Oh...
Something important for people to understand...
SEC.gov | SEC Obtains Emergency Asset Freeze, Charges California Trader with Posting False Stock Tweets.
Stock tips from social media.
Totally goes against the rules I use for trading. Mostly because of the old axiom about "Pigs getting fed slop and hogs get slaughtered."
There are places to go for where to begin to look for companies to invest in. Social media outlets are not it.
And even though the respectable outlets that usually have sound advice try to drum up excitement to buy a particular stock...that's all there is about that...a starting point. One of the names put into a funnel.
I then look at the chart. See if it is actionable. I then look at the fundamentals of the company. PE ratios (forward and trailing), PEG, short interest, cash flows, sales, and performance of earnings. I look for new products for their business model...all kinds of things that will affect sales. I ask who are their customers and largest customers and who is increasing purchases. Client base is how wide? Then I check multiple analyst's thoughts on the company in relation to the sector. Then lastly I look to social media outlets to ensure that this company is off the radar of social media.
Then I set my target points...my entry prices and rough targets for exit.
Of course all this dry reading is boring...of course this is not fun. But this is called due diligence. This is why I make good trades and make money at it.
Yesterday alone I went through analyzing 60 different companies and found four that I might buy today. Might not...it completely depends on what happens.
Out of reputable sources I hear over 100 different stocks. (Multiple sources)
From that I got 60 stocks to look at.
From the 60 I got four that I might act on. Others that might be actionable in the future.
And today I might buy one or two.
And now you know why "pigs get fed slop".
Thats hours and hours of boring research for one or two trades that might work out...just for someone else to ask for a free ride?
Puhhhlleeeeze.