I entered a position on Molycorp (MCP) at $5.16. It paid off to patiently wait for price to come down after the huge run it had at the beginning of the year. I am setting a stop just below $5 with a target of $7.50. I adjusted the position size to compensate for the relatively wide stop, but the Reward / Risk is still very good (13:1) I always use the StockTradeCalc to manage risk.
MCP Daily Chart
About Stock Trade Journal
The information in this blog is not investment advice. Please consult a financial advisor before investing. I have been trading stock since the 1990's and survived the .com crash. I am developing software applications to help me trade better and now I am making them available to help other traders.
This blog is also a way to share my experiences and observations in the market.
