Count me in, I nibbled on pal at 3.95, added more at 4.04 and 4.48. 5 years ago when Rhodium was 380oz who would have thought it would eventually be worth 7200oz.
Palladium
- Thread starter Shagi
- Start date
Very intesting point. Metals in general are up huge, so maybe this breakout is just palladium catching up. A big reversal in the metal complex could bring this thing all the way back down, and I will get stopped out unch. Oh well - no biggy.
But - as a trend follower the last thing I want to do is get in the way of what is potentially a major new trend. In 1998, palladium had gapped from $1950 to $2500 in three weeks. I guarantee alot of folks thought it looked extended at that point. If you look at the 1999 - 2001 chart, you will see that the folks that thought it was extended missed out on a once in a generation trade. Not saying that this move will generate a move like that, but who am I to predict the future? I just trade the system.
But - as a trend follower the last thing I want to do is get in the way of what is potentially a major new trend. In 1998, palladium had gapped from $1950 to $2500 in three weeks. I guarantee alot of folks thought it looked extended at that point. If you look at the 1999 - 2001 chart, you will see that the folks that thought it was extended missed out on a once in a generation trade. Not saying that this move will generate a move like that, but who am I to predict the future? I just trade the system.
