Molycorp loses momentum

Looks like the bulls are leaving Molycorp (MCP) for now. I don’t have a position and won’t deploy any cash until I see where it finds solid support. It needs to hold above $4.55 to avoid triggering a monster head and shoulders pattern.

MCP Daily Chart

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.
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