When you are fully invested, you need a way to easily know how the market is doing at any moment. A good way is to always be on your office and have “Thomson One” or “Bloomberg” open. Nevertheless, unless you are working in an investment firm or actively trading, the cost of those live quotes monitor can be expensive.
Good thing is that “Yahoo Finance” provide live quotes, so let’s take advantage of that.
*I use a Macbook air, so it’s super convenient for me…
(1) Keep an eye on important market index and your stock holdings:
- Top left corner: You have your stock holdings. From a glance every morning, you can see the price movements.
- Bonus: I put a sticker with my ACB (Average cost based) and the target I want to get out for profit or stop loss.
- Bottom Left corner: I monitor some market index to see what’s going on…
- S&P 500: US market large cap
- S&P/ TSX: CAD market large cap
- Dow Jones Industrial average: US large cap again, but more focused.
- USD/CAD: Exchange rate… How much CAD can 1 USD buy?
- WTI crude Oil: Oil price (commodity)
- Gold index: Gold price (Commodity)
- VIX: S&P 500 volatility indicator
- Bottom left corner, but not too left:
- Stock I don’t hold, but I am interested to look at on a daily basis.
- It gives some stock picking ideas.
(2) If you have an iPhone, you can see the same thing on it…
(3) Yahoo finance website:
- You can create your own stock list on Yahoo finance.
- Good thing is you can filter the data in a table with the column you like.
- % change: to really see the change compare to other stocks
- Bid-ask: Sell – buy price
- 52weeks range: see the high and low in the past 52 weeks
- P/E: see if it’s a bargain
- Yield: see what dividend yield you can get
(4) Yahoo finance volume leader:
- A cool feature I found was the volume leader screen.
- Just type “yahoo finance volume leader” in google
- It tells you in which stocks in different markets had the highest volume of trade.
- It gives you stock ideas.
“Portfolio management is like gardening. You want to know how’s the weather each day when you wake up. Which crops should I get rid of? Which crops should I add? Which crops grew enough that I should sell it to the fruit market? and why?”