Long EP at $18.22
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.