We missed some good trades on Palladium stocks this week, but
may be just beginning. While browsing thru some longer term futures
charts earlier this am, noticed that Palladium had broken out of a
really nice 6-7 month horizontal channel earlier this week for a
nice little move. But on looking at a weekly see that we're at the
top of a perfectly formed ascending triangle going back till Feb.
of last year. Guess it could BO from here, or may need just a
little more back filling.
The 2 major domestic stocks in that category are PAL and SWC -
Look at moves this week. PAL went from nice rounded bottom from .35
to .55 and SWC broke out 2 days ago for nice move. PAL pulled back
some yesterday, but looking at a lower high on Pallidium than where
we are now back in Jan., PAL went to almost a dollar, so we may
want to watch both of these, especially if we get a little pullback
in the futures mkt. I'm thinking that I may go ahead and initiate a
small position in PAL now.
racerick- we
posted PLM as a trade idea in Wednesday's letter and right now PAL
has a bull flag setting up. SWC, you can't chase that, in
fact it's taken back 50% of yesterday's large candle and got too
far away from the 9 EMA.
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Palladium
Posted by racerick on 7th of Mar 2014 at 07:57 am
We missed some good trades on Palladium stocks this week, but may be just beginning. While browsing thru some longer term futures charts earlier this am, noticed that Palladium had broken out of a really nice 6-7 month horizontal channel earlier this week for a nice little move. But on looking at a weekly see that we're at the top of a perfectly formed ascending triangle going back till Feb. of last year. Guess it could BO from here, or may need just a little more back filling.
The 2 major domestic stocks in that category are PAL and SWC - Look at moves this week. PAL went from nice rounded bottom from .35 to .55 and SWC broke out 2 days ago for nice move. PAL pulled back some yesterday, but looking at a lower high on Pallidium than where we are now back in Jan., PAL went to almost a dollar, so we may want to watch both of these, especially if we get a little pullback in the futures mkt. I'm thinking that I may go ahead and initiate a small position in PAL now.
What are your thoughts?
racerick- we posted PLM as a
Posted by matt on 7th of Mar 2014 at 09:55 am
racerick- we posted PLM as a trade idea in Wednesday's letter and right now PAL has a bull flag setting up. SWC, you can't chase that, in fact it's taken back 50% of yesterday's large candle and got too far away from the 9 EMA.