This morning, there are two upgrades on Molycorp (MCP) including one from JP Morgan (JPM). Morgan was the underwriter of the secondary and the upgrade was expected. Nonetheless, we will cover  our short position right here around $46.20 and look for opportunities to short at higher prices starting around $47.50 in a manner described in the prior post.

As a caution, we wll not short this stock again until all six screens of the ZYX Change Method are satisfied.

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