Tuesday, August 7, 2012

MCP Follow Up

I closed the equity long in MCP for a 1 day 7% gain, if I had a larger position I probably would have phased out of the position, but it was on a spec basis.

I still think MCP looks pretty amazing, it just doesn't look "yesterday" amazing.

 MCP 2 min looks great yesterday, it's getting sloppier today

 Intraday it's even put in a negative divergence. I'd rather look at MCP at lower prices to start a new position than sit through a pullback.

 The 5 min is close to a negative divergence.

5 min trend yesterday was very clean, today it's getting a bit sloppy.

Still, a 7% gain for 1 day with no leverage isn't bad.

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