Canadian Stock Pick of the Day - Understanding How it Works

Canadian Stock of the Day is for traders who are looking for a Canadian Stock to trade each day. I base my picks on Canadian Stocks I follow on the TSX or Venture Exchange, watching for a swing in the momentum upward. I keep a tight stop loss on all trades to minimize my risk... and allow the great stock trades to continue rising. These are not recommendations... merely entertainment. Please see the warning at the bottom of this page.

If you have any questions, don't hesitate to contact me @ contactdoctorstock@gmail.com. For a US stock of the Day, look at http://usstockoftheday.blogspot.com. Also, you may not be a short-term trader... for more stable, longer-term trades, check out http://investinthemarkets.com.

Sunday, July 24, 2011

Canadian Stock of the Day Pick for July 25, 2011

Last week was almost a mirror opposite of the week before... and we continue to make profits.  I suspect this week, with all the political posturing in the US, will be volatile and may lead to a sharp rise or fall in the markets, depending on their interpretation of the US political posturing.

WFE.TO - purchase July 20 @ $7.59.  I set my stop loss @ $7.87 and it triggered on Friday to close for a quick 3.7% profit.

July 22nd I chose for the 2nd day in a row MG.TO @ $49.92 with a stop loss @ $49.42.  It did not trigger.

For July 25th, I'm going with two... only because I can't let go of MG.TO.  So, I'm raising my purchase price for MG.TO to $50.11 with a stop loss @ $49.60.

For July 25th, I'm also choosing FSV.TO @ $33.52 with a stop loss @ $33.18.

UPDATE

So far, I have had five stocks up, one at even, and four losses.. for an overall profit of 7.3%.   

If your interested in a more stable approach to trading, consider the weekly model at http://investinthemarkets.com/ where we cashed out (sold) 4 positions last week... for an overall profit.  We continue to hold some healthy gains, including one at 29% plus.

See you tomorrow! 

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