MCP Update

Last Friday I posted about GOOG and MCP for trades, each a little different, here's the post. And Here's the link to the positions, MCP was a September $6 call. GOOG was up Monday 30+%, but because of the longer term nature of the divergences, I decided to hold GOOG a bit longer, MCP hasn't fired yet, but it really looked good as I was skimming through charts late in the day.

 Like URRE, MCP is a long position that I believe has legs of its own, the market will always exert influence over all stocks, but I think MCP could be one of the few that can buck the market's primary trend, like URRE.

Above the 4 hour chart shows 3C in line with the downtrend which is something I like to see, confirmation, 3C should only diverge when there's something going on, as MCP makes some capitulation like moved, 3C starts to go positive and builds a large 9 month base.

The 1 min chart's trend has tracked price, then went negative and price responded shortly after, now has gone positive, the 16th is last Friday when the position was entered so it has added nothing but base since then.

The 2 min chart just kind of drives the point home as this has been a position I've been patiently waiting to get involved with again.

The 15 min chart is really the magic here, not only did it really start making headway last Thursday, but the length of the leading divergence is well above anything even at much higher prices, I find it to be very impressive and would have entered the trade again today.

It's not often we get a 30 min chart like this either, that's nearly pure accumulation.

If you are in MCP, I'm happy for you, I think you'll do very well. If you're not, I would urge you to take a closer look at the position, although I have a call, this could easily be an equity long, perhaps even a core long position.