(This is an excerpt from an article I originally published on Seeking Alpha on February 7, 2012. Click here to read the entire piece.)
Many rare earth element stocks have taken on new life in 2012 as investors and traders have scrambled to speculate on some of 2011’s poor-performing stocks. The current run-up has been remarkably well-correlated (inversely) to 2011’s performance. {snip}
I have used 2012’s rally to unload most of my latest round of holdings in REE stocks. {snip}
The rallies in most of these rare earth stocks have now stalled and taken a pause. The charts below show how most of them have stopped cold at key technical resistance. If they overcome, the rallies could persist even longer until the next wave of fear over the global economy sends these stocks hurtling downward again.
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Be careful out there!
(This is an excerpt from an article I originally published on Seeking Alpha on February 7, 2012. Click here to read the entire piece.)
Full disclosure: long MCP and UURAF.PK