renew fib retracement, page-12

nana, you said: "I think all stocks will come down more."

Last Wednesday the All Ordinaries index put in a LOW. On that day there were 14 stocks with 52-week New Highs. Yep! Fourteen. Not just UP days. They were annual highs. That happened on planet Earth which is currently experiencing global finance issues.

Put a 50-day MA on the XJO. You see it is headed down. That's bearish. Put a 50MA on LYC, it's pointed up. That's BULLISH. Same with NTU. It's UP.

Take a look at the Dines Letter ...the guy who called the beginning of the REE bull market. His latest issue dated last Friday has a Rare Earths Index chart on page 3. It's bullish. Headed north-east. JD says it is in "Major Uptrend #3".

I looked at the LYC website today. The average Mt.Weld Composition price was $62 in Q4, 2010. Then it was $92 in Q!,2011 and then it was $182 on June 6 - just 8 days ago. It doubled in 3 months. And we have global finance issues!

So what's my point?

You cannot lump REEs in with the banks or the golds or the oils or the whatevers. They are on their own.

Lump them in with the broader market and your analysis is too shallow.