ERS

[njshiva]

 

[njshiva]

looks like a trend reversal to me 

[njshiva]

trend reverse. volume stable 

[njshiva]

Reversal it is .. 

[njshiva]

results annouced stock going south.

Empire Resources Announces Third Quarter Operating Results
Monday November 13, 4:26 pm ET

FORT LEE, N.J., Nov. 13 /PRNewswire-FirstCall/ -- Empire Resources, Inc. (Amex: ERS - News), a distributor of value added, semi-finished aluminum products, today announced net income for the three and nine months ended September 30, 2006 of $1,968,000 and $7,061,000 as compared to $2,388,000 and $7,134,000 for the same periods in 2005. Net income for the three and nine months ended September 30, 2006 decreased to $.20 and $.70 per share on a fully diluted basis as compared to $.24 and $.72 per share on a fully diluted basis for the same periods in 2005.

Net sales for the three and nine months were $106,261,000 and $316,168,000 as compared to $90,777,000 and $260,237,000 for the same periods in 2005. Net sales increased 17% for the three month period and 21% for the nine month period as compared to the prior year.

Empire Resources, Inc., is a distributor of a wide range of semi-finished aluminum products to customers in the transportation, automotive, housing, appliance and packaging industries in the U.S., Canada, Australia, New Zealand and Europe. It maintains supply contracts with aluminum mills in various parts of the world.

This press release contains forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks include, but are not limited to, the ability of the company to grow internally or by acquisition and to integrate acquired businesses, not being able to improve operating margins and efficiencies, changing industry and competitive conditions, and other risks referred to in the Company's registration statements and periodic reports filed with the Securities and Exchange Commission.

[raspi]

..and I shorted it 5 minutes after the results were released  . My first short and I am loving it 

[njshiva]

NICE !! Good luck  with your trade rspisek!!

[ScottishTrader]

I'm playing ERS for a bounce here, based on my CCI crossover strategy.  CCI has just moved up from below -100, and ERS got a bounce off a supportive trendline from recent lows.  I think this one could be good for a quick run to $12.30 gap resistance.  Secondary target, bottom of the gap at 11.52. Needs to break through resistance at $10.93 and the 50SMA.  Support at 10.45, 10.25 and 9.95.  I got filled this morning at 10.66, putting a stop in for 10.22.  risk on the trade: just over 4%, reward: just over 15%.  Lets hope it goes well...

By the way, have a look at the 1 year chart on ERS if you want to get the full picture - could be voted most ridiculous stock of the year!!!

[ScottishTrader]

ERS rallied this week, but encountered some resistance around the 11-11.15 level, which also coincides with the 50MA.  There is still an open gap between 10.26 and 10.50 that has not been filled, and it could pullback to this level.  It could also come back down to test the ascending trendline which I put at around 9.80 as of friday's close.  I am still looking for it to rebound to fill the open gap above, with a target around $12.30, but it may not be ready to do that just yet.  Will see what next weeks action brings, but for now I am maintaining my stop at 10.22.

[ScottishTrader]

Well the gap got filled this morning and my stop got tagged too - it is now moving higher, but there you go.  (aussie's question about all my stop losses getting hit seems to be coming true....)  Sold @ 10.24: loss on trade: 4.03%

[setravis]

ERS Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders.   
All history on a stock pick in 1 thread is awesome.   

Thank You....and good luck with all your trades....make some $$$

[bjc]

Bought ERS at 11.86.  Seems like its ready to rock to me.  This stock likes to move fast, hope it moves my direction

[ScottishTrader]

hey bjc,

I picked up some ers at 11.86 today too... strange coincidence huh?  Man it annoys me when stocks do this (i.e. I call them right then they tank and shake me out, only to do a quickfast reversal!)  But ERS was looking very strong today.  The small W-bottom has a conservative-leg target of (11.19-10.06= 1.13+11.19) 12.32. It will be interesting to see if it can break above gap resistance at 12.30 tomorrow.  If it does, it could well have a run in it here. 

[bjc]

I think as long as the metal sector does okay, ERS will do okay. 

[onlyfacts]

Nice call!!  Very strong bounce off of support right @ 11.64.  This thing really moves with such a low float.  Added more today @11.70, looking for $14 - $16.  Nice call