Stock picking is not easy as the markets are always in a continous state of flux. You need to continously monitor the stock market and make sure that you have enough information available to you to buy good stocks.
Things You Will Need
Annual statements of companies
Reputed financial daily or a stock market magazine
TV to view the market health via business channels
Step 1Always stick with the fundamental principle of buy low and sell high. That will mean that you should never buy the stocks that are overvalued. In today's scenario bank stocks represent that opportunity. Citibank(C), Bank of America(BAC), Goldman Sachs, Wells Fargo and JP Morgan should constitute the top 5 of the top 10 stocks to buy right now.
Another fundamental thing to know is the value investing principle. Value investing means that there are stocks whose prices are low because of the external temporary factors like bear phase of the market or a given special situtaion like government bailout. Investors should constantly look out for these stocks as these represent good opportunity for long term investment with prices being low right now.
Seasoned stock market players should invest a part of their portfolio in defensive stocks which will help lower the overall risk. That will mean that Wal-Mart and P&G should be part of your portfolio now as the markets are in turmoil.
Step 4Momentum stock investing is a way of investing where you pick a stock when it is rising ,then you continue to ride the stock and dump it when you reach you targeted percentage profit. You do not hold these kind of stocks for long term investing. Most penny stocks and small cap stocks fall in this category.
Step 5International stocks also present a good opportunity and you can invest in the ADR's of these companies listed on NYSE. The best stocks in this category are Infosys(INFY) and Petro China. There are a lot of other stocks which you can use for the investment purposes like gold stocks. I hope that the above principles and methods will help you select the top 10 stocks to buy right now and make good money.
Tips & Warnings
Always do adequate fundamental analysis as well as technical analysis of a particular stock before buying.
Continously monitor your portfolio.