Thursday, May 2, 2013

MCP is waking up??

All the eyes are focused elsewhere but I think there is the makings of a bottom in Molycorp.

Just based on technical/chart factors.

A new low was made recently and the volume was unusually low. To me this means that there is no urgency to sell.

Lately I see bursts of upside volume intraday.

Looks like MCP reports in a couple weeks. It will be interesting to see how it acts BEFORE the report date. I have noticed in the past how stocks often telegraph the results before the public knows....

Somebody knows. OR the public and traders are just speculating. In this case the volume is down, so I would presume the traders have abandoned the chase, and that leaves only insiders..... Maybe.

Here is the technical case:
As usual, cut losses short.
Buy on the way up.
And you make your own decisions.


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