U shud be up now....if u scaled in at -46 I was waiting for the flushout to end...now i am scaling in....will look to do more -30 ....ultimately your avg is better than mine...but i didnt have to deal with the falling knife....
i got out a while back at -20 for a small loss......platinum is too weak. better to do palladium vs gold (1 by 1)
After widening to -60 the spread is starting to come in, helped by metals forming a bottoming chart formation. The april spread has about 20 days to trade. I started out thinking the PLJ/GCJ could go back to 0.0 by now... still -30.0 puts me in the profit zone.
I rolled over from PLJ/GCJ to PLN/GCM. The spread is still -55 to -60 zone because of overall metals complex weakness. It will take metals complex to bottom and turn higher for the spread to go our way. Since we can't predict the future we just expanded our time frame. We'll wait ... it'll take time but we don't get out until we profit.
PL/GC ratio is at .90 which is near 3 year lows. We're rolling from PLN/GCM to PLV/GCV. We also added one more PLV/GCV at -110.
One of the worst trades I ever made was buying that spread when PL dropped from 2.0 x GC to 1.8 x GC. That was a multi year low at the time. I feel for anyone who gets sucked into this trade. Best to just leave it alone.