EMES has been one of my favorites but it has gotten smashed since september down 45%. Another bounce off 100, which has been good for 10% + moves. I figured as a M/R trade this set up is as good as any. I'm not seeking a change in the fundamentals but clearly something is not going well in the sandbox. Or this could be an amazing entry. We'll see.
I bought at 103.48 as SLCA went green and HCLP had made back over 1/2 its 4pt loss. EMES appeared to be bouncing until it didn't at the close.
I expect this to be a short term trade- likely 1 day.
Stop at days low.