Wednesday, July 30, 2014

Opened: Emes

I bought EMES after it reversed and came in hard.  It then bounced and I bought $108.46.  Stop just above he 50MA  104.50

In someways this feels like a reactionary trade, rather than a set up I normally would prefer.  I felt that  the sell off was unwarranted in this sector as SLCA just reported great earnings and guided higher.  ALL fracking sands were up in the AM and all reversed especially hard.   But it has routinely done so during its ascent.  Buying the dips below the 20 MA has paid off well. .  I  guess the choice is either this huge trend continues or it doesn't.  I bet that it does, I haven't seen signs that the fundamentals will change. So here we go again.

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