New York
London
Tokyo
My 2 Cents
A Trading Metro Member Blog

Rare Earths Are Still The Rage

The rare earths stocks really became well know and popular in late 2010. This sector looks to have peaked in early May 2011 with the overall stock market indexes. The rare earths have been staging a short term rally on the daily chart since June 16, 2011. This morning, all of the rare earth stocks are trading higher. This recent move higher in this sector is now getting a little long in the tooth, therefore, this sector is likely going to pullback soon.

Molycorp Inc.(NYSE:MCP) is the leading rare earth stock in the stock market. This stock has rallied higher by $14.00 since June 16, 2011. the stock is now trading into its daily chart 50 moving average which is going to be short term resistance. This morning, the stock is trading higher by $3.57 to $60.60 a share. Short term traders should watch for intra-day resistance around the $61.50 area. The stock will have intra-day support around the $58.90 level should it decline throughout the trading session.

Other rare earth stocks that are trading higher this morning include Avalon Rare Metals Inc.(AMEX:AVL), Rare Element Resources Ltd.(AMEX:REE), and China Shen Zhou Mining & Resources(AMEX:SHZ ). Traders should remember that these stocks often do well when the U.S. Dollar Index is weak and trades lower.



Nicholas Santiago
InTheMoneyStocks.com

 

SocialTwist Tell-a-Friend

Leave a Response

Trading Metro
Disclaimer

Before diving into the legalese below, use your common sense when trading. Rely on yourself to define trade execution, don't trade with money you cannot afford to lose, and know the risks of trading. Be responsible, be honest, and use common sense.

Online trading, especially that on margin carries a high level of risk and may not be suitable for all investors. Opinions expressed at Trading Metro are those of the independent authors and do not necessarily represent the opinion of Trading Metro. Trading Metro has not verified the accuracy of any claim or statement made by any independent author. It's your responsibility to ensure the veracity of information presented.

Any solutions, opinions, news, research, analyses, prices or other information contained on this website, by Trading Metro, its employees, partners or contributors, is provided as general market commentary and tools, and does not constitute investment advice. Trading Metro will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Information on Trading Metro is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on Trading Metro is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy and our Privacy Notice.

Feedback Form