Wednesday, June 19, 2013

Gold at Bottom of Bernoulli Channel

Took long gold at 1286 during HUGE late night volumes

Long standing rule is to expect support to hold.   This is the last support.

And wrote at the Slope

Check out palladium as a nice diversification.....
Only ones with warehouse is Russia  and they are out of stock
Russia and South Africa make 90% of the worlds....and they are forming a consortium to control price better
The option to Palladium is Platinum which is like 1400 versus 700
China pollution sucks big time...they will need to buy more PGM group for catalytic converters

It is nice story that works in all but the big deflation scenario