Rare Earth Stocks Bust Out

By Quint Tatro  MAR 30, 2012 9:25 AM

Molycorp led the charge yesterday advancing almost 10% with more to come.

 


The general market is weakening as noted by the Dow which has started to soften up the first level of support in the 13,055 level. A break here that is sustained brings into play the two other levels we’ve been watching and would give more fuel to the bears for a move lower.

While the general market waffles a bit, it isn’t slowing down the momentum under the surface as noted by the rare earth stocks we’ve been watching the last week. Molycorp (MCP) took center stage yesterday, and while the stock hit initial profit targets, I took the opportunity to reallocate some capital into Avalon (AVL) which hasn’t yet started to run. This and more in today’s video.

Unable to display content. Adobe Flash is required.
Positions in AVL, MCP

The information on this website solely refle= cts the analysis of or opinion about the performance of securities and fina= ncial markets by the writers whose articles appear on the site. The views e= xpressed by the writers are not necessarily the views of Minyanville Media,= Inc. or members of its management. Nothing contained on the website is int= ended to constitute a recommendation or advice addressed to an individual i= nvestor or category of investors to purchase, sell or hold any security, or= to take any action with respect to the prospective movement of the securit= ies markets or to solicit the purchase or sale of any security. Any investm= ent decisions must be made by the reader either individually or in consulta= tion with his or her investment professional. Minyanville writers and staff= may trade or hold positions in securities that are discussed in articles a= ppearing on the website. Writers of articles are required to disclose wheth= er they have a position in any stock or fund discussed in an article, but a= re not permitted to disclose the size or direction of the position. Nothing= on this website is intended to solicit business of any kind for a writer&#= 39;s business or fund. Minyanville management and staff as well as contribu= ting writers will not respond to emails or other communications requesting = investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
<= /p>