MCP Update

Something seems to be going on in MCP again. This is the ONLY long position I'm holding (personally) and I've considered over and over again taking it off to free up room for some trading, but I've had a feeling about it for a while, I think there is something smart money knows and I suspect it has to do with financing which is the key issue for MCP.

The last two options trades (calls) or the only two, have both been successful, the last one opened July 10th and closed July 14th for a triple digit gain, I believe around +120% after having been higher the day before which is why I like to get out before momentum starts to fail.

In any case, here are the updated charts and something seemingly brewing under the surface again.

 The 60 min chart has held up all of this time which is why I think smart money knows and has known something about MCP, the same way it happened in RIMM with the management shakeup, which they knew about months in advance.

"A" was the first call trade under $2.50 with MCP gain nearly 12% the next day and we closed the call the next day, I left the equity long position I filled out the same day in place. "B" was the 7/10 entry and "C" was when that call was closed for the triple digit gain, but the main thing is the 60 min chart having held up all of this time.

 The last week or so had a very defined support range so that being run is no big surprise, the positive divegrence in to it isn't that surprising either, however I don't take trades based on a 1 min chart alone, here's where it gets interesting.

 The 3 min chart's positive at the July 10th call entry and a leading positive in to the recent run below support, interesting, but still not enough.

This 5 min chart's leading positive in the flat range after the stop/support run is getting very interesting.

It has even moved to the 15 min chart which we didn't even see at the July 10th call position so I'm going to keep an eye on this, I suspect if there's a positive moving out to 15 min., then there's likely a stronger divegrence to come, but I'd certainly keep this one on the radar as things are more interesting now than they have been in a while and in a very short period of time.