25%, then 19% and today 11%. So tommorrow it will probably only go up 6-7%. Missed the boat on this one.
today... not so good so far. I am going to make like a CNBC commentator and call this profit taking. However, there was some news about china maybe easy back on its rare earth export restrictions. Apparently Western countries need a few years to get back into production.
Nice. Although only 128 shares traded at $1.15 that day, so its not like you really made much. Haha. Its so interesting though that I always seem to run into people that bought at the low and sold at the high, so often. Especially on E.T.
Rare Earths had a little hiccup. But the combination of China's cutting quotas again and an article which estimated that it would take the US 15 years or so to become self sufficient has prices zooming again. This move up could be yet another Rare Earth fakeout that reverses back down or it could be the real sustained up move I'm hoping for.
China cutting quotas might be relevant if we were talking about stocks going up by less than 10% per day. But when you see SHZ +68% XING +46% CHGS 25% Lynas +14% REE +14% then you know momentum is the main factor. Especially when the stock that actually has a mine (Molycorp) is only up 6%, and down about 10% from its 52-week high.
sorry for just posting the links, but i think it is important, relevant, and related. http://www.voanews.com/english/news...ver-Chinas-Rare-Earth-Cutbacks-112603384.html http://www.voanews.com/english/news...ent-of--Carrier-Killer-Missile-112629574.html http://ipsnews.net/news.asp?idnews=53977
In regards to the 3rd article, if the West is willing to spend tons of money on research and then send the technologies created to China, then why would China need to spend on research? Why buy the cow when you can get the milk for free?