URRE, FSLR & MCP Update

Currently I have open positions in FSLR Sept. $38 calls that expire tomorrow, I'll be closing those after this post at a loss, but not too bad.

URRE  have as  along equity position and MCP is a long favorite that I'd like to re-enter.

Here's the update for today, the common thread is that they all look poor on intraday charts, they all have exceptional longer term charts and bases, so I like them a lot, just tactically and especially with options, I need to move in and out.

I don't need more than two charts for each because there's consistiency in the short term charts and the long term so they are good representations. MCP probably looks to be one of the better performers today and I'm sure I'll exit FSLR and probably not at the optimum inttraday position, but with Theta on my heels and more important things to do, the few percent difference it "might" make is unimportant. What is important is even these strong stocks (longs we like), look poor today intraday, so think about the poor stocks or shorts we like looking much the same.

 FSLR 3 min doesn't look horrible, I chose it just because it shows accumulation at a rounding area which is what we want to see, but intraday it's not holding up well so I'll look for a pullback to re-establish a new position there in the coming days/weeks.

 This long term 2 hour chart (with huge signals because of the timeframe ) shows exactly why I'd re-enter FSLR on a pullback, I like all of them a lot for longer term longs and there aren't that many out there with these kinds of charts in the long end.

FSLR 2 min intraday leading negative, why take any more risks with losing more on the calls?

FSLR 60 min positive , this is why I'll be back at lower prices and solid intraday signals.

MCP intraday 3 min, so even the healthy stocks are seeing distribution intraday making yesterday look a lot more like the knee kjerk move we expect to be the highest probability on a F_E_D announcement, this doesn't have any bearing on trade a couple of weeks out, the signals either stay the same, get worse or improve and we move positions, but near term this is what I'm looking at.

Last night I didn't say the 2012 QE3 announcement's knee-kjerk move was going to lead to a primary bear market, just that it's often the wrong initial reaction.

MCP on a powerful daily chart, this stock has a lot more upside in my view, I just want to enter at more reasonable levels on a pullback that is accumulated (confirmation).

I'll be closing Sept. FSLR Calls.