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 Replies: 27 / Views: 2,957 |
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Pillar of the Community
United States
3789 Posts |
its not late to get into platinum. You could wait for it to continue its run over its current trend line or buy when it confirms a yearly high.
Both of the P metals needed some sort of breather here after being up huge. Technical uptrend and fundies remain positive for a run up.
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Pillar of the Community
United States
4008 Posts |
Quote:
I wonder if we'll ever return to the days when platinum was considered the, er, "platinum standard" of precious metals... Sure it will, Barry, but it could easily take some time. That's one of the funny things about the PM market. It is just loaded with very sudden moves but also some very slow moves. Quote:
To late to get into platinum now, good move Ed back around 1400.... Thanks, Hawk. I have about a $9400 paper profit on the PPLT ETF shares now with a $10 trailing stop on them. Share price is about equal to 1/10th of an ounce of Pt. Since this is a long-term holding, I will not be selling these shares anytime soon unless there is enough of a pull-back in them to trip the stop. Best of all, these shares are in a Roth IRA... so Uncle Sugar doesn't get ANY of this!  |
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Valued Member
United States
456 Posts |
Ed, so does that mean your shares automatically sell if Pt were to drop $100 an ounce?
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Pillar of the Community
United States
3789 Posts |
No its that he has a set a point from where he purchased his shares in PPLT and now that hes in a profit, if they were to move lower by 10 pts, he closes his position and books the profit.
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Bedrock of the Community
United States
10982 Posts |
Amazing to think it was just 5 years ago that Pt hit $2300/oz. If I was a betting man I would have Pt hitting $2000 before gold. I'd even bet Pt hits $2k within 2 years.
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Pillar of the Community
United States
3789 Posts |
this is entirely possible. Its going to come down to supply and demand so time will tell.
Its early in the year but platinum and its buddy Pal look good and strong.
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Pillar of the Community
 United States
5855 Posts |
Hmmmm...
Gold, silver and platinum all took a sharp dive today. But then platinum (and palladium, for that matter) rebounded dramatically. Platinum is now over $30 above gold, in fact.
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Pillar of the Community
United States
3789 Posts |
Yes, platinum and palladium are the clear leaders and continue to lead. Gold and Silver probably will continue range bound, they should benefit from the price movements from Plat and pal in the short term.
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Pillar of the Community
United States
3670 Posts |
Pretty much a no brainer that the early story of the year is Platinum and palladium while G @ S still just remaining stable with much fluctuation of sideways movement for now....
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Pillar of the Community
United States
3789 Posts |
Gold and Silver are from stable. At this point, the best thing gold and silver have going for them is whatever they gain from Plat and Pals push higher.
They failed to push higher and lower lows look possible now.
For now markets are pricing in a better global economy and reducing their holdings. Who knows, perhaps a retest of yearly lows are in store.
However, I wouldn't really waste my time in Gold and Silver, two metals that are doing nada and for how long is anyways guess.
Also the liqudation in the long bond also makes me think that gold and therefore silver, are working their way lower.
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Pillar of the Community
United States
4008 Posts |
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Ed, so does that mean your shares automatically sell if Pt were to drop $100 an ounce? Basically, yes. At least, that would be the case for a fixed price stop loss type order. If a trailing stop is used, the stop price rises with the commodity but trips when it drops by a specific dollar or percentage amount. This is a trailing $10 stop on shares that are about $169 each now. I don't expect the stop price to be hit any time soon but have it on there as insurance against a sudden pull-back. It could happen, of course, but the tightness in the Pt market will likely resist this. Setting stops can be tricky and sometimes backfires on an investor if they don't allow for the usual volatility. If something is bouncing up and down in price by 2%, you don't want to use a 2% stop. Giving it some room is usually good and keeps it from selling too soon. Stops give the investor some downside protection at the cost of some upside profit. I like them because I have a harder time deciding when to sell something than I do deciding on when to buy it and as protection from deep drops in market prices. Stops are far from perfect, of course, but they do have their uses. |
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Pillar of the Community
United States
3789 Posts |
Stops are the ONLY real protection market participants have outside of using options for insurance.
a typical stop is 8 - 10%. However, stops are really going to be dependent on your time frame. Also, market conditions factor into stops. Many times 1-2 pt is a standard. IF you have a profit and you start to see market conditions turn and price action change, many times you just don't sit and wait for the full stop, then you lose any profit you had.
in Ed's case hes a very large stop. I think tho based on price action alone, dips are being bought and it has allow plat to consolidate.
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Replies: 27 / Views: 2,957 |
First Page
Posted 01/20/2013 2:50 pm
