October 29, 1997
- SITE SEEING -
By Andy Riga, The Gazette
It's not quite like sitting at a stock-broker's computer terminal as the floor falls out of the market, but investors who surf the Internet are getting at least a taste of the minute-by-minute drama of this week's market meltdown and resurgence.
As it became clear that Monday was not going to be an average day at the market, investors turned en masse to the Net for market updates, stock quotes, economic analysis and overnight updates on how Hong Kong and other Asian markets were faring. They also flocked to discussion areas to compare notes and predict the future.
Some popular news sites like CNN and MSNBC reported huge surges in demand, matching or surpassing the record number of visits recorded after Princess Diana's death. There were also traffic jams at online brokerages in the U.S., where buying and selling stocks via the Net has really taken off.
Many spooked investors turned to the slew of new stock-related Web sites that have sprouted up over the past year to cash in on the all the new first-time investors jumping into the market.
Most of these sites are U.S.-centric, though some are expanding their Canadian content. A lot of them charge fees for extras like analyst reports and in-depth technical data, but most offer at least part of their data free. Some allow users to set up online portfolios that can give instant snapshots of the value of holdings.
Here's a look at a few sites of interest to stockholders and mutual-fund owners, along with some places to visit for non-investors wondering what all the fuss is about:
- For breadth, ease of use and speed, it's hard to beat Yahoo!'s business news section (http://quote.yahoo.com). The low-on-graphics site relies heavily on up-to-the-minute news from Reuters wire service, but also provides stock quotes, market indices, stock charts, press releases and links to the Securities and Exchange Commission.
Hit the International Markets button and you can instantly see how markets from Toronto to Cairo are doing. Another click brings you to an up-to-date list of the big winners and big losers on the Montreal Exchange.
* For the latest on Canadian markets, Canoe (http://www.canoe.ca/MoneyNews) carries wire stories, along with reports from the Financial Post.
* CNN (http://cnnfn.com) and MSNBC(http://www.msnbc.com) both have extensive business news sections, though they're both hampered by an abundance of graphics that often slows visits to a crawl.
* Several sites are dedicated solely to investors. Popular ones include DBC Online (http://www.dbc.com), TheStreet.Com (http://www.thestreet.com), Microsoft Investor (http://investor.msn.com), Briefing.com (http://www.briefing.com), Daily Rocket (http://www.dailyrocket.com) and Motley Fool (http://www.fool.com).
A good listing of all the different stock-related sites can be found at Daily Stocks (http://www.dailystocks.com).
* Two Canadian stock-market resources offer free trial subscriptions: Canada Stockwatch (http://www.canada-stockwatch.com) and Canadian Stock Market Reporter (http://www.canstock.com).
* For alerts sent by E-mail, you can sign up with InfoBeat (http://www.infobeat.com). It offers regular E-mail updates on the markets and on the stocks you're interested in.
* Most major stock markets have their own Web sites, providing stock prices and information about listed companies. Check out the Montreal Exchange (http://www.me.org). Nasdaq (http://www.nasdaq.com) has one of the most extensive sites, complete with powerful charting tools.
* Owners of mutual funds can also keep an eye on their investments online. Most fund companies post their closing prices on their sites after 6 p.m. To find your fund company site, visit the Fund Library (http://www.fundlibrary.com) or the Investment Funds Institute of Canada (http://www.mutfunds.com/ific).
* Investment discussion areas have proven popular with small-time investors. The Motley Fool has attracted a big following by allowing people to chat about the market and discuss investment strategies and particular stocks. Several newsgroups are also devoted to the subject, including misc.invest.stocks and misc.invest.canada.
* Befuddled investment neophytes can turn to the Net for help understanding this week's roller-coaster ride. The Motley Fool offers backgrounders on the stock-market's workings. And you'll find useful glossaries at sites run by Montreal Exchange, Nasdaq and the Fund Library.
* If all the talk about the Dow Jones Industrial Average leaves you scratching your head, visit the Dow Jones site (http://averages.dowjones.com) and read up on the its history and learn how it's calculated.
- Andy Riga may be reached by E-mail at ariga@thegazette.southam.ca
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