Stock Pick for August 24th 2007
It has been a while since I did the stock picks, so I think I'm going to get back into it. I'm in the process of developing another side of my website that caters to this sort of thing. I find that paper trading is difficult to keep up with. An organizational scheme and a bit of automation should help with it.
Anyhow, I was playing with the StockScores website again and came across Polar Resources Corporation. This is a stock by the symbol of PLR that trades on the TSX's Venture Exchange.
If you remember my articles on StockScores, then you know that it takes certain criteria to make a stock worth picking in their system. I'm still trying to see if I can paper trade (fake trade) using this system and get some sort of steady results.
PLR has a signal score of 98 and a sentiment score of 73 at the end of today. This is worthy of taking a look when it has these scores. Looking at the graph, you can see that it recently broke through to a new high price on unusually higher volume of trading and has been increasing consistently over the past 6 months.
PLR
If I bought into the stock today, I would pay $0.265/share. I would also say it is reasonable to expect support at $0.17. If it falls below this, it would be time to sell the stock, no questions asked.
So let's pretend we purchased the stock and I will recap in a week and a month where it has gone.
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Category: Investing
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