Tuesday, January 01, 2013

New Year's Day Rock Blog: MCP Rapture?

Happy New Year folks! As we head in to 2013 I'm bullish on a number of stocks, and one of them that seems promising in the near term is MCP. I think the chart below speaks for its self with potential to run to $16-17 over the next few months. Bloomberg recently had a good article about the potential for MCP to be acquired above current prices. Watch for the CCI to turn positive, the bullish pennant/flag to break up (>$9.75), and for MCP to hold above its 50 dma (currently $9.3).  Good luck in 2013 all!!!
Disclosure: I own MCP stock and calls.