Platinum and Palladium on moon shot
As I mentioned in When Credit Crisis hits, It may be too late to act yesterday, once the train leaves the station it’s too late to check schedules.
No one that I know of was predicting electric power shortages in South Africa being a catalyst destined to send Platinum and her sister Palladium on a moon shot.
You have to recognize that stocks like Stillwater Mining and North American Palladium were beaten down for no good reason and have already picked up some shares.
Stillwater was trading around $10 and North American hit $3.50 right before this rocket launched. After last nights price action in the metals who knows what today will bring; but as of yesterday they were up around 70% and 120% respectively – all in under 3 weeks.
Do I know where it will end? No, but I am glad I picked up a few shares at much lower prices. I’m kicking myself for hesitating and not buying more.
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