EMES has been absolutely rocked recently. I caught a bit of the bounce before on the day it put in a low. Buying at 53.57. IMO, that was a much riskier trade than my trade in it today.
Today, I bought EMES following the gap up opening. EMES caught an analyst buy recommendation reaffirming the business fundamentals. I confirmed the market was not a sea of red and the EMES wouldn't just pop and drop.
Exit: 62.58 +$3.26 +1.7R . Did I know that I would sell on the candle that put the HOD in? OF course not. But I could see some waning interest and I had other business to attend to and a very big profit for an hour and a half.
Given the recent history of this stock, I simply do not trust the bounce moves long enough to take the risk of waiting for secondary pushes. This stock is still very much in a downtrend.