MCP Moving Closer

If MCP keeps up at this rate, it's going to be difficult to justify not adding to the position...

 This is the 1 min chart so it is doing what I wanted to see it do.

My current thinking is as long as it doesn't move much above $4.70 which it hasn't yet), I'll let it have some more time to keep developing and the probabilities keep rising, however if I had no position in MCP at all and I was interested in it as a long, I'd say that I'd likely add the new 1/2 position now.

Typically we don't see longer term charts move this fast, when they do it tends to indicate larger underlying trade as the timeframe is longer, the possible transactions during that timeframe are much larger (accumulation) which would indicate a stepped up pace from the average rate of accumulation.

 This is the 3 min chart leading positive right at the very area we are looking at, the flat zone after the stops were hit <$4.70.

And the 5 min chart has remained in leading positive position suggesting continued accumulation of the position even as it was making irs way toward hitting the $4.70 stops. The Leading positive most recently would reflect activity at today's flat trading zone where accumulation and distribution take place most often which makes sense, think about how a market maker or specialist are graded on their work of filling a larger order, VWAP is the standard measure, so a stable VWAP in the area the client wants to establish a position is part of their job when filling orders by adjusting the spread and trying to maintain the best prices for their clients. Most technical traders aren't paying any attention to the stock anyway as it is down -3% on the day AND BELOW SUPPORT.