MCP Update

MCP's price has been moving a lot recently on Seeking Alpha Articles, but this one is of particular interest and may explain why MCP's longer term charts have stayed intact, much like RIMM's when it was in similar position, we simply didn't know why until the massive management shake-up and letting go of the dual CEO's took place, someone knew about it just as someone seems to know something about MCP as we find out today.

The key will remain in the charts. Here's the article which has some interesting insights that could have a profound effect on MCP...

Apollo Hedge Fund Backdoor Takeover of MolyCorp.

As for price and whether I "might" take out calls, it just leveled off and is starting to move laterally, think about the markets yesterday, that's where we saw accumulation so if we are to see it, it will be soon as price has started to flatten out. If it is exceptionally strong as it was on the move below $2.50 on 6/3, then calls may be just the ticket. Volume also looks like an intraday if not longer, capitulation event.