In this video I want to explain how to use Watch Lists.
Managing Watch Lists
Watch Lists are available to registered users only, therefore I'll start with signing in using my demo account.
If you just registered you shall have at least one Watch List with the name "Default" available to you. Just like I have in my demo account. Of course, you can add more Watch Lists.
I'm a fan of Phil Town and I want to add stocks that meet the Rule #1 requirements to my watch list. So, I should change the name from "default" to "Rule #1".
In order to do that, I'm going to go to the "Watch Lists" menu item on the left and click on the Watch List "Default".
In a context menu pop up, I select Edit and change the name in the popup window. Click "OK" - done!
Adding stocks to Watch List
I know a few stocks that, I think, could be qualified as Rule #1 stocks. Apple is one of them and I want to add it to my watch list.
I'm going to click on my "Rule #1" watch list, select "View Content" from a context menu - it shows all the items in my watch list and there is nothing so far. I click on the "Add Stock" button, type AAPL and click "Add" - great! Now I can see Apple in my Watch List.
I remember that Google is a very good stock too, but cannot be sure if it meets all my criteria. Let's check it out! I click on the "SA" button in the top menu, type GOOG, and click "GO". OK, I see all my ratios now, financial statements, price chart... Everything looks good and I want to add it to my watch list too.
One thing that bothers me is that I do not think that value price can be that high, so I want to adjust it a bit. Based on my analysis, Future Earnings per share growth should be no more than 20% and Future PE is about 20 as well. Let's see what value price it will give me. I click on "My Numbers" button and get result - $1,056.
This is still high, but more realistic to me. So I want to add GOOGle to my watch list with a value price of $1050. Right here, at the top of the Stock Analyzer page with the Google results, I can see a button "Add to Watch List". I select my destination watch list and input my value price of $1050. Click "Add". Done!
Notice, that when I added Apple, I did not input "My Value Price" and therefore value price for Apple will be automatically adjusted for me by stock2own.com. However, for Google, I entered my estimate and it will stay there as I entered it, until I change it!
Now let's check the results - I select the "Rule #1" watch list from a drop down menu at the top left corner of the screen - simple as that! Both stocks are there - very good!
Watch List View
Notice that Value price for Google has a small asterisk next to it - this is a reminder that value price for the stock was entered manually and will not be automatically adjusted when stock2own discovers new data. As you can see, a lot of important data elements are here, right in your watch list. You can see elements of fundamental analysis: Growth Grades, PE, Earnings Per Share, PEGY, value and margin of safety prices. This is all useful, but I do not remember what Beta means and why it is highlighted? I'll point the mouse pointer to this value and a reminder explaining the value is here! It will work the same way for other ratios in this view.
You can also see elements of technical analysis here - most recent market price, the market condition the stock in (bull or bear), technical indicator alert and RSI (relative strength index).
Most values are highlighted, so you can easily recognize "red" flags and "green" signs.
If I click on any stock in the list, in the context menu I can see that I can
- Delete the stock
- Edit - it will allow me to adjust or set my value price
- Analyze - calls Stock Analyzer for the selected stock
- I can see Price Chart for the stock - loads a simple static price chart, which includes several moving averages, stochastic, RSI and MACD.
Now, let's check how it will look like on my iPhone. I have already signed in and all I need to do is go to my watch list.
It shows all my stocks, the background color defined by the most recent price move (when price moves up it is green, when price goes down it is red). There is also: market condition, most recent price, price change, technical indicators alert, Value price and margin of safety.
Click on any of my stocks and I see the same context menu with the same functions available on my smart phone!
There is only one thing left that I want to cover in this video - I want to add one more Watch List for all my currently open long positions. I click on "Home" and there is an "Add New Watch List" button available. The same functionality is also available in the "Watch Lists" mode - click on the Watch Lists and click the Add new button. I want it to be for my long positions, so I'm going to call it "Long Positions", click "OK" - done.
By the way, if you are not in the "Watch Lists" mode, on a home page, for example, a single click on a watch list name will direct you to the watch list's content. Which is nice, because I'm not going to add or rename my watch lists every day, but I definitely want to check all my stocks on a regular basis. So it is a bit faster - just one simple click and I can see all the stocks in my watch list.
Now I'm ready to manage my stocks in stock2own. I hope you are too.