I got into this thing at about $7 and as luck would have it, added about 750 shares at $3.80 on Monday. Sold off on the way up, getting out of my big positions and now holding the $3.80 position. I'm no expert on he stock, and am totally into this thing on metrics. That said, I wouldn't be afraid to dump some sharesand take a short position around $13. Thoughts?
I am new to EMES. I sold some CHK between $8.80-9.40 to buy EMES at $8.50...Here's what I know and what I like about EMES...
I watched it's rapid ascension a year ago. A buddy was recommending a buy at $140. Like those who say "Sell! Sell!" when a stock is at its low, he is frequently guilty of giddiness and saying "Buy! Buy!" when the stock is at its high.
With that in mind, I shorted EMES around $140 and covered it around $120...Obviously, I covered a little too soon. I'd forgotten about it until he wrote me the other day, lamenting the fact that I'd gotten out too soon. I laughed a little bit, went back, took a look and, dang, sure enough, there was EMES sitting around $9.
I looked again the other day and saw it had bounced back from the $6 mark and decided to start buying yesterday. Now I'm long, and a little bit nervous. I have a bunch of cash on the sidelines that I could add to my position, but I think I'm going to continue to wait a bit...We croseed the $9 mark briefly, but wow, what a hard pullback.
Add to that the fact that 1 million shares is a HUGE day for EMES and I'm a little leery about adding here. Maybe in the low/mid 7s; Maybe in the mid-high 6's
Patience is a virtue, but opportunism is rewarded also, so I'm seeking advice. The company news sounds rather dismal, but we sure did rebound hard after hitting $6.