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Strong trends and weak fundamentals

By breakout on 2010/10/18

Some rare earth elements and precious metals stocks made today a restart in their fulminant trends. All of that coincidentally at the beginning of the earnings season.

Here we have Molycorp (MCP):

mcp181010

and Rare Element (REE):

ree181010

and finally Golden Minerals (AUMN):

aumn181010

Common to all three (and other peers) seems to be a technically fine trend and fundamentally a high or even obscene valuation. These are the right horses for momentum traders only.

Posted in Stocks, TU | Tagged AUMN, MCP, REE

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