MCP Molycorp: Pop the Bubble

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	David Sachdev
	Washington, DC User since Dec 2009	38
Covers CMG DDD MGM - Go to Blog
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Pop the Bubble

This is a risky trade given how much this stock has already declined but between the IPO lockup e expiring and Jan options expiry, I expect a little more air to seep out of this. This goes along with my feb puts in MCP and REE.

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What People Are Saying...

David Sachdev said at 1/20/11 9:39 AM Price action was $45.05 0.00 (0.0%)

My PUTS in MCP, REE, and AIG really helping my numbers today.

David Sachdev said at 1/20/11 9:46 AM Price action was $45.05 0.00 (0.0%)

BTW, that title...is to be sung to the same tune as Shock the Monkey!

Josh Warner-Burke said at 1/20/11 9:51 AM Price action was $44.28 -0.77 (-1.7%)

David, I believe the song is called *Jacques the Monkey. Everyone knows that.

David Sachdev said at 1/20/11 9:56 AM Price action was $43.41 -1.64 (-3.6%)

http://shockthemonkeytolife.ytmnd.com/

Ian Hall said at 1/20/11 10:32 AM Price action was $44.20 -0.85 (-1.9%)

Hell yeah! Peter Gabriel reference WINS!

Ginger Gal said at 1/20/11 2:44 PM Price action was $45.50 0.45 (+1.0%)

Starting to keep an eye on MCP. It may be a buy when it gets down a bit.

David Sachdev said at 1/20/11 2:58 PM Price action was $45.51 0.46 (+1.0%)

I wouldn't touch MCP prior to next week given that we get options expiration on Friday (well, technically Saturday)

David Sachdev said at 1/21/11 3:37 PM Price action was $43.51 -2.08 (-4.6%)

(from flyonthewall)

Molycorp February call option implied volatility is at 81, March callas are at 74, June is at 66; compared to its 22-week average of 67 according to Track Data, suggesting larger near term price movement.

David Sachdev said at 1/24/11 11:34 AM Price action was $44.23 1.24 (+2.9%)

I see what you did there, you tried to bury the story of insiders selling $500 million in shares, and expanding the float in a story about approving the Phase 2 expansion. Good work.

I think I'll hold short into the 30s and then maybe re-institute my long position after that.

Ginger Gal said at 1/25/11 9:49 AM Price action was $47.49 0.67 (+1.4%)

I missed it in the slide down yesterday. Need to keep an eye for the next drop.

David Sachdev said at 2/8/11 3:10 PM Price action was $54.17 2.86 (+5.6%)

Today will teach me to leave a PT coverage open after I've closed out my real position. Looking for this rise to level out, and then open up a new potential short position.

Going to roll the dice on the PT coverage given the huge rise this afternoon. My guess is that we are going higher before we go down though.

Huge gain on good volume for MCP and REE. Can only assume that we will see follow through both tomorrow and thursday although I'd assume some profit taking in the last 15 minutes of trading today.

David Sachdev said at 1/3/12 2:48 PM Price action was $25.14 1.16 (+4.8%)

Wow...if I had only held onto those PUTS.