One of the first things I notice as I delve into the world of investment opportunities, is there are a zillion tools people use to make their stock picks. There are the fundamentalists, the techy-geeks (no offense, I'm jealous I can't read charts yet!), the copy-cats, the followers, etc. I'm sure you get the picture. I had decided early on, I'd base most of my choices on the fundamentals, mainly because I did not understand the technicals. One of the first books I read was Rule #1 by Phil Town and I thought his "rules" seemed simple to follow and effective for choosing stocks. I studied his formulas and started some spreadsheets. I used the tools on his website. Using his process I realized what sectors I was interested in and found some nice stock picks. I followed them on paper for a while. Then I started to get bored.
Shortly thereafter, I discovered stock screeners. I decided that in order to build my capital up as quickly as possible I had to find some big gainers that were very affordable (we are talking $1-$5 stocks) as my entire future as an investor was starting out with the minimum $500 you need to set up a Scottrade account! So I discovered a few good ones this way. One really good one was YTBL. It did some amazing things as some of you may be aware of and my good friend profited huge from it.
So basically, I'm finding some good picks by doing some very unconventional methods, such as screening for stocks in what I consider to be "not the correct" way to do it and also using my "women's intuition". I look for what I like to call "signs". Such as finding a stock in my screener and then the very next day reading about it in Business Week. Or hearing about a company from a friend at work and then my screener picks it up that night. These are not proven methods but so far they have led me in the right direction and now I feel almost confident enough to start snatching some of these picks up! And I did with my purchase yesterday!!
So in part, this blog will be a diary of my learning curve but also will demonstrate the possible differences that may exist between men and women investors, and which one really "get's it"!
Wednesday, February 28, 2007
Tuesday, February 27, 2007
Made the leap!
Today marks the beginning of my leap into the stock market! Decided to finally jump in and purchase my first stock: PRW.
Pro-Pharmaceuticals Inc.
189 Wells Avenue
Newton, MA 02459
Site: http://www.pro-pharmaceuticals.com/
Pro-Pharmaceuticals, Inc., a development stage company, engages in the discovery and development of carbohydrate-based therapeutic compounds. The company focuses on the target delivery of chemotherapy drugs for the treatment of cancer. Its lead product candidate, DAVANAT, is in Phase II clinical trial for the first-line treatment of cancer of the bile duct. DAVANAT is a proprietary carbohydrate (polysaccharide) polymer comprised of mannose and galactose carbohydrates in a CARBOSOME formation. The company also conducts preclinical studies with DAVANAT in combination with other chemotherapies, including irinotecan, doxorubicin, paclitaxel, oxaliplatin, cisplatin, and bevacizumab. It has a Research Collaboration with Mount Sinai School of Medicine to evaluate the anti-fibrotic effects of carbohydrate compounds. Pro-Pharmaceuticals was founded in 2000 and is based in Newton, Massachusetts.
First found this stock in the MSN Stock Screener on 2/20/06 and on that day it closed at 1.06. Purchased today at 1.1699, 300 shares. Of course, the market as a whole decided to bomb today but how was I to know? It will bounce back though. So I am officially a "player" in the market! Whoo hoooooo!
For a little background on Moi, I am a gal, almost 40, who after some recent events decided to delve into the world of stock market investing. The "recent event" was a great friend coming to stay with us and telling us all about how he turned $5000 into $50,000 in a very short time. I'm no dummy and know this can be done and so I decided "if he can do it, so can I". Thus the beginning of my journey! I hope you will travel with me on my road to riches and perhaps someday down the road, someone might learn a thing or two from me as well!!
Pro-Pharmaceuticals Inc.
189 Wells Avenue
Newton, MA 02459
Site: http://www.pro-pharmaceuticals.com/
Pro-Pharmaceuticals, Inc., a development stage company, engages in the discovery and development of carbohydrate-based therapeutic compounds. The company focuses on the target delivery of chemotherapy drugs for the treatment of cancer. Its lead product candidate, DAVANAT, is in Phase II clinical trial for the first-line treatment of cancer of the bile duct. DAVANAT is a proprietary carbohydrate (polysaccharide) polymer comprised of mannose and galactose carbohydrates in a CARBOSOME formation. The company also conducts preclinical studies with DAVANAT in combination with other chemotherapies, including irinotecan, doxorubicin, paclitaxel, oxaliplatin, cisplatin, and bevacizumab. It has a Research Collaboration with Mount Sinai School of Medicine to evaluate the anti-fibrotic effects of carbohydrate compounds. Pro-Pharmaceuticals was founded in 2000 and is based in Newton, Massachusetts.
First found this stock in the MSN Stock Screener on 2/20/06 and on that day it closed at 1.06. Purchased today at 1.1699, 300 shares. Of course, the market as a whole decided to bomb today but how was I to know? It will bounce back though. So I am officially a "player" in the market! Whoo hoooooo!
For a little background on Moi, I am a gal, almost 40, who after some recent events decided to delve into the world of stock market investing. The "recent event" was a great friend coming to stay with us and telling us all about how he turned $5000 into $50,000 in a very short time. I'm no dummy and know this can be done and so I decided "if he can do it, so can I". Thus the beginning of my journey! I hope you will travel with me on my road to riches and perhaps someday down the road, someone might learn a thing or two from me as well!!
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