Already ran up to $494.50 today on this contract. A break over $500 will send in the funds in a very large way in my view.
the March high at least, then consolidation to 550-600 range, then a massive breakout over 600 onto 800. IMVHO of course..
starting to agree with that - its right on res here on 5 year daily chart at 472/475 holding like a rock though so Id think it will gradually erode the line fundamentally substitution should gather pace from Pt and with Russians telling the market they have low inventories the market will move into deficit on annual basis. support pegged at 412/405 i think
(NYT) Honda to Use Exhaust Device That It Says Will Cut Costs Several of these articles appeared in the past week, the one in Reuters cited several Japanese companies who independently found workable solutions to completely replace the PMG group in converters. I was thinking is this misinformation? But the sources they cited were well scattered and sounded credible. Just to be prudent, I am going to trim to normal my over sized PAL option position rather then holding on to it thick and thin. On the other hand nothing could shake my conviction that silver is in for a wild ride.
such stories have been coming out for years..... they should have a negligble effect in the short term imho ETF still buying up both Pt and Pd in good size and taking out of the market...
BillyRay1, Thanks for that info. I have not been following the metal's news over the years so I would not know. During the bird flu scare I have followed the poultry stocks and I have discovered the most outrageous manipulation of the news. In one prominent article they mentioned the ticker of some pork processing company that had no exposure whatever to bird flu and forgot to mention the companies with the largest exposure. Ever since I take everything with a grain of salt. The timing and grouping of the no-more-need-for-PMG articles at a time when the market seems to be bottoming is certainly interesting. Best, GC