The chart is giving great trading ranges. I am also short REE in sympathy, as the Rare Earth ETF's will distribute as MCP fails.
Stock Market Commentary by full-time trader and best selling author Bob Kudla AKA "BobLovesHawaii"
Showing posts with label Rare earths. Show all posts
Showing posts with label Rare earths. Show all posts
Friday, January 21, 2011
MolyCorp Performing as Expected
Next week MCP has insider lock up ending. Their current public float to total share is only 25%. This is not bullish. couple this with weakening metal pricing, and sell danger zone for stocks, I am expecting new lows.
The chart is giving great trading ranges. I am also short REE in sympathy, as the Rare Earth ETF's will distribute as MCP fails.
The chart is giving great trading ranges. I am also short REE in sympathy, as the Rare Earth ETF's will distribute as MCP fails.
Friday, December 3, 2010
Shorting MCP and REE
As I posted a month ago on rare earth companies being in a bubble are now playing out. MCP has just broke the 50 and REE is hovering over it, with both sporting very weak relative strength and accumulation. These stocks have a long way to fall and I will participate in this decline.
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