Very strong price action on Molycorp (MCP) today which negated a potentially bearish head and shoulder formation. It is meeting very strong selling above $5.55, but it would be a very bullish sign if it breaks above this level and holds. I am waiting for that confirmation to add to my position with a first target of $7 to close the mid October gap. So far so good.
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.
