CoryMitchell-CMT
Long

Another Swing Trade in CFP.TO

TSX:CFP   CANFOR CORP
260 views
3
Long-term uptrend.
Generally, quick turnarounds following the pullbacks.
Decent reward to risk, although expected percentage gain is not that high.
Have had a quite a few trades in these timber stocks over the last couple years.

Trade triggered on Friday. If not in, need to wait for a pullback to the entry area (only if it happens in next day or two).

Disclosure: long
Comment: Entry is 31.02, not 31.10

Comments

I got stopped out on this one today. Should've got out earlier I guess on July 18th when it had a big reversal.
Reply
@burnz, Yeah, it started out really good. I made a tiny bit. Usually, once the price has moved significantly toward the target, if it starts to reverse I will move stop loss up to just above my entry point. Typically the really strong stocks don't pullback that far, and the ones that do often keep dropping. So I try not to let a decent profit turn into a loss. And, on the off chance it does decline to the entry point and stop me out for a tiny profit, but then starts to look strong again, can always get back in.
+1 Reply
burnz CoryMitchell-CMT
@CoryMitchell-CMT, Nice I like that, makes sense. Thanks for the tip, I will keep that in mind for the next one.
Reply
IFP.TO has a similar setup.
Reply
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