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Robert Weinstein
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Follow me on https://twitter.com/#!/RobertWeinstein Let's connect on Linkedin http://www.linkedin.com/pub/robert-weinstein/12/129/651 Contributor to Rocco Pendola's weekly Options Investing newsletter for $29.99/month: http://www.paid2trade.com/pendola-stock-option-newsletter?s=robert Robert... More
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  • Trading results 1/4/11 1 comment
    Jan 4, 2011 4:39 PM

    MCP gapped higher today and the only good thing about it is it opened at the high and was unable to trade above it.

    I traded MCP for much of the day and I ended the day with a small gain in the stock and a small loss in the options. I remain short MCP calls and long only 100 shares which I may liquidate in afterhours as I think MCP retraces tomorrow. I had a few close ones with offers just a few cents above the high of two symbols but nothing was lifted.
    Still long COCO and looking to add to it in my main trading account but I am also currently looking at moving to a new broker so I am holding out to see what happens there.

    MCP + 226
    MCP Jan55c – 624

    - 398

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  • CKachi
    , contributor
    Comments (49) | Send Message
     
    Robert - Agreed with your view on MCP... it's a tempting play, but I think I will sit on the sidelines on it's action.

     

    It'll come down faster than it went up. No earnings or revenue and a ton of hype!

     

    Good insight! Thanks

     

    *GMO serves a similar fate!
    4 Jan 2011, 09:46 PM Reply Like
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