| This past week many momentum traders have turned their attention to a niche corner of the commodity markets – rare earth metals. Companies that explore and or process rare metals are of specific interest to traders because of strong moves in a couple of the sector’s key players. Based on their respective chart patterns, active traders will likely add these stocks to their watch lists because they could be setting up for a continued move higher.
Molycorp, Inc. (MCP) is one of the most popular rare earth players available in the public markets and it is a favorite amongst many who are interested in the sector. Recently, the company announced that it will supply rare earth metals for use in Siemens AG’s (SIEGY) wind turbine generators over the next 10 years. This news could be enough of a catalyst to continue to send prices higher over the coming weeks and months.........................................Full Article: Source
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