Thursday, July 28, 2011

Game on: Rare earths playing tough

3:51 am (Hawaii) ZSL gaining in the past several minutes as gold and silver paper sell off. Note that the indices are now in green territory. XG tanking as it often does, but I'm not selling and I'm not adding more. This small position is more than enough exposure to the wacky miners. DGP's modest gain has dissipated. GSVC was green, but is now red. Not selling, but I'll look to add when it nears 15.55 (50% retrace from pre-second surge that went to almost 20).

SHZ has lifted to 3.34 on the rare-earths run today and yesterday. Strictly a day trade and will fall on its face once AVL, REE and MCP get hit with profit-taking. I saw SHZ at 3.26, saw it come back to 3.23 and wanted it at 3.19 (50% retrace of today's early gain). But it didn't get there and ran higher. Still watching, but this would be a tiny position anyway. Not chasing. I think.

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