The REMX (Rare Earths Strategic Metals ETF) hit the first price target (T1) for a 5.3% gain since the Feb 17th entry. The Rare Earth stocks still look poised for significant gains in the coming months and many of the individual names that were covered in the Feb 19th Rare Earth Metal Stocks Bullish Outlook video have once again started to exhibit bullish price action recently. T2 remains the primary downtrend line generated off the April 2011 highs with the current final target, T3, around the 34 level (exact suggest sell limit level to follow).
note: I’ve added a two additional Rare Earth stocks to the watch-list that was covered in the Feb 19th video, NB.TO, which trades on the Toronto Stock Exchange (TSE) and UCU.V, which trades on the TSE Venture Exchange. Also note that since that video was made, Quest Rare Minerals voluntarily delisted from the NYSE to move to the TSE in as a cost savings measure. TC2000 lists Quest under the ticker QRM.TO while the shares in my Interactive Brokers account changed to the ticker “QRMLF”.
On a related note, despite the bearish scenario that I laid out today for US small cap stocks, Canadian small & micro-cap stocks (TSE Smallcap Index & TSE Venture Composite Index) are amongst some of the more bullish looking non-US equity indices that I am tracking. More on those later.