Still holding on to Palladium. 550 to 500 is a reasonable move buy end of 2008. Thank you Ford motor company for setting the all time high bar way above there. Akuma
I bailed out of PAL friday, Ill get back in if/when it comes down to 3.85 or so. Looking at the five year chart for Palladium it appears the price has hit the top of the trend for now and will bounce hard off of 450/oz. Could be a 20 to 30% drop in price on the way. With my luck I'm probably missing out on a huge upward move in palladium price. What do you guys think about the five year chart. http://www.kitco.com/LFgif/pd1825nys.gif
Stops to $430 - $5 above the last entry - Only concern on this trade is direction of the dollar - its trading in a tight range despite the agressive and promised rate cuts- why the strength - we will see
man old crazy paladium guy JJ is really killing it now. i believe he is up 100% or something close to that now. doubtful that he will ever sell and book some profits but he is up good right now.
Crazy volatility kicking in - so we have moved stops to $445 under today expansion bar. If it gets really parabolic it could hit $550 this week at which point we will throw in th towel and someone will carry the bag.