to give it our best shot. As I continue my series on Buying Stocks - A Case Study, my first order of business is to take a look at the general market indexes and see if there is any change in the general market direction. Surprisingly, there was no distribution on any of the in major indexes. I say surprisingly because most of my stocks got hit pretty hard today. One specifically FFIV which I just purchased today dropped double digits. As is my current practice, I am only trading after hours and making all of my decisions after the market closes, I will put in a sell order to be executed at the market open. That's what happens though when you buy a stock that is extended to high from its buy point.

Anyway, if you are just joining me before I go on, I should catch you up buy giving you a few links to some of the previous four posts before I move on. You can find them by using these links.

Stocks To Buy
Best Stock To Buy Today
Stocks To Buy Today
Best Stocks To Buy

The one bright spot today is MSB. In that position, I'm up over 18%. Without much experience in how the market will react tomorrow, I'm thinking it will rebound somewhat consider the market as a whole volume was much lighter than the previous day. So, we'll see.

In checking my screens, it's probably no surprise that not many stocks showed heavy volume then, especially since it's more tech heavy. Most stocks then came from the NYSE side of the table. The stocks that met my screens today were:

PPO, MSB and TPCG

Yesterday, I could have selected TPCG (up 5.44%) instead of FFIV (down 12.52%) so made an error there. However, it shows me my selection criteria are finding some good opportunities. It's the end user that needs to work on his picks.

Finding good stocks to buy is part fundamental and part technical. Finding the best buy point is the key factor.

I didn't really see much that I really liked but finally decided on PPO. It looks as if it broke out of a three weeks tight base on volume 50%+ higher than yesterday. While I'm still honing my chart reading skills to see which shares to buy today, I've put a chart here so you can see the breakout. (The volume on this chart is weekly but on a daily chart you'd see the slight surge in volume.) For me as far as good stocks to buy right now goes, it met my criteria and was close to a buy point as I could determine. The thing about chart reading is that you have to start by practicing and learning from your mistakes. That's what I'm doing here.

I've been learning a few things here that justifies going through the process of practicing 100 trades before I invest real cash. First and foremost is that the market is pretty unpredictable. I'll be watching my stocks carefully as several lost ground on higher volume. I'd tell you exactly but investopedia is still down. Pretty bad for a pretty good simulator. I guess that's what I get for that huge subscription I have been paying lol. Anyway, good luck finding good stocks to buy now and keep me posted on your stock market investing progress.