I wrote about CP Rail (CP) on February 23, at which time it was trading at $120.69. I definitely regret not buying it. Since then, it advanced to $132, fell to $121 (a second chance!) and now it remained among the top five stocks I was watching until a couple weeks ago. Now it’s back in first place, at a price of $142.42.
I wrote about Valeant Pharmaceutical (VRX) on March 2, when it was trading at $69.55. After rising throughout March, the share price seemed to pause during April, only to continue its climb recently. Last week was the only week it dropped off my watch list. It’s now trading at $80.42 and it’s fourth among my top five stocks.
Magna (MG) drew my attention on March 8 at a price of $57.75. Except for two weeks, it remained on my watch list, where it now holds second place. It still appears to have good momentum at $67.11.
Momentum is not a foolproof strategy, and it doesn’t avoid (or even reduce) volatility. But it really appears to work over the short-term.