My friends, palladium is a perfect example of why I LOVE trends in all sorts of asset classes.
As time goes on, as more yearly highs get hit, the smoother and stronger the up trend becomes. Conversely, when a downtrend starts and picks up steam, it also does the same.
In the case of palladium, we can see how over time, the trend got stronger, the dips became shallow and were quickly bought up. As key levels where hit where no overhead supply ( overhead supply as in price having no memory), prices accelerated.
THAT is why trend following works and you can make tons of money until it dies.
My hope is at some soul bought palladium, whether the ETF or some coins and enjoyed this beautiful uptrend.
I would stay away until price shows that its done going down.
How low will it go? I dont know, thats why I would avoid it. Trends, once they pick up steam, they continue to go in that path of least resistance for a LONG time.
Platinum is caught in a downtrend now that its hitting yearly lows and one should expect this downtrend to continue.
Eventually it will stop but that could take years. It will take time to stop this momentum to the down side.
For me, platinum is a sell. There will be counter trend rallies as it drops and this should be expected but they will not signal an all clear to buy platinum.
You are better off looking at Palladium. Remember, no price is to high to buy. That is NOT to say you rush out and buy palladium, mortgage the house, farm and kids and buy NOW. Rather you want to looking assets that are rising and then patiently wait for a proper entry, such as, if you wish, a pull back.
Over the last month or so, I have developed a very close interest in platinum, palladium and gold. While I am alive, I can't get away from it. Maybe in death I can.
I have had the misfortune to suffer a severe tooth collapse, and now have a dental crown composed of all three metals. The crown has cost me nearly $2,000. A high strength porcelain crown, which I would have preferred, could not be used.
When I kick the bucket, my kids now have to go through the messy negotiation process of recovery of it after I have been cremated. The crown does not belong to the crematorium authorities, but they will keep it if you don't tell them.
It is even more valuable, because it has recycle value, and the alloy proportions do not have to be changed. There is just enough gold it it to have a slightly yellow tinge, to match tooth color as closely as practicable.