Tuesday, August 5, 2014

Closed EMES

I bought the beginning of the pull back.  A day early perhaps but I rode out the reversal and Sold out today for a healthy gain.

Entry: 108.46
Exit: 114.67  (+6.21) I also picked up a 1.17 dividend  for a total on the trade of +7.38   6.8% Total 1.3R

I was saved on this trade by the strength of overall of the industry.  Instead of trying to by "cheap" I should have waited until the reversal was confirmed.  Had I bought the day after the reversal candle, I would have gotten a much safer entry if not a better price.

I took profits today because it rallied in the morning off HCLP's earnings which were very strong. HCLP then started to get sluggish and sold off.  Rather than wait around and see what happens,  I decided to get out as EMES has earnings tomorrow and I think it is likely that it could sell off despite fantastic earnings.  

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