The stock mentioned in this blog posting was a stock trading on the NYSE named MOLYCORP, symbol MCP. Since that posting, MOLYCORP has moved up over 8 dollars in very active trading. In fact, the stock was up over 9% yesterday and up over 18% since we mentioned it to five days ago.
Take a quick look at the chart below and you can compare what we said back on the 27th right here.
I also mentioned that I own this stock personally and I want to be absolutely upfront with everyone on that fact. The market still looks very positive and we are waiting now for our weekly "Trade Triangles" to kick in. If and when that happens, I will be adding to my position.
It looks to me that we can see MOLYCORP trading in the high $60s or low $70s by the end of March.
Always remember there are risks involved in any investment and this is no different. I am moving my stops on MOLYCORP up to $44.45cents to protect capital.
President of INO.com Co-founder of MarketClub