I had planned to add EXM as a trade idea before the open today but something came up and I had to run out this morning and have been playing catch-up since returning less than an hour ago. Normally, I wouldn’t post a long entry on a stock that is up 25% but I do think that EXM, any sharp pullbacks notwithstanding, still has the potential for significant gains. In fact, on March 6th, I posted: Besides the miners (mentioned in the previous post) one of the sectors that will soon likely play a potentially powerful game of catch-up (assuming that the broad market continues to move higher over the next few weeks+) is the shipping index. I had added the NM (shipper) long shortly before that and even mentioned EGLE as one of my favorite in that post just a few weeks ago and EGLE is up 68% since then.
Again, these stocks can drop as fast as they rise so I would consider EXM an aggressive trade. If you decide to take it, consider adjusting your position size down to account for the unusually large profit and loss potential on this stock. The initial (and final for now) target and suggested stops are listed on this daily chart.