Friday, July 19, 2013

MCP

I / We closed at least half (half for me) of the MCP longer term long position  because of the opportunity cost, I still have half the position at a profit, but it should be closed by now.

I may get a second chance as you may if you are still long there and want an out. This is also part of the same theme seen market wide today.

 MCP 3 min makes near term direction pretty clear.

The 15 min going negative is why I chose to take half of the position at a profit off the table.

Long term MCP is still a long position favorite, but it needs to correct first and rebuild before a new long is launched.

As for remaining shares...
The 2 min looks like it may bounce, I'll be setting alerts and closing the rest on an intraday bounce.

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