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Good Morning
Have a Great night
what burn all your coal?
MCP next stop should be about 44 then 39-40ish then 37
Good Luck wiht those,, cnbs is about to beat them up
Dec 28 (Reuters) - China said it would cut its export quotas for rare earth minerals more than 11 percent in the first half of 2011, further shrinking supplies of metals needed to make a range of high-tech products. [ID:nTOE6BR02A]
Here are five facts about rare earth elements:
* There are 17 so-called rare earth metals. They have names like europium and cerium, and are used in a range of products from MP3 players and computer hard drives to hybrid cars, wind turbines, light bulbs and coffee makers.
* China produces about 97 percent of the world's rare earth elements. So its announcement on Tuesday that it was again cutting its export quota sent shockwaves through the markets and -- at least temporarily -- boosted the shares of rare earth producers in other countries, whose ranks include Molycorp Inc. <MCP.N> of the United States, Rare Element Resources Ltd <RES.V> <REE.A> of Canada and Lynas Corp <LYC.AX> of Australia.
* Rare earth metals are not as rare as the name suggests. The United States once dominated global production and has a large deposit in Mountain Pass, California, at a mine owned by Molycorp. But in the 1990s, China, which also has large deposits, began flooding the market and sending prices tumbling. Between 1990 and 2006, the average price of rare earth metals fell about 75 percent.
* Production at Molycorp's mine, which was once owned by a unit of the oil company Chevron Corp <CVX.N>, stopped in 2002, in part because of the price collapse. The shutdown has increased the rarity of these metals, and China's export quotas have further tightened supplies, but the U.S. Geological Survey says global supplies are plentiful.
* In addition to Molycorp's Mountain Pass mine in California, other mines under development outside China include: Great Western Minerals <GWG.V> facility in Steenkampskraal, South Africa; Avalon Rare Metals' <AVL.TO> operation in Nechalacho, Canada; Lynas Corp's <LYC.AX> facility in Mount Weld, Australia; and Arafura Resources <ARU.AX> mine in Nolans, Australia .
Sources: Company websites, U.S. Geological Survey
(Reporting by James B. Kelleher in Chicago. Editing by Robert MacMillan)
((james.kelleher@thomsonreuters.com ; +1 312 408 8130; Reuters Messaging: james.kelleher.reuters.com@reuters.net )) Keywords: CHINA/RAREEARTHS
The pricing of RE's are a bubble from everything I have read,, 1st you have to keep in mind that Rares Earths are not rare at all,, THey are just messing and expensive to process, the ore its self is the cheap part of the deal.. imo the bubble is MCP it's self, if you read their 10q,, at this pps they are decades ahead of earnings.... There are mines all over the world that can get fired back up soon,, and were shut down because China was selling RE's so cheap and was not cost effective to mine, as the price may be up in the short term, they will not last as more and more production comes online...
46 next stop
If I read this correctly all this hypes is all over two tons of RE anyhow http://www.reuters.com/article/idUSTRE6BQ2QA20101228
Was in side and heard CNBS finally beating up MCP,, now the fun should start
Back,, had to make coffee... 1999 Internet bubble
Good Morning,, Justy getting up... You got to be f'ing kidding me,, mcp up another 9% this am.. WTF it's 1999 all over again
I'm fine,, just messing around the house... not really wanting to add or sell anything yet..
WOW csco broke 20
Xmas was great,, still feeling the hangover lol
Coffee starting to work!!! Cant find anything for the mcp pop.. they must still be snorting re
GM G2,,,
Good Morning all,, over slept// WTF with mcp,, all my news has not leaded yet??
Still need lots of coffee
MERRY CHRISTMAS Guys,, Have a SAFE wonderful time and cya all next week :)
BAck for a few,,, I bought your 41 mcp puts, just a few at 1.45,, could not resist,, WAY TOOO MUCH TOOO FAST.. also dumped some of my bac 14 febs,, looking really weak for the moment..
Outta here for now, should be back before the close.. If Not Merry Christmas
Fast Money clowns made bac sell off
I would straddle it or strangle it,, not sure if I would just buy calls,, IMO much more downside then up. We have all seen these before,, the fun will end. there is nothing to support the PPS except fools gold.. Have dd'd this to death, and this is a decade ahead of it's self even with the rare earth bubble
Just checked in,, yeah it is! I only question is WHY?
Depends on how you file, but, for the most part yes the 31st unless you need the 3 day settlement
I'm still very bullish on bac,, thinking about adding to my feb 14's but I really should be selling as I am at 125% but, it is all pretty much paid for tho, between selling some and selling most of my puts..
If it stays flat next week, I will prob start looking at march april calls,, let a little more decay happen,, the prem is still falling out,, IF the bulls are rite, they should be back over 21-22 in no time at all..
I would say low vol but, BAC is at 35 mil already.
What really bothers me going into next year is, everyone is way tooo bullish,, between the vix, option chains and all these talking idiots on CNBS,, Then I have the saying ringing in my head like Jingle Bells " The Market makes as many fools as it can" but then there is this one too! "The market can act irrational longer then you can stay Liquid"
Fishing sounds like a blast...
I am not expecting any big gaps either way today,, in anything unless news driven.. thinking chop chop chop
Thru a pot already and had to go to the store and got a super sized one to go.. I'll be wired LOL
Good Morning all,, looking like a flat day.. Wall Street must have bailed the street,, probably be this way till after New Years.. We might get lucky on some low volume runs or tutes trying to cook the books!
Nope its open
Outta here,, Lot of numbers in the morning,, Have a GREAT afternoon :)
Closed
Thinking fins head up a little more tomorrow, then next week??? Who knows
Is friday closed day or half?
Have a good one G2
think I said that this AM when you hit a double on the puts