Two New Trades to Report: MCP & ALXA
I must have volatility running through my veins today because I just took on two historically very volatile charts and entered into long positions on them both. I jumped in Molycorp (MCP) at $12.48 and then shortly thereafter I got into Alexza Pharmaceuticals (ALXA) at $4.83 - but not to be confused with ALXN which I am also long in from $102.
Both of these trades are not ones you want to stay with for days on end, because there is a time factor risk associated with each - in that they both tend to react hard to news pieces both positive and negative. So the longer that you are in one of these trades, the more likely you will be impacted by such a news event. As a result, my target time frame for holding these stocks is 1-3 days.
Here are the setups for the two trades I've made:
LONG: Molycorp (MCP)
LONG: Alexza Pharmaceuticals (ALXA)