Up 11% today, most likely due to the article in WSJ today which
has made more people aware of the situation we are getting in to.
If anyone has missed it, China has put restrictions on exports of
Rare Earth Minerals and if I recall right from WSJ, China controls
97% of the world's rare earth resources. Outside China there is an
Australian company also producing this (name?) and an American
company Molycorp (MCP). Since the restrictions were put in the
place MCP has more than doubled the stock price. Apparently today,
some felt that there is still room for further increase. Be warned
though that this bubble can burst quickly if China decides to
change the policy. Until then I ride along a few more days.
Maybe too many have been focused on Gold lately? Now the press
needs to find something new to write about. WSJ pointed out
yesterday that this is a big concern for Japan who as always is
depending on imports, that reward another 10% to the previous (at
least 100%).
I'll continue following this with a stop-loss in place.
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MCP
Posted by etcbari on 18th of Oct 2010 at 01:14 pm
Up 11% today, most likely due to the article in WSJ today which has made more people aware of the situation we are getting in to. If anyone has missed it, China has put restrictions on exports of Rare Earth Minerals and if I recall right from WSJ, China controls 97% of the world's rare earth resources. Outside China there is an Australian company also producing this (name?) and an American company Molycorp (MCP). Since the restrictions were put in the place MCP has more than doubled the stock price. Apparently today, some felt that there is still room for further increase. Be warned though that this bubble can burst quickly if China decides to change the policy. Until then I ride along a few more days.
guess the boys want a
Posted by freddy123321 on 18th of Oct 2010 at 01:33 pm
guess the boys want a nice pop to unload. Rare earths is old news and now it is front page news?
Most have gone up 1000% past year
Love it!
Maybe too many have been
Posted by etcbari on 18th of Oct 2010 at 11:52 pm
Maybe too many have been focused on Gold lately? Now the press needs to find something new to write about. WSJ pointed out yesterday that this is a big concern for Japan who as always is depending on imports, that reward another 10% to the previous (at least 100%).
I'll continue following this with a stop-loss in place.