about time for MCP - ha ha, probably a take over candidate by
the Chinese to keep their monopoly LOL
yep MCP has been such a dog, nice to see it finally bounce - the
daily chart formed a divergent low in Nov and it has shaped up
quite a bit - the consolidation in Dec looked like a wave 2 or B
pattern - so it looks like it should have either a wave C or 3 up
looks higher to me.
just be warned, it's a volatile sucker, moves of 10% per day are
common, so you have to have a strong stomach or keep position size
smaller than you do with other stocks that you trade
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Molycorp Rises / Bloomberg: company could be takeover target
Posted by rixx on 2nd of Jan 2013 at 10:17 am
about time for MCP -
Posted by matt on 2nd of Jan 2013 at 10:22 am
about time for MCP - ha ha, probably a take over candidate by the Chinese to keep their monopoly LOL
yep MCP has been such a dog, nice to see it finally bounce - the daily chart formed a divergent low in Nov and it has shaped up quite a bit - the consolidation in Dec looked like a wave 2 or B pattern - so it looks like it should have either a wave C or 3 up looks higher to me.
just be warned, it's a volatile sucker, moves of 10% per day are common, so you have to have a strong stomach or keep position size smaller than you do with other stocks that you trade