Platinum, Thoughts?

M

MadeMan

interresting situation , with huge downward potential!

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Hmmm , the signs of strength fail to unfold in platinum , the high volume at the supportish level, wich holds price
above it , shows some buying activity , as price stays above the level , yet no one is follwoing price any higher

the first rally after the high vol. spike at support , stopped at the middle point of the range at 1540

the second rally failed to make a new high

the third rally attempt ??? well its still on , so we dont know yet where this halts..

but at this supportish level with this buying activity we should think that price should start a rally
but it fails to show the strength ... this pot. strenght wich isnt conformed is actually a sign of weakness!

however we make no significant downward progress too

a buying opportunity would only be present if we take out the upper channel line and make a higher low

however a short woulod be much more interresting if we break support significantly , as all potential longs
would most likely puke the shit out of it.. which will propell platinum , way down till 800ish! as we have enough space to the downside!


will be interresting to see how that situation resolves itself!
 
Quote from MadeMan:
----interesting situation....
----will be interesting to see how that situation resolves itself!
More...
1) If "this", then maybe "that".... :)
2) On one hand......but then on the other hand..... :p
3) Conditional response, hedged response, probabilistic response.... :eek:
4) Once we're out of the holiday doldrums, the chart might have better "clarity". :D
5) It's nice to see somebody interested in platinum for a change. :cool:
 
Quote from nazzdack:

1) If "this", then maybe "that".... :)
2) On one hand......but then on the other hand..... :p
3) Conditional response, hedged response, probabilistic response.... :eek:
4) Once we're out of the holiday doldrums, the chart might have better "clarity". :D
5) It's nice to see somebody interested in platinum for a change. :cool:
More...


1+2 ) yea , anything can happen , just participate :)

3.) hmmm , all good points, me thinks, all in all trades have been fasciliated:cool:

4.) do you use charts when it comes to trading or judging the market ? nazz ? :)

5.) just another instrument to throw some cash at :D
 
Quote from xandman:

Wow. That's a pretty looking short. I don't think gold is going anywhere, but platinum looks compelling.
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not quite there yet...
 
Quote from MadeMan:
4.) do you use charts when it comes to trading or judging the market ?
More...
Yes. My time frame is very short. It keeps me better focused and keeps losses smaller compared to when using longer time frames.
 
I am a little bothered that my broker requires a call to the trade desk to short PPLT. I wonder why. Perhaps, I will get gouged for the short rate.

Additionally, My usual sources for short interest information came up with N/A. Except for this site.

http://shortsqueeze.com/?symbol=PPLT

Is short interest ratio meaningful for a commodities ETF? The ETF provider stands ready to buy and sell units on a daily basis.
 
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