[MCP] update

In my first post on Molycorp, I indicated that I modeled it as being very close to a significant bottom.  Importantly, the corporation had just issued a "going concern" advisory which is often the kiss of death for publicly traded companies.  In most cases you just don't expect much life from the shares of a company which issues one of these notices.

Still, the very next day it skyrocketed in percentage terms as you can see from the chart below.  So far, I just see 3 waves up and the count would be most satisfying if it took the red path shown below.  Per CWT, that falling wedge could be a 3rd or a C so it will be interesting to see how this plays out but I have a limit buy in for 28 cents.  If I get it, great, if not great.  Another opportunity comes by every 5 minutes when you know how to count waves.