Each week at ChartSmarter we like to bring to a little insight into what we do on a daily basis. We have been at it for more than 4 years and we love doing it. Each night we detail 8 to 10 of our favorite ideas, both long and short, for the next days session. We do NOT have a chat room, nor are we active “tweeters”. We like our business growing by word of mouth. For those who would like to see a full copy of our Monday Game Plan, email me at firstname.lastname@example.org.
In our Wednesday Game Plan we looked at EMES from the short side, with its inclusion inside the weak energy group and the theory of a former high flyer falling from grace. They rarely come back to lead again in the new cycle and can make for good shorts. EMES fit the bill. The stock lost 9% this week although it did find some comfort at the important round 50 handle. We like SLCA better as both are off 65% from their highs but SLCA did manage to eke out a gain this week and seems to have a smoother bottoming formation. We suggested a short below 54 and it is now profitable by 7%.