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.

Thursday, June 23, 2011

Canadian Stock of the Day Pick for June 24, 2011

A rise and a fall... either way, I put money in my pockets.

For June 21st, I chose SLW.TO @ $30.76.  While it actually ended up today, it triggered my stop loss at $31.08 for a guaranteed profit of 1%.  

June 22nd, I chose ELD.TO @ $13.93 with a stop loss @ $13.78.  It triggered and closed @ $14.43, a gain of 3.6%.  I raised my stop loss to $14.14 and it opened below that @ $14.07, triggering the sale at that price for a gain of 2.1%.

For June 23rd, I chose TDG.TO @ $8.62 with a stop loss of $8.53 but it did not trigger.

For June 24th, I'm choosing GIB.A.TO @ $21.26 with a stop loss of $12.14.  This is a fairly conservative pick that will move relatively slowly compared to several other opportunities.

So far, I have had two stocks up, one at even, and now another one up... for an overall profit of 6.5%.
See you tomorrow!
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