Per NFTRH 552’s Commodities segment on Sunday:
REMX is testing its December Low. Downtrend in force. Can bounce.
Ha ha ha… of course it can bounce. All the way up to its 50 day moving average, within its downtrend.
Man, machine, black box, robot, algo, casino patron and maybe even Ma & Pa pressed the ‘ba ba ba ba… BUY!!!’ buttons because Xi visited the Rare Earth Elements region! Of course they did. It’s the market we have and if you are mind reader enough or insider enough to being privy to the strategies and tactics of the Trump administration or China’s Central Planners you are a front-running day trader extraordinaire.
“Can bounce” my ass. Of course it can bounce. In fact it will bounce until it is forgotten a couple days later in favor of the next thing (tweet, industry visit, gesture, hint, threat, implied appeasement, etc.) that drives the machines into a frenzy. It’s the market we have and it is informed by hype now on a daily basis.