MCP P/L

Here's the P/L for the rest of the MCP long position just closed.

With a fill of $6.25 and a cost basis of $4.73, the gain on the second half of MCP comes to +31.73% and we are still VERY low in the overall base, by the time this simply fulfills the measured move it should be a double and likely quite a bit more as the measured move doesn't account for the length of the base.

Apparently it looks like this may have been the right time to wrap it up as it looks to be falling off after the initial burst of retail buying faded and as I said, smart money is not chasing MCP so there's not a lot of support in the area at best, more realistically, MCP was pumped so there was enough demand for smart money to sell in to, but I think for the same reason as us, to accumulate it at lower prices as it should pullback.

I applied ROC to price in blue, I don't know why,  you can see the Rate of Change falling off pretty easily.

Look at the herd, the lemmings all placing their buy orders as soon as they heard the words on CNBC!

Keep an eye on how MCP reacts if it moves below the area where most retail chased this one, they'll likely have stops under the noon-ish lows, but it can be very enlightening to se this action live for yourself and it makes the articles "Understanding the Head Fake Move" come to life.