Well the economic slowdown and more importantly the charts indicate this to me. Classic dead cat bounce recently.
Think of Rare Earths as a message Funds have constantly pushed out and subsequently made money from. Those pumping the story have obviously sold out at the top whilst the rest are left with hope.
Also remember China will slow down, Rare Earths are NOT rare and NOW there are alternatives emerging.
http://www.bloomberg.com/news/2011-09-28/rare-earths-fall-as-toyota-develops-alternatives-commodities.html
Well the economic slowdown and more importantly the charts...
Add LYC (ASX) to my watchlist
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Last
$6.29 |
Change
-0.125(1.95%) |
Mkt cap ! $5.879B | |||
| Open | High | Low | Value | Volume |
| $6.31 | $6.34 | $6.27 | $2.633M | 418.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 29 | 12527 | $6.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.29 | 16197 | 55 |
View Market Depth
| Last trade - 11.24am 10/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |