I’m willing to deploy up to 25% of my swing trading capital right now on long trades. If conditions improve, I will allocate more. Read the report on current stock market conditions for an explanation of why this.
Below are the US and Canadian swing trading stock watchlists.
If I find one or two decent trades over the next couple weeks, that is all I am after in these conditions. Being selective is good.
If we continue moving up, there will be plenty of opportunities.
Charts below. Video summary of the watchlist here:
US Swing Trading Stock Watchlist
This a not a buy list. It is stocks I am watching because they have the potential to form a contraction/triangle pattern. I watch for these stocks to form valid entries based on the strategy.
This strategy and others are covered more in-depth in the Complete Method Stock Swing Trading Course, including how to scan and find trades.
From last week:
REGN – recently triggered out of consolidation.
TGA – Nice.
TTM – Stil contracting. Awaiting setup.
CIVI – Stil contracting. Awaiting setup.
SM – Nice cup and handle.
Added this week:
FANG – small pattern.
OVV – Cup and handle.
CNQ – Forming, nice.
MTDR – small pattern, still needs to fully form.
Canadian Swing Trading Stock Watchlist
Screen is the same, but I bumped volume up to 100,000 (and still had to drop one from the list because volume is too low).
Feels a bit like scraping the bottom of the barrel at this point. Had some nice breakouts last week with HME and SALT, and DRM already running when I posted last week. But there are a couple that are setting up.
From Last Week:
RHT.V – not signals yet, so as long as it keeps contracting I’ll be keeping an eye on it for a proper setup. Wouldn’t trade this as is…want to see it tighten more (this pullback needs to stay above $1ish then bounce and consolidate).
PEY.TO – Same as RHT.
Added This Week:
OVV.TO – Small pattern.
CNQ.TO – Small pattern.
WTE.TO – Kinda ugly looking, but is contracting. We’ll see if it sets up.
POU.TO – Forming.
Want to learn how to scan for and trade these patterns? Know which ones to trade and which ones to leave alone? Learn this strategy and others in the Complete Method Stock Swing Trading Course.
By Cory Mitchell, CMT
Disclaimer: Nothing in this article is personal investment advice, or advice to buy or sell anything. Trading is risky and can result in substantial losses, even more than deposited if using leverage. I may take positions in some of these stocks as they trigger, but I can’t trade them all. Which stocks I trade will depend on conditions at the time, risk/reward, stock strength, and other factors.