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.

Monday, July 25, 2011

Canadian Stock of the Day Pick for July 26, 2011

I continue to expect wild swings and an unpredictable market.

For July 25th, I went 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.  Once again, it did not trigger... and once again I'm glad I don't buy just because I feel like it or it's a good stock... but I wait for the right timing.

For July 25th, I'm also choosing FSV.TO @ $33.52 with a stop loss @ $33.18.  It triggered and lost 1% in the same day.

For July 26th, I'm choosing FES.TO @ $13.91 with a stop loss @ $13.77.

UPDATE

So far, I have had five stocks up, one at even, and five losses.. for an overall profit of 6.3%.   

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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