Monday, October 6, 2014

Opened EMES

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.

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