PPR - MCP Scores a Pocket Pivot Buy Point at the 50-dma Right at the Close.
| Published: | 21 Jul 2011 20:03 ET |
Molycorp, Inc. (MCP) MCP just cleared a pocket pivot through the 50-day moving average as volume shot up in the last few minutes of the day. Wild stuff! We bought a small position right above 55 at around 20 minutes before the close, and much to our surprise the stock began moving very sharply in the last 15-20 minutes of the day on volume that sent it to a clear pocket pivot buy point on the day.
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