ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
In mid-May, I warily eyed copper as it looked ready to lead the correction in commodity prices into a complete breakdown (see “Silver Fails Resistance; All Eyes on Copper’s Support“). However, over the past six weeks, copper prices have held firm by clinging to the 200-day moving average (DMA) line of support. Source: Stockcharts.com This … Read more
Copper Sector Set to Shine on Growing Demand – TheStreet Even though copper is down from its all-time high of $4.62 a pound, analyst reports continue to project that robust demand from China will help boost prices toward the end of 2011. On the supply side, analysts say that copper is in the midst of … Read more
(This is an excerpt from an article I originally published on Seeking Alpha. Click here to read the entire piece.) Last week, an article from China Daily titled “Rare-earth supplies expected to grow” was blamed for the weakness in several rare earth stocks like Molycorp and Lynas Corp. Ltd on June 16th. The article contains … Read more
The recent trading action in Molycorp (MCP) has deeply disappointed MCP bulls. The stock has gone from a bullish technical setup to today’s oversold conditions in the space of two weeks. Inserted into this sell-off was MCP’s move to get a stock offering and convertible deal done. The announcement created a tremendous overhang on the … Read more
(This is an excerpt from an article I originally published on Seeking Alpha. Click here to read the entire piece.) It only took two days for Molycorp (MCP) to officially roll out the pricing of its secondary share offering and convertible notes. MCP indicated these deals were “subject to market conditions”, and market conditions may … Read more