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That was a hell of a turnaround today? High volume too 
LYC - Lynas Rare Earths
- Thread starter nioka
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That was a hell of a turnaround today? High volume too
Its looking pretty good. Enticing enough for me to buy in yesterday shortly after that big turn around.
Lets see how it goes.
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Indeed if it bottoms out around there might be some bargain pickings, I'm certainly paying close attention. Pretty amazing considering it can potentially be close to 50% discount on it's value of very recently.
Does anyone have any news on the sovereign risk? Is everything on track or are they waiting for any sort of approval?
Does anyone have any news on the sovereign risk? Is everything on track or are they waiting for any sort of approval?
Soveriegn risk is fine imo, and extremely marginal.
The key risk for Lynas imo is the commissioning of the lamp, getting the technical aspects of the plant running smoothly are the most important. It is a fairly complicated chemical and industrial process. They need things to be running fairly smoothly from the get go.
Reading some of the people panicking on HC can be quite sickening ... people putting large stakes of there net wealth in to lynas in the $2+ range is scary.
They will only lose if they sell. Those that bought using margin loans wiil have had calls and have paid for an expensive lesson in "Only invest what you can afford to lose". I have no worries holding and using the volatility to trade for a few more freebies. I expect to attend the $4 party sometime next year. DYOR (as BUL and EKA are showing that I'm often wrong.)
skc
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And we landed there perfectly this morning and now a small bounce. Question remains wehther it can hold.
Wouldn't surprise me if there's a trading halt... just a clarifying statement if nothing else.
The cause appears to be Molycorp being downgraded last night. MCP itself fell 18% so LYC pretty much just matching it.
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Yes, also the US has amped up a bit about trade barriers that China is cheating with. The US also sited the rare earths issue.
The US is posturing to make decisive steps against China's destruction of the global economy with it's massive slave labor force, barriers to trade, insistence that companies hand over technology secrets in order to gain access to Chinese markets and blatant manipulation of currencies and rare earths prices etc....................................
Where's Woger?
The US is posturing to make decisive steps against China's destruction of the global economy with it's massive slave labor force, barriers to trade, insistence that companies hand over technology secrets in order to gain access to Chinese markets and blatant manipulation of currencies and rare earths prices etc....................................
Where's Woger?
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Where are you getting this misinformation from?? Who is the primary cause of the last GFC? The USA, Europe or China?
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Holy molly....look at the volume. Exceed $100,000,000. Cannot be just ordinary punters and wild rumours. I wonder what's up??
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Seems a pretty accurate assessment of China's modus operandi to me.
Delay and doubt over Lynas production allows Chinese proxies to acquire shares as cheaply as possible while the Dragon continues to hold sway over world reserves.
Sir Lunchalot
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That was yesterdays status quo, today it seems, GM has cut a deal with China which has cooled things off somewhat as GM claims China did not make demands about 'technology sharing' on this occasion.
Perhaps yesterdays posturing helped get the deal done.
Rare earth prices have come off a bit which is why Molycorp was downgraded.
Perhaps yesterdays posturing helped get the deal done.
Rare earth prices have come off a bit which is why Molycorp was downgraded.
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skc
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Very critical juncture coming up for LYC on the chart... One would expect to see a bounce purely on the technicals, but if the broader market tanks...
BTW has anyone got data on the size of the rare earth market in volume and value? Thanks
BTW has anyone got data on the size of the rare earth market in volume and value? Thanks
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Yeh, in the first hour of trade volume went to 60mill shares and my face was
I thought about buying in around the bottom but didn't have the guts. Clearly something bigger is going on with institutional investors.
It's anyone's guess what happens tomorrow
Yeh, in the first hour of trade volume went to 60mill shares and my face was
I thought about buying in around the bottom but didn't have the guts. Clearly something bigger is going on with institutional investors.
It's anyone's guess what happens tomorrow
The last time there was this much volume in a down move on this stock, was the 1/7/11 the stock proceeded to bounce higher and close on the following day above the level of the opening on the down day.
It looks like a POTENTIAL selling climax to me. The fact that it was initiated by a broker report just makes it stink a little more.
Based upon the previous similar day, which happened less then 3 months ago, im going to take a stab in the dark and predict that history will repeat, and LYC will close above 1.35 tomorrow.
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Been down by another %11.
Here is some more mews on US China issues:
http://www.cnbc.com/id/44619186
Here is some more mews on US China issues:
http://www.cnbc.com/id/44619186
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