Good Time For Swing Trading Canadian and US Stocks
The US market isn’t the only one with opportunity. Canadian traders have had lots of swing trading opportunities recently as well. Below are some of the Canadian and US trades I have published over the last couple months. It is a good time to be swing trading…none of the swing trades I have published have produced a loss in the last several months! Although, that could change as some of these trades are still open. Below is a sampling of recent trades.
The methods used to find trades like these are covered in the Stock Market Swing Trading Video Course…a course that covers how to find and swing trade US and Canadian stocks. The methods also work with stocks on other exchanges, although in the course I only show how to use stock screeners for US and Canadian stocks. If you trade another market, you just need to find a stock screener for your market.
Here are some recent trades, with a bit of information on each. Hit the Maximize button the charts below to see a bigger of version of the chart. Hit “Esc” or the maximize button again to shrink the chart and keep reading.
Recent Canadian Stock Trades
First, up CIA.TO recently hit its price target. The trade had a 4:1 reward:risk, meaning if you risked $500 you made $2000 in profit. The chart shows how the stock looked when the chart was published. Click the “play button” to see how the price action unfolded. Note that on the Canadian exchange I will trade stocks priced near $1 or above, because the Canadian market is smaller and I don’t want to unnecessarily eliminate a good opportunity just because of the price. With US stocks, since there are usually more trades to choose from, I typically stick to trading stocks that are $5 and over.
MTY.TO is another trade, currently underway. Reward:Risk is 3.23:1. Not at the target yet, but currently showing a profit. If using the trailing stop loss, the take profit level is now above the entry point which should lock in a profit no matter what happens.
SAP.TO took off after the entry. It almost hit the 3.25:1 target, but not quite. They had earnings on Nov. 2, and in the Course I recommend getting out before earnings. Therefore, you would have sold just before that big dropped and netted a nearly 2:1 reward:risk…meaning if you risked $500 on the trade you made nearly $1000. SAP.TO is also setting up for another potential trade.
Other very recent trades on the Canadian market include PAAS.TO, FTG.TO and TECK.B.TO…all which are showing a profit and have moved above the entry price.
Recently Completed US Stock Trades
OLED hit the 3.37:1 Reward:Risk ratio target…although only after earnings. For most US stocks I exit before earnings announcements. If you click play you will see that earnings occurred just before the price hit the target. So in this case, profit would have been taken before earnings. Still a profitable trade, but the trade would have been closed below the target level. It continued to surge after. That’s a good sign because it means we may have another opportunity in this stock down the road. By the way, I am never concerned if a stock keeps running after I get out. There are always lots of opportunities out there, so the profits can always be taken and put into something else. Also, if concerned about missing out on a big run, the trailing stop loss method can be used.
WTW was another trade I liked. We can see that it did hit the price target, but once again, the target was hit after earnings. If exiting before earnings, you still would have made a profit.
There are always lots of swing trading opportunities out there, both on the Canadian and US exchanges. Especially the US…as that market has been very strong. The above trades are just a sampling of the many current and recent trades that are out there.
If you are in the US, focus on US stocks because there are a lot more trades to choose from and greater volume. If you are a Canadian trader, there are certainly opportunities in Canada (there are lots of good opportunities out there right now) but you may also want to consider trading US stocks as well.
Cory Mitchell, CMT