Rare Earth Mania Continues (MCP, REE, AVL, more...)

Rare earth stocks are continuing their meteoric run this morning, with sector leader Molycorp (NYSE: MCP) leading the action after CEO Mark Smith said in an interview with Bloomberg Radio that the company may double its planned production from 20,000 to 40,000 to help meet global demand after China cut export quota.

"We will be making some presentations in the first quarter to our board of directors on the economics involved of doubling production,” Smith said.

Yesterday's bullish action in Molycorp was driven by a price target hike at Dahlman Rose.

Market Movement:
Molycorp, Inc. (NYSE: MCP) +6%
Avalon Rare Metals (AMEX: AVL) +4.7%
Qiao Xing Universal Resources, Inc. (Nasdaq: XING) +4.7%
China Shen Zhou Mining & Resources, Inc. (AMEX: SHZ) +3.4% (also hearing positive newsletter mention)
Rare Element Resources Ltd. (AMEX: REE) +3.4%
China Armco Metals, Inc. (Nasdaq: CNAM) +2%
China Direct Industries, Inc. (Nasdaq: CDII) +2%
Ossen Innovation Co., Ltd. (NYSE: OSN) flat

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