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.

Tuesday, June 21, 2011

Canadian Stock of the Day Pick for June 21, 2011

We continue to battle depressed market conditions... and I suspect it will continue in the days ahead.
  • For June 16th, I chose MG.TO @ $44.99 with a stop loss @ $44.50.  It triggered and closed Friday @ $47.47, a 5.5% gain.  On Monday, it triggered my stop loss of $46.52 by 2 cents... for an overall profit of 3.4%.
  • For June 17th, I chose CGX.V @ $25.56 and it closed @ $25.46, triggering my stop loss for a basically break even trade. 
  • For June 20th, I chose TOU.TO @ $29.70 with a stop loss @ $29.40 which didn't trigger.
So far, I have a running profit of 3.4%.

For June 21st, I'm choosing SLW.TO @ $30.76 with a stop loss of $30.44.

See you tomorrow!

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