Trade Idea / New Position: MCP

We have been very patiently waiting on MCP for our chance to take out another long with the last one returning +38% and +58% using leverage of course.

As mentioned earlier, I thought MCP over and will open a partial position (long) in MCP, the risk management will leave room to add to MCP on a head fake/ Stop run move that will allow enough room in the risk management to add to MCP even if we had a stop run below the inrtraday lows of the year at $4.70.

I like MCP a lot and that's why I'm willing to enter a partial position without the head fake move in place. I intend to bring MCP up to a full size position if we get the head fake move, for now it will be half the normal full size core long position, which is about the same as a trading position.