Canadian Stock of the Day for August 31, 2011

You might think I have a Crystal Ball...

Well, my disappointing results here for a while will prove that is not true.  What I've found is that the volume is lighter on these CND picks and, therefore, they move around skipping pennies here and there and causing my stocks to stop out (when I had the immediate stop loss rule in place).  I removed that on the weekend... as I explain in the Canadian Stock of the Day Update and I think we will see a noticeable difference going forward.  Take a moment to compare that to US Stock of the Day.

August 29th, I chose TOU.TO @ $32.07.  It closed at $31.80, for a .9% loss.  I set my stop loss @ $31.60 and it triggered for a 1.5% loss.

August 30th, I chose SVM.TO @ $8.18.  It triggered and closed @ $8.75, a 7% gain.  I'm setting my stop loss @ $8.43.

August 31st, I'm choosing MG.TO @ $36.60.

UPDATE

So far, I have had 8 stocks up, 2 at even, and 10 losses.. for an overall profit of 15.6%.   

If your interested in a more stable approach to trading, consider the weekly model at http://investinthemarkets.com/ where we continue to make consistent returns without the stress that the daily markets may cause some investors.   

See you tomorrow!