Recently the MarketSmith team demo’d for me their latest project, iPad app Top Stocks by MarketSmith, and I was impressed to say the least.
MarketSmith is a premium stock charting application, a sister company to Investor’s Business Daily (IBD). I personally use MarketSmith and have been a fan since its old days when it operated under the Daily Graphs name.
MarketSmith costs $999 per year for access, and as a result is used by predominately more serious investors who can justify the cost. Not having a product to target investors who may not trade frequently or are new to the market, Top Stocks by MarketSmith was created to allow investors as many of the same features as possible at a much lower price point.
The best part of the free version of the app is the access to MarketSmith charts for all stocks. This alone is a steal of a deal. You can look at daily, weekly, monthly, as well as intraday charts.
With the free app, each day there is a new ideas list of stocks to look at. As a non subscriber, you only get to see five stocks from the list, which is just enough to satisfy your research taste buds while leaving you wanting more.
For investors wanting fundamental research, there is arguably no one better at it than IBD. With the basic version of the app you can see full institutional grade fundamental research for the five stocks featured each day. To see research for any other equities, a monthly subscription is required.
The App itself is free, and then there are two premium tier subscriptions for those who want access to more research and data. The free app has ads but allows you to view unlimited charts alongside fundamental research for the 5 stocks that are in the day’s featured watchlist. Top Stocks Plus and Top Stocks Premier run $4.99 and $29.99 per month, respectively, but unlock additional features such as unlimited research lists, custom watch lists, complete fundamental evaluations, and more.
Overall I was extremely impressed with Top Stocks by MarketSmith and see it as a valuable tool for any investor who does not have a full subscription to MarketSmith already (MarketSmith has its own iPad app). Especially for new investors, having access to daily ideas, detailed charting, and institutional research available on demand is not something you can normally access for free.
The app can be downloaded from the iTunes App Store, and for those who do not have an iPad, do not fret, the MarketSmith team informed me an iPhone version will be released in the future.