MCP Update

For us, a lot has happened in a short period of time re: MCP, which by now, you probably know I have my own opinions as to what is going on, but my opinion is about as valuable as a Cramer's (in my estimation which is not to say much about my opinion), however the charts are a different story and that's where this 140% gain in less than a day started.

First, Wednesday, July 9ths MCP Update  and MCP Addendum in which there was some interesting material from Seeking Alpha, but while they came to the conclusion MCP was a sell I got a different read based on my opinion of what is really happening in MCP, MCP is up almost 19% over the last 2 days since Seeking Alpha's sell recommendation which causes me even more  suspicion over the set of articles (I was already suspicious over them before the MCP move, as in who may have paid who to write them).

Then we had some interesting and unusual signals in MCP yesterday, MCP Charts and based on those, Trade Idea (Options): MCP which has MCP currently up nearly 14% on the day with calls up 146% in less than a day.

Here are the charts, I'll of course look for any area in which it seems to make sense to take the calls off the table, at a gain like this in a day I wouldn't hold it against anyone now, but I suspect we may be moving toward something more than just a short squeeze.

Charts...

MCP Daily chart so far today...

 3C intraday is confirming the move higher this morning

And the 3 min chart is confirming as well as leading it.

The unusual MS signals yesterday are still there and strong as well as TSV...

 In fact the TSV signals are growing stronger, 15 min

And here a 3C and TSV 60 min positive divegrence at this most recent move which looks like a massive stop run, just look at the volume/stops hit on this move.

I "may" hold the August expiration calls longer than usual if I see more evidence that this is more than a short squeeze.