Wall Tweet

With all the fear-mongering about short sellers and rumors, one might think we need less chatter about stocks zooming around the Internet.

Others would argue the opposite: That good information will drive out the bad in an open marketplace and that little investors need access to the same kinds of data and thinking that the big guys do.

That's the rationale behind a new Twitter-derived Web site, StockTwits. The site allows investors to microblog (140 characters or less) with others on stocks. You sign on to your Twitter account and follow investors and traders or particular stocks.

"You can think of it as Bloomberg for the little guy and gal," the site says.

StockTwits began today -- an auspicious time to start a new stock market feature. The market has been very volatile in the last week, with the Dow swinging more than 800 points in a single day. It has not been very volatile so far today, but it could be: some 80 million options on stocks, stock indexes, and exchange-traded funds expire today.

The site is the creation of Howard Lindzon, the hedge fund manager who founded the video blog WallStrip.

Lindzon explained his basic investing philosophy with the Globe and Mail of Toronto in 2007. Small investors shouldn't try to outsmart the big institutions by finding lows first, but should instead try to quickly follow them.

"You've got to be the little fish that swims under the sharks. If you think you're a shark, you'll get screwed. But if you swim with the sharks, you won't get the big pieces of meat but you also won't be in the sharks' eyes."

Those who think that investors are not ready to tweet via Twitter should keep in mind that there were those who scoffed at WallStrip, and its odd blend of humor and investing strategies. CBC bought the site in May 2007 for a price that was undisclosed but said to be $5 million.