Wednesday, December 3, 2014

EMES Daytrade

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.  

Entry: 59.32
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.

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