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The Basement
Today's Neodymium "News"
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<blockquote data-quote="John Roberts" data-source="post: 32134" data-attributes="member: 126"><p>Re: Today's Neodymium "News"</p><p></p><p>I read an article in yesterday's WSJ about how high the short interest is in rare earth metal company's stocks (shorting a stock means selling borrowed shares in a bet they will go down in the future so investor can buy them back cheaper for a profit). Apparently one high level executive inside one of the RE companies sold a bunch of his personal holdings (Note: this is not always a definitive indicator of sentiment since people can need to raise money for random reasons). Also the stock prices for this group have lost about 30% so far this year. The shorts are betting they will go lower and the price/rarity fears are unfounded. </p><p></p><p>The recent announcement to release oil from our strategic reserve has apparently broken the back(side) of a bunch of hedge funds that were speculating on increasing oil and commodity prices. Also Bernanke's quantitative easing is set to expire soon which should also remove some upward pressure from commodity prices. </p><p></p><p>Should be an interesting summer... </p><p></p><p>JR</p></blockquote><p></p>
[QUOTE="John Roberts, post: 32134, member: 126"] Re: Today's Neodymium "News" I read an article in yesterday's WSJ about how high the short interest is in rare earth metal company's stocks (shorting a stock means selling borrowed shares in a bet they will go down in the future so investor can buy them back cheaper for a profit). Apparently one high level executive inside one of the RE companies sold a bunch of his personal holdings (Note: this is not always a definitive indicator of sentiment since people can need to raise money for random reasons). Also the stock prices for this group have lost about 30% so far this year. The shorts are betting they will go lower and the price/rarity fears are unfounded. The recent announcement to release oil from our strategic reserve has apparently broken the back(side) of a bunch of hedge funds that were speculating on increasing oil and commodity prices. Also Bernanke's quantitative easing is set to expire soon which should also remove some upward pressure from commodity prices. Should be an interesting summer... JR [/QUOTE]
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