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SharePlanner (< 20)

Long EP at $18.22



May 16, 2011 – Comments (1) | RELATED TICKERS: EP.DL

So far, it appears that commodities are trying to bounce today, and taking with them, the market in sympathy. We are definitely due for a sizable bounce in the short-term, and whether or not it is a dead-cat bounce or legitimate market recovery, it should provide for a nice profit opportunity.

This morning I took a stab at El Paso (EP), as a way to benefit from a market bounce. My entry is at $18.22 with a stop-loss at $17.84.

Here's the Trade Setup for EP.    

1 Comments – Post Your Own

#1) On May 17, 2011 at 3:26 PM, mm5525 (< 20) wrote:

EP is a great company. I have been long since the 16s, and I have traded some back and forth for some trading income since it's cheap and has decent volume, seemingl moving about 30 cents in a day up or down. I am sure you have noticed the 13-F's with all the whales who have increased their stakes in EP... The great thing I like about EP is it is not only an E&P natural gas producer, but also a pipeline company.

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