Molycorp Ready for Its Next Major Move – But It’s Probably Not What You Think

Molycorp (MCP – NYSE)

Wednesday, August 07, 2013

Molycorp (MCP – NYSE) reports tomorrow, which gives us a good excuse to look at one of our favorite cult stocks.

The last time we reported on MCP, it was at the bottom of its 2013 trading range, so we advised that you grab a piece of the upside action, but bail out as soon as you have satisfactory gains in pocket. Readers reported as much as 50% gains on that move.

Here’s the thing about MCP’s rare earth niche. The Chinese sat on supplies for ages, quadrupling prices for same.

But now that Americans are finally back in the business, the Chinese see no reason to boost their profits.

So now, the Chinese are pumping rare earth oxides into the market — some suspect with the intent of bankrupting American efforts.

What does this mean for MCP? Let’s just say that it’s a tough arena to fight in when your opponent is one of the world’s largest command economies.

MCP 080713

Bottarelli Research Tip: MCP has dived from $8 to $5 twice already in 2013, and is already rolling over again. It’s a damn good bet that it will try for $5 again over the next six weeks. However, this IS a cult stock, which means it’s subject to weird twists along the way. So once again, we recommend taking gains as soon as you see them.

Major Earnings Today in GMCR and TSLA

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