Same could be said here with Lynas Snacpa. Relative big swings and for some it's easy to forget we've gone from mid $4 to touching near mid $6 in a short space of time. Naturally some profit takers move in and big end try to reload as they did early in the week. It is easy for them to shake the tree when many retail holders are holding nice profits and weather it be panic or simple profit taking they sell. Panic selling is not warranted that's for sure - market fundamentals are only continually improving as we know. Anyway I believe the big boys (and girls) attempted the same at the open yesterday to have a similar effect as Tuesday - at the open they sold down around a couple hundred k trying to cause the same pile in sell mentality as Tuesday but many have said now - no - nothings changed and fundamentals are only getting stronger - glad I was positioned to advantage.
The whole - reo prices are up - why are we not trending up is a non issue for me. The markets so different these days and whereas in the past normally one would see incremental increases on such commodity increases - it doesn't always trend that way anymore particularly with reo's - graphite - niobium - even uranium plays as they are not traded on open markets like spot prices of other commodities which are updated daily and there for all to see. Asia metals etc are a great guide but it's more internal China related which of course benefits Lynas however with China being the dominant 80% supply avenue - Lynas well we are just a happy - very well placed beneficiary along for the ride - all the years is now and increasingly favoring the company and will do now for decades but particularly the next several years as no other supply arriving anytime soon and again Lynas will benefit in toll treating concentrate from smaller Australian concentrate producers. Then again Iluka could vision and plan the same strategy.
Anyway enjoy the next couple of days - it may be an enjoyable end to the week i feel with a swing back into sixes for the daily viewers glued to screens.
Strong, page-99
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Last
$7.60 |
Change
-0.150(1.94%) |
Mkt cap ! $7.103B | |||
| Open | High | Low | Value | Volume |
| $7.64 | $7.69 | $7.56 | $20.43M | 2.681M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 29813 | $7.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.60 | 121468 | 3 |
View Market Depth
| Last trade - 16.10pm 13/11/2024 (20 minute delay) ? |
| LYC (ASX) Chart |