Thursday, December 20, 2012

MCP Charts

Again this looks like more of a quick trade than a longer term sustainable one at this point, but these quick pops can be pretty large, you just have to know when to get out and not get greedy if you get the move.

Here are the charts...
 Daily w/ a 50 day m.a., I don't care much about the 50 m.a. , but other traders will, it also shows the change in character which is something I'm more interested in.

 Here's the range getting very tight after a pullback with declining volume, this is what technical traders will be looking for, this is another reason to be aware of a head fake move or this perhaps being set up as a quick pop and dump.

 The 1 min chart since the negative divergence at the top has seen a positive divergence through this tightening range.

 Same out to the 5 min chart

And to some degree, at least improvement in the 15 min. chart.

This isn't my cup of tea, but some of you like these kinds of quick, fast movers which this looks like it could be.

I would consider keeping the trade size at a speculative level.


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