MP Systems Corp. (formerly Molycorp) Message Board

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Gold/Mining/Energy : MP Systems Corp. (formerly Molycorp)

MCP 30,550

-6.9%

Nov 5 4:00 PM EST

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To: Zilyunz who wrote (14)	1/25/2013 12:40:36 PM
From: sense	of 111

Hit $5.75 on Nov 16 and that looked like a trade-able bottom... but, the bounce since then has proven it has legs... The weekly chart just crossed over into a reverse pinch, while looking like MACD is going to roll over and head lower again... OBV hasn't confirmed a reversal... and the increasing selling pressure right now on the daily and the weekly is painting red in Acc/Dist instead of green... not a vote of confidence... The daily chart has been a reverse pincher for a while... It's REALLY volatile... you could make a lot of $ fast if you trade it well... or, the opposite... Buy it at $6.75 or $6.85 and it might be a good short term trade... if it holds the prior lows. But, with the bollies pinching hard on the daily.... with the shares trading BELOW the bands ? Hmmm.... It moving a bit higher right now... with an uptick in volume moving Acc/Dist higher... but, my instinct about the chart is that it says it might well break below the prior low in a new move lower... instead of moving higher out of the pinch... which has only "just" begun forming... I'll wait... Looks like too much energy in the trade still, now, for the patterns to be defining an actual set up for a bounce off a bottom. I'd rather be wrong holding cash and watching, than be wrong with my $ in the trade...

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