Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
This is taking too long so cut it in two. (Must be the late hour :) Saw your post earlier today E/Paul but had too much to do. However in the course of digging up some info leaving no time to post I became aware of two things that a) Might give you some sucour in your observation for a more positive outlook to the week ahead than I have thus painted so far. and b) Why the SP MIGHT not fall further. A few quick notes: First, to your first point; 'Oversold' - on the contrary on a cumulative basis the SP is not oversold. In fact the SP was technically overbought until Friday morning and has been above and over RSi 70 (Relative Strength Index) for a good week now since about Aug 23/24th approx. (RSi 30) is the opposite below which a share price is considered oversold. I hadn't checked and due to the magnitude of the fall just assumed like you "that's gotta be oversold now probably at or below RSi 30. But not a bit of it - it closed at a very reasonable and steady-as-she goes 50 RSi. That surprised the hell out of me. Re-seeing the hitherto technically overbought condition against MCS reminded me of one of the reasons I had been holding back (MCS is currently a highly rated company and receiving favourable media coverage up until Friday, in tip-sheets and everything, which might explain the overbought situation, so the price by Friday close has let the overbought pressure-cooker steam escape to a more sustainable level). On buyers and sellers volume -. Firstly the volume display on this site is inadequate in that it doesn't give you enough information. I prefer those volumes where the sites colour them red for down-volume or as I call it 'bad volume' and green for up-volume (good volume :) A lot of explanations on the web will say that's because there were more buyers (green) or more sellers (red) but as you pointed out that is not so for Friday yet on sites all over the web every single one is colouring the volume in red! Yet sellers were in the minority (incidentally Friday's total volume was the higest for MCS since the end of June - and before that a mega volume day in March So it's the third highest volume day in nearly 6 months! I subscribe to the view that it's red volume if the price closes lower at the end of the day than it OPENED - no matter if like in this case buyers were greater in number than sellers (more of that in a mo' ) And visa versa if the price closes higher than it opened it dosen't matter if sellers were greater than buyers - it'll be shown as a green volume bar. And that's what's happened here. I challenge anyone to trawl the internet and find a chart showing Friday's volume in anything other than red! There isn't one. From what I see on those charts still showing Friday's volume the price opened way down at just under 191p. It was waaaay over £2 at close the day before, wasn't it? So no one had a cat in hell's chance to get out at anywhere above £2 first thing Frida