MCP / IOC

MCP was a long equity (longer term position), I closed half last week and left half to run, I closed that this morning.

IOC was a Call from Friday, it was an obvious mover and may have more to go over a longer period, but the market is really all over the place and I'll show you and tell you what I think is behind it, but for me it made sense to take the gains in both of these now.

At the fill of $7.46 MCP (long equity-no leverage) came to +14.25% which isn't bad for a stock that's not even in stage 2 yet.

This is the IOC chart and why I decided to take the short term gains as it was meant to be a short term position, with IOC up 3.20% and the 1 min chart starting to see profit taking, I decided to close IOC calls,  but I probably would not have if this same kind of chart wasn't seen in a lot of places this morning, not all, but a lot and I'll discuss that in the next market update.

 IOC positive divergence Friday for a move today easily and today's 1 min from confirmation to starting to go negative. It's not a downside reversal in IOC I'm concerned about, it's the loss of momentum in a short term position like this.

At the $8.11 fill, the P/L was a gain of almost 22% for very little exposure or effort.

I'll be back with a market update that may help with individual assets as there seems to be two camps today