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Looking at the daily chart of Petro-Canada it looks as it’s been forming a flag — it looks bullish too me but we won’t know until it breaks up or down. The stock has strong fundamentals.

daily chart

American Express (AXP) - when looking at candles activities for this stock I see a nice hammer (yesterday) and a beautiful candlestick bullish gulfing pattern today (so far). Is it ready to reverse? Going to my “HOT” list right away.

Engulfing Pattern: A reversal pattern that can be bearish or bullish depending upon whether it is in an uptrend or downtrend. The first day is characterized by a small body, followed by a day whose body completely engulfs the previous day’s body.

Johnson & Johnson (JNJ) - I wrote about JNJ here before but today it’s also displaying a very nice engulfing bar. To my “HOT” watch list.

I have been receiving a number of different questions regarding information on this site, so I thought I should answer some of them by using a generic post. Here we go:

1) What does the XXX.TO (example CNR.TO) symbol mean?

The suffix .TO is what Yahoo! Finance use for stocks traded on the Toronto Stock Exchange. I prefer to always refer to the symbol conventions used by Yahoo, it’s just easier for me.

2) Are your trades real?

Yes, absolutely.

3) Which software do you use for your charts?

Medved Quotetracker (currently fed by TDWaterhouse datafeed - just because is free)
ExcelTA - my own proprietary tool
BigCharts charts (free)
StockCharts charts (free)

4) Why did you stop posting for awhile?

Because the market was just consolidating. I was sitting on cash waiting for the right opportunities.

5) What sort of setup/filter do you use for your trades?

I will post an update trading plan soon. It will have specifics on markets, entries, stops, exits and scanning.

Excellent week (for my capital, I’m a small player). Biggest gains on IMO.TO and CNR.TO. TSX will be closed on Monday for Victoria’s Day.

Unrealized PL $ -378.00.

Portfolio