xiaoluo - I believe we were just buried under another big layer of supply at $1 today. Could also be another lower high in a series of lower highs and lower lows.
Also, looking at the futures and the action on the overseas markets, it seems the whole Greece election outcome was a giant sell the news event.
In addition to that, I think the market is now acutely alive to the game the Malaysian government is playing, which is one of delay intermittently interspersed by feel good, yet ultimately impotent announcements which simply serve to lock in retail investors at higher prices and give the big shorters a chance to reload at higher prices.
Furthermore, we have a company who is unwilling to communicate with shareholders, presumably because the Malaysian government has them over a barrel (I hope that's all it is), and the MOSTI who is in no hurry to do anything really when it comes to Lynas and I find it quite amazing that Lynas are still waiting on an official letter from him to let them know the residents' appeal was rejected.
Whole things smacks of corruption, and I'll be very surprised to see a timely response to Lynas' submission re the two conditions on the TOL. Probably need another committee to think about their submission for next couple months.
If we don't get any real news in the next day or so, I'll be surprised if we don't bust through that 86c support.
LYC Price at posting:
93.5¢ Sentiment: None Disclosure: Held
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