Financial writers can be snarky at times and the current Marketwatch has a semi snarky column on Jim Dines and rare earths. Dines is indeed a rare bird in more ways than one. We like to go to his booth at investor shows. Not to see Dines. We know what he looks like. We like to see the chesty birds he fills his booth with. Investor shows are boring affairs and a little sex appeal never hurt any writer’s letter.
REE is the subject — and rare earths are in the news. Readers should be careful of this fad or trend. The train has already left the station. Long time readers know that we have been long some rare earths for quite some time and have some nice profits. But as for REE we are now into speculative excess.
If you are into speculative excess you can buy this rocket, putting a 3% stop under today’s low. For ourselves we will watch this one with interest but without any chips on the table.
It’s late in the cycle for new investors to rare earths, but we will look at things over the next few weeks for a way for the late comer to get on board.