As I said in yesterday's "Rare Earths: Molycorp Registers Some Stock (and why did Morgan Stanley pick up 8,439,008 shares?) MCP":
...The 200 day at $51.39 didn't provide any support on the way down and shouldn't have much influence on the way up. The overarching concern is the general market, currently up 2.21% on the S&P, at 1144.15.Considering that the stock was up 10% on Monday this is impressive.
The company reports earnings on Thursday....
Sometimes you get lucky