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Molycorp, Inc Common Stock Message Board

  • basicsloth basicsloth Sep 19, 2013 12:42 PM Flag

    Sold Out

    Sold the rest of my MCP @7.135 this morning. My reasoning is this. #1 profits. #2 I believe there will be another significant pull back that will allow me to purchase at a lower price. #3 As we get closer to the idiot cliff, it's my belief the US economy will suffer. Established goods producers will suffer less imho. MCP is not yet top tier and I believe will take a bigger short term hit. Also after reading Seeking Alpha I'm going to watch TRER they just graduated from PK to NASDAQ. Texas has a good business climate and this morning my calculation was 10 k shares for $2800. Hmmmm. Right or wrong, it never hurts to take a profit.

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    • Good thoughtful post. Thank you.

      I am still long and the future is always doubtful.

      I worry more about what future metals prices will be and one can only speculate on that. However, if, as you predict, the US economy goes into the #$%$, then the market and everything connected to it will do likewize. I would have thot this would have happened long ago except that... it didn't and I wondered why. The only thing I can see is that other than the US Federal Reserve and the US dollar, there -is- no other place to put all those (reported) riches and that's where all (or most of) the money is going.

      At this point, I would still rather hold REE stock than dollars but I could be wrong.

      Sentiment: Buy

    • Agree with #1 and #3. #2 is a stretch at this point with no QE scale back+equity specific positive news on the horizon.

      Sentiment: Buy

    • a smart move!

 
MCP
0.35870.0000(0.00%)Aug 6 3:56 PMEDT