Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
2 million volume already and getting pushed down!
A lot of profit taking here this morning!
We're at 2.28 with 8.4 K shares traded in early trading, and pre-market isn't even officially open yet.
Sounds pretty good to me! They were at .081 yesterday, so they're definitely up today.
If we get big news, it's going to go higher than 3 bucks easily! It has to bust through the 50MA, then we can really move!
You're welcome!
I'm very glad I stuck with it this morning and waited for a pullback to get in. I almost let it go when it ran so hard. I thought for sure it would run like it did last time.
Tomorrow it will run!!
LOL! I didn't even have time to look at the chart yet. Started catching up here on the board. Still not caught up yet.
Looking at the JP Morgon buy, now THAT'S spectacular!
Thanks logic_guy. I got up and saw that the finish and the AH trading wasn't that spectacular, but not that bad either. Next time I look, it's moving big in AH
We'll be opening tomorrow way above today's close!
I sold most of my shares this morning. I was going to hold on to some, but decided to get out with a minimal loss and get back in later when and if the risk is minimized!
Unfortunately, default news always seems to come pre-market, and there's no time to get out without a bad loss.
Thanks! Love to stay and watch, but......
Right! Except I work 3rd shift and have to grab a few hours of sleep. All seems safe. But then again, I keep my phone next to me. :)
Yep, I missed the first run and didn't want to chase. Been keeping a close eye on it since.
I've bought 3 times now this morning and am ready to ride it up!
Volume is picking up again now. All the right ingredients here. Just add some awesome news!
Buying more here! Guess I should have been more patient the first time.
I missed it this morning at 2.13. I almost let it go, but decided to catch the dip and jumped in at 2.28.
Looks mighty strong!
Grim is definitely a good word for this situation.
Even if they declare bankruptcy today, they'll get booted to the OTC and have a Q added to the ticker symbol. They would still trade for months until Molycorp comes out of bankruptcy. Then the common shares get wiped out!
Although they would still be damn near worthless once they get booted to the OTC!
Keep in mind that the US government didn't abandon General Motors either, but let them going into Chapter 11 bankruptcy to restructure. All common shares were wiped out, but GM was still allowed to do business.
That's my only concern. But then, you'll have warning before Chapter 11 is declared. Plus it will trade on the OTC with a Q added to it. The shares don't get wiped out until they come out of bankruptcy. But then I'm sure you already know all of this.
I just don't want to find myself taking a bigger loss than necessary. I just might ride some shares though, because at this point, I think there still is a chance they will do a debt for equity deal with lenders.
That's the scary part. The longer they let this bleeding go on without giving the investors some information that would give some sort of confidence, the more concerned I become.
My position here isn't large, but I'm seriously considering selling more off. If not all of it!
That's why I tend to watch the 5 minute. You see bad news quicker, but then you get whipsawed more often too. I believe I'll start watching both on regular basis.
The lower indicators you mentioned don't look nearly as bullish right now on the 5 minute.
It seems to keep bouncing around the .43 level. Although it keeps dropping below there. Hopefully it closes above .43.
Sure would be nice to see some encouraging news very soon.
Thanks for the TA. I jumped in this morning @2.26 when my screener picked it up.
I was just considering selling at 2.40, but I believe I'll keep watching now. Do you prefer the 15 intraday time to 5 minutes? On the 5 minute, (which I usually watch), the candles ar just riding the middle bollinger.
It's hard to believe the SEC hasn't shut down Seeking Alpha long ago. There's so much evidence that they're manipulating stocks.
I suppose there's freedom of press but as they say here: "Our guess is that this means that the company is preparing to file for bankruptcy protection." Not even fact......just a guess!
I can see it closing at or around .50, but without some good news to give investors their confidence back, I don't see it closing green.
http://finance.yahoo.com/news/molycorp-elects-advantage-30-day-130000728.html
Molycorp Elects to Take Advantage of 30-Day Grace Period on $32.5 Million Semi-Annual Interest Payment on Its 10% Senior Notes Due 2020
GREENWOOD VILLAGE, Colo., June 1, 2015 (GLOBE NEWSWIRE) -- Molycorp, Inc. (MCP) (the "Company") announced today that it has elected to take advantage of the 30-day grace period with respect to the $32.5 million semi-annual interest payment due June 1, 2015 on its 10% Senior Secured Notes due 2020, as provided for in the indenture governing the notes. This election by the Company will not trigger any cross-default provisions in other outstanding Company debt prior to the end of the grace period and should not affect current operations. As previously disclosed, the Company has retained financial and legal advisors to assist the Company to restructure its debt. The Company will use the grace period to continue to evaluate different options related to such debt restructuring.
I see that the Wall Street Journal has already made a correction to their story. Although they just say it's reported wrong, but don't give the the correct numbers.
Correction to Molycorp Rare-Earths Bubble Article
10:51 pm ET May 31, 2015 (Dow Jones) Print
The U.S. Defense Department only buys between 5% and 8% of all the rare earths consumed in the U.S. "Molycorp Struggles to Survive Rare-Earths Bubble," published at 6:19 p.m. EDT, incorrectly said in the 16th paragraph that the Defense Department only buys between 5% and 8% of Molycorp's production.
Subscribe to WSJ: online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
May 31, 2015 22:51 ET (02:51 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
There is always the possibility that MCP is skipping the payment because there is a loan restructuring deal in the works. I know...chances are probably slim, but still a possibility. They have made the comment that they do not want to be delisted from the NYSE.
Is anyone able to copy and paste the full article?
This doesn't sound good!
That's why I've become more of a day trader to very short term trader. Take a profit and move on.
And then on the other hand, it's hard not to keep a long term position when you find a company like this.
I couldn't believe someone would dump over 1 million shares at the end of the day like that. Still seems a little fishy. But then again, for every seller, there's a buyer.
Not a daft question at all. It's certainly not something that's common knowledge.
I've heard the term a couple of times, but my level 2 on Ameritrade only shows red and green. That's when the MM's quote goes up or down. If it doesn't move, it's black.
That's my understanding.
Thanks! That's why I sold below $1.70. I really thought it would run back up again, and I didn't want to hold over the weekend.
In and out! I sold at 1.65 mid day.
That 1.25 mil sure got bought up quickly though. It's already bounced back to .55 in AH.
I'm holding tight to my position, and working some other funds to build more cash. When it makes a nice move, I'll load up more on MCP!
KABOOOOM!
Jumped in this morning pre-market at $1.30. My screener picked it up, and I saw news just came out.
This looks like a runner!
Also a buyer at these prices. I will be buying more tomorrow too! Unless news comes out, the chart screams another down day tomorrow.
Just as you said that, a little buying pressure came back in and moved it back up a bit.
This back and forth will probably go on all day if there is no catalyst put in place.
I suppose the shorts will work it over. I'm betting their time is almost up!
Yea, something is up. Pretty decent volume already in the first half hour.
I see on the daily chart, the 50MA is support, and the 100MA is acting as resistance. Just need that news to blow this thing up!