With a stock like LYC, it's very easy to park the bulls at higher prices. How many times have you heard someone say I wish I could buy more but don't have any money left? So with no bulls left to buy, whose gonna stop the bears? The amateur bulls believe dates / schedules provided by Lynas, Ongkili etc and do their dough on these announcements. Then inevitably the dates come and go and schedules blow out as they have a million times before. Smart money (that includes anyone whose on the right side of the trade really) know this will happen so they short / sell. At some point most of the weak hands above have been shaken out and supply dries up, then they take it up.
LYC Price at posting:
88.5¢ Sentiment: None Disclosure: Held
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