Yesterday I added to MCP, check out the charts. Today, understandably I'm getting a lot of emails about it, but I think it's fine and if it lifts to $4.87, I'll look at adding some more to it.
The thing about the charts yesterday was not 3C, it looked great and today it has added to the positive divegrence, the thing is price was so linear and flat, stops would be very easy to pick out so a stop-run head fake move would not be surprising. Plus you'll see a few other things.
Until today, you see how defined support was, that's an obvious target for a stop run and a head fake/stop run is something you see right before a reversal, market makers (specialists in this case) load up on inventory as about half the volume (use to before HFTs) be them trading their own accounts.
The daily X-over screen, remember what I said about the first pullback to the 10-day, even though we don't have a mature signal yet, we are at the 10-day, if MCP lifts off this a little today I may add to it.
This is an additional positive divegrence today in to the move down so it's being accumulated like a market maker would, check yesterday's charts and imagine this positive on top of those.
Here's a longer 3 min chat, again, even today it's being accumulated so I'm not concerned at all.
If I didn't have a position here, I'd be VERY tempted to open one here and now.
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