Ohhhh Ahhhh Ohhhh! Palladium!

[Neuro]

Palladium seems to be making a move in the last few weeks. I was hoping for another chance to buy some in the 300's, but it doesn't look like it's going to happen anytime soon.

Palladium will never be in the 300's ever again, unless a new Currency is introduced!

[Neuro]

I sold out my PALL holdings today. Bought back in July (+$10/share 44-55).

Silverbach was right about buying Pd on the dips and selling on the rise up. It has been like clockwork the past couple years.

Too early IMO, Pd will break out soon!

[StackerKen]

I couldn't help notice the impressive moves Palladium has made the yesterday and today....shoot..and the past year....

[DMac]

I sold out my PALL holdings today. Bought back in July (+$10/share 44-55).

Silverbach was right about buying Pd on the dips and selling on the rise up. It has been like clockwork the past couple years.

Too early IMO, Pd will break out soon!

Could be. Physical Pd will not leave my hands. Paper - that's another story. $10/share is good in my book!

edit: as Sagi (RIP GIM) once told me, no one ever went broke taking profits.

[Neuro]

I sold out my PALL holdings today. Bought back in July (+$10/share 44-55).

Silverbach was right about buying Pd on the dips and selling on the rise up. It has been like clockwork the past couple years.

Too early IMO, Pd will break out soon!

Could be. Physical Pd will not leave my hands. Paper - that's another story. $10/share is good in my book!
edit: as Sagi (RIP GIM) once told me, no one ever went broke taking profits.

Oh indeed, and I agree with your priorities. There is a possibility that Pd will bounce one time from around 580 to low 500's before breakout of the cup and handle formation too. Congratulations to your paper profit, transform it to real stuff pronto!

[Neuro]

This thread needs a chart:

http://www.kitco.com/LFgif/pd1825nyb.gif

IMO we are still in the early stages of a steep parabolic curve...

I think Pd was up and smelled a multi year high today. It should take off once over 600 IMO, but I wouldn't be surprised if we go back to low 500's before that happens!

[MNeagle]

Palladium Explodes to the Upside

Submitted by madhedgefundtrader on 10/03/2010 08:32 -0500

Exchange Traded FundFree MoneyToyota


If you are thrilled about the recent performance of gold, you have to be absolutely ecstatic about the ballistic rise of palladium, which has soared by 35% in the past two months. Regular readers who already know that I have been pounding the table all year on palladium are now cashing in big time. Double dippers beware! Moves like this by industrial commodities do not occur in the face of a collapsing economy.

Palladium, named after Pallas, the Greek goddess of wisdom, has been mined in South America for over 1,000 years, was discovered as an element in 1804, and saw jewelry use start in 1939. But in 1975 it really came into its own when a nascent environmental movement got legislation passed requiring catalytic converters on all new American cars.
Toyota’s USA’s president, Jim Lentz, believes that the US car market will recover from the present 12 million annual units to 15 million by 2015. You can forget the drug induced haze of 20 million annual units free money brought us, returning in our lifetime. Fewer than one million of these will be hybrids or electrics. That means industry demand for catalytic converters is ramping up by 3 million units a year.

Which catalyst will the auto makers choose? Palladium at $580 an ounce or platinum at $1,680 an ounce? Hmmmm, let me think. They do have new management now, so maybe they’ll figure it out. Some 80% of the world’s palladium production comes from Russia and South Africa, dubious sources on the best of days. That means that a long position in this white metal gives you a free call on political instability in these two less than perfectly run countries.

Also known as the “poor man’s platinum,” demand for palladium for jewelry in China has been soaring with the growth of the middle class. On top of this, you can add $387 million of new demand from the palladium ETF (PALL) launched in January, which will soak up a hefty 10% of the world’s production.

Those set up to trade the futures can play the Decembers contract, where a margin of $3,713 gets you a 100 ounce exposure worth $53,900. If you are looking for something to stash in your gun safe, bury in the backyard, or give to the grandkids on their college graduation, get physical. You can buy 100 ounce bars at $50 over spot, or Royal Canadian Mint one ounce .9995% fine palladium Maple Leaf coins at $50 over spot. And yes, you can even buy them on Amazon by clicking here at http://www.amazon.com/Palladium-Ounc...5257880&sr=8-1

To see the data, charts, and graphs that support this research piece, as well as more iconoclastic and out-of-consensus analysis, please visit me at www.madhedgefundtrader.com . There, you will find the conventional wisdom mercilessly flailed and tortured daily, and my last two years of research reports available for free. You can also listen to me on Hedge Fund Radio by clicking on “This Week on Hedge Fund Radio” in the upper right corner of my home page.

ZH

[Neuro]

Today it seems Palladium has broken out! I think it has an all-time high at around $1000/ounce. It may be that it won't reach resistance until that level...

[chad]

i'm unsure of whether to sell it at $1,000 or hold out for insane-tin-foil-hat cold fusion $10,000 pricing.

[Neuro]

i'm unsure of whether to sell it at $1,000 or hold out for insane-tin-foil-hat cold fusion $10,000 pricing.

I know! I just have 1.5 ounces of it, so I probably just hold out for the insane. But on the other hand, it is not a very good SHTF metal, which may be more likely short term than the up in the cloud cold fusion 10.000 level. If you have a few ounces maybe sell half at a thousand, and you keep the rest free of charge with a few dollars in your pocket, for possible insane gains...