MCP 60 min Oct 8th
The MCP (Molycorp Inc) trade has now hit the 2nd target for a quick 16% gain. Consider booking partial or full profits and/or raising your stops if holding out for any of the additional targets. Although the price action on MCP has been very bullish since the breakout, I have yet to see the other rare earth stocks that I follow acting bullish. In fact, MCP is the only stock in my rare earths watchlist even trading positive today and therefore, I am more concerned with protecting gains by tightening up stops and may change the final target to this trade to T3 (1.70) & might possibly close the trade before then unless the other rare earths start to catch a bid very soon.