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Molycorp (MCP) soared 16% on the day on no news, but the move may have been driven by a...

Molycorp (MCP) soared 16% on the day on no news, but the move may have been driven by a technical breakout. Shares broke out from their 50-day MA at $6.09 on heavy volume and kept climbing; MCP has surged 24% this week.
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Comments (8)
  • Jason Burack
    , contributor
    Comments (1834) | Send Message
     
    Short covering rally. Short squeeze plus maybe a short (or a potential long?) went and visited Mountain Pass (site visit) and was happy with the improved progress the new management is making at lowering production costs and ramping up Phase 1 production capacity?
    10 Jul 2013, 05:01 PM Reply Like
  • iBot Vested
    , contributor
    Comments (74) | Send Message
     
    Bought calls yesterday. Doubled up and bounced out.
    10 Jul 2013, 05:06 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (5909) | Send Message
     
    Until it announces a profit, (MCP) should stay below or around $10.
    10 Jul 2013, 05:13 PM Reply Like
  • Hoff_80
    , contributor
    Comments (43) | Send Message
     
    All REE's jumped massively today - so it's not just MCP.

     

    Must be something brewing in China.
    10 Jul 2013, 05:33 PM Reply Like
  • joelkatz
    , contributor
    Comments (539) | Send Message
     
    Ye, The Chinese government has shut down unlicensed mines in China's Ganzhau.
    10 Jul 2013, 07:57 PM Reply Like
  • vagabondo
    , contributor
    Comments (10) | Send Message
     
    All things are in favor of MCP at this point. The *company* is new (the stock is old), The manaagement came from Neo Materials and is competent (old MCP wasn't). Chairman of Board has put his own *cash* into the new MCP ($90 million) to insure success and no BK. SEC has dropped charges of old accounting irregularities entirely. Finally, the shorts have not (yet) caught on to the fact they've shorted a low-priced stock with no threat of BK and are stuck with a *huge* position.

     

    All in all, a situation made in heaven for longs. IMHO, of course.
    10 Jul 2013, 05:40 PM Reply Like
  • ggarcia51
    , contributor
    Comments (8) | Send Message
     
    i dot know this company have lot debt and cost i think that is corp is
    this corporation is in real trouble as has the rate of expenses according to your income and investments that are very committed to the new mine mountain pass that fails arrancar.Es to remember that the prices of the products they sell have a projection to stabilize or lower
    10 Jul 2013, 05:40 PM Reply Like
  • Hoff_80
    , contributor
    Comments (43) | Send Message
     
    GG - have to remember once the plant is fully operational at Mountain Pass - MCP become the worlds LOWEST cost producer of REE's - approx $6/$7 where they're able to sell at $20's. CURRENTLY yes you're correct - their cost is about what they sell at market - but that's an interim position only.

     

    MCP wouldn't be able to raise the sort of $ it has in the recent past if its plan was to sell at or below the cost it takes to actually produce it.
    10 Jul 2013, 06:18 PM Reply Like
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