Stock Watch 3.30.11 ” REEbirth of Rare Earth”
Eventually you knew that the tensions in Libya and the Japanese crisis would lead to some Wall Street insiders claiming that minerals are now in a shortage. That’s just how these shysters make their jet payments. By creating fear an panic. Oil had it’s turn, Uranium had it’s turn and now rare earths get a shot. Same cycle every few months. I won’t fight the momo because I’m a really small fish in a enormously large pond. I’ll just ride the waves. Keep an eye on all the players in rare earth . MCP REE SHZ CHGS XING. One of these will probably use this bounce to dilute their shares.
APPY Strong volume and price bounce from the .57c consolidation area. I think the momentum spills into Wednesdays early session and at least tries a $1 run. We’ll see what the action is tomorrow. Possible short as well if it fails to take out $1 ALLT
Nice chart with bottom bounce potential. See if there is a day 2.
SOL
Broke out from 9.75 which was month long resistance. Potential gap fill towards $11. May no do it all in one day but should at least attempt it by Friday. Good swing set up with a stop below 8.75
VHC
My instincts tell me to short this because the chart is overextended but it’s been overextended $3 ago. This thing is pointed at the sky and on a 7 day run. I will stay nutral and may even nibble at some buys if the tape is strong. Ultimately a short set up will emerge after it trades through $20
HBIO
Same as VHC but this is on a 12 day run. Volume has usually been coming in around 50k but Tuesday it was 500k. Again the instinct is to short but there is squeeze tax that early over aggressive shorts have to pay. Keep on tight watch
