The Influence of Stock Discussion Boards
March 31st, 2006 by Grant in: Investing
I use stock discussion boards primarily for research. To get the overall feel for peoples opinion on a stock. I also use them for entertainment. Very rarely do I participate.
It’s really interesting to see the influence that a discussion board can have on a persons trading strategies. Then I got to thinking: “How can anyone base their buy and sell strategies on sentiment from anonymous discussion board users?”
Jim Cramer talks about the same thing in his book, “Confessions of a Street Addict“. Since reading his comments on website discussion boards, I’ve pretty much vowed to stay away from them so I don’t get sucked in. I’ve also determined to get more confident in my own trading strategy, and be very selective of who I take opinions from concerning the stock market.
What are your thoughts about stock chat boards?
Some of the boards I’ve watched:
- The Fool Community
- Google Finance Discussions
- Yahoo! Finance Discussion Boards
- Marketwatch.com Discussions
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