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View Full Version : OK...Now What Price to Sell?



AUfool
03-04-2008, 07:49 AM
Given the incredible resumption of platinum's parabolic rise, I thought it would be interesting to have a second poll on the subject of when the first major selling top (preceeding at least a $100 pullback for rebuying) might come.

My favorite metal just pushed through $2300 for the first time a few minutes ago and, although I originally figured to sell at $2400, I'm getting greedy now.

What does the majority think now? Are you with me here? Last poll had $2400 as the top pick with $3000 or more running a close second.

preciousheart
03-04-2008, 08:08 AM
It's not that I don't WANT to participate in this poll but - I have no freaking idea.

AUfool
03-04-2008, 01:59 PM
Looks to be a bit of downdraft here today on the PM side of town. I am just amazed at the stalwart backbone the platinum bull is showing! Everything else (especially the tag-along little sister Pd, down over 6%) is in the dumper today with a major bump down, yet Pt has lost what...$6 from $2231...about 1/4 percent. And look at PGM King Rhodium...up over 3% today and off toward $10,000!

I do like this metal! It almost seems as though she's just pacing herself a little to avoid getting too far ahead of "the little ones" on this trek or to keep the kid sister from getting too jealous.

STRENGTH!

Commoner
03-04-2008, 06:48 PM
I understand giving human qualities to inert metals but when Palladium is referred to as “kid sister” it is too much for me. I have read articles and posts about gold being the king of metals, and if that is the case then Palladium is a minor deity not one of “the little ones”. Perhaps copper or nickel could be called a little one, but by no means, my good man, can Palladium be called a little one. I have always capitalized Palladium out of respect. Perhaps out of respect for the fairer sex we can call platinum the queen. :D

Mozart
03-04-2008, 08:08 PM
Perhaps out of respect for the fairer sex we can call platinum the queen. :D


Interesting points, Commoner. Well, if it pleases you, the kind of commodity that would lead the markets are called "Strong Sister Complex", like how Pt is today with the current bull market. Pt will lead, for sure.


Next on the market strength of the PM bull is silver; then Pd, the "big, little sister" (like a restless, growing teen girl) of the complex, then the "old man" Au.


I do like to anthropormorphize my metals as well. My wonderful, shiny Pt 1-oz rounds -- which I just picked up today, almost 3-dozen of them -- I like to call "my hot, little platinum blonde honeys". :p

Mozart
03-04-2008, 08:16 PM
My favorite metal just pushed through $2300 for the first time a few minutes ago and, although I originally figured to sell at $2400, I'm getting greedy now.



Hey AUfool, so that means that you aren't gonna sell at $2,400, but at $4,000 +, yes? If so, good. Greed is good...up to a point. I define "greed" as "celebrating abundance"--as long as the abundance comes to me in grace and the right way of good karma. I will not partake in any kind of profit if it harms another and investing in PMs is a great way of increasing wealth without harming another, I would think.


<g>


~Seth

alkeme3
03-04-2008, 10:15 PM
...I will not partake in any kind of profit if it harms another and investing in PMs is a great way of increasing wealth without harming another, I would think...

I have been wondering about this.

One could say investing in PMs requires the raping of the earth I mean mining. What do we know about mining? What do we know about the individuals that work their muscles and trade the sweat of their brows so that we can profit from a rise in the price of an ounce of platinum? What do we know about the companies that employ them and about the governments under which they make their sustenance? Is the system just? Is it moral, or is it immoral, or is it amoral?

I don't know.

But just like eating a hamburger involves the slaughter of an animal somewhere along the way, I don't imagine that PM investment is bloodless.

gold stacks
03-04-2008, 11:25 PM
I voted "2400.00" just as I did before...


GS

Falcon7
03-05-2008, 04:30 AM
Watch out for $2400 platinum. Many predict an initial sell out, similar to that of $600 palladium and $20 silver.

wrestlingbulls
03-05-2008, 07:33 AM
looks like a good day to be selling with pt down over $100. anyone going to sell today or is this just a short correction?

gold stacks
03-05-2008, 11:37 AM
Just Gained Back All Of Yesterdays Losses...!!!!

oklabrow
03-05-2008, 12:40 PM
Sure looks like people are trying to talk this platinum market down. This story came out yesterday. The platinum seems to come right back in their faces though. http://www.mineweb.com/mineweb/view/mineweb/en/page35?oid=48621&sn=Detail Cant say this had anything to do with the sell off, But?

AUfool
03-05-2008, 01:09 PM
looks like a good day to be selling with pt down over $100. anyone going to sell today or is this just a short correction?

When I say $100 drop, I mean the price from one closing to the next, as shown on Kitco's quotes. Today was a good day to sell? I don't think so!

For all the metals, it seems, this morning prior to New York opening was a very good time to buy!

I, myself, bought a million ounces of silver on the Kitco Pool, one ounce at a time, this morning. ;) Did some of you say you had trouble getting in? :rolleyes: Sorry! :D

AUfool
03-05-2008, 01:17 PM
Just Gained Back All Of Yesterdays Losses...!!!!

Platinum "lost" yesteday? I saw it close only a couple of bucks down...less than 0.25%. Today, it's gaining good again. It was palladium that took the big beating yesterday, down around 6%, which it has not yet gained back today, although it's trying.

AUfool
03-05-2008, 01:30 PM
Sure looks like people are trying to talk this platinum market down. This story came out yesterday. The platinum seems to come right back in their faces though. http://www.mineweb.com/mineweb/view/mineweb/en/page35?oid=48621&sn=Detail Cant say this had anything to do with the sell off, But?

I posted that story over on one of the palladium threads yesterday, where the fellows were feeling a little testy over their 6% losses...just to make them feel better.

Funny thing about that story is that it says $2150 would be kind of a top for Pt yet here we are today looking at a chart showing $2150 as pretty solid support and it's nicely up again today headed briskly back toward $2300 ($2267 at the moment).

On the other hand, Pd is still clawing back just past $550 ($555 now) and has a long way to go to regain the 6% lost yesterday. I still think that, for now and for the next six to 12 months, Platinum will outshine Palladium in general and both will do well from here. JMHO

FeboWebo
03-07-2008, 01:56 AM
SELL NOW BEFORE MY COW COMES HOME!

Bad pun my wife reads this forum...

AUfool
03-07-2008, 02:04 AM
Febo...I think I'll take your advice and sell all of my Pt and Au. There's a sale on Jif peanut butter going on and I can pick up 534,221 jars if I trade out now. When it skyrockets back up to $4.00 a jar, I'll be able to retire, and I hear it lasts longer than gold or platinum without oxidizing because of the secret ingredient, pure hydrogenated vinyl.

FeboWebo
03-07-2008, 02:14 AM
Febo...I think I'll take your advice and sell all of my Pt and Au. There's a sale on Jif peanut butter going on and I can pick up 534,221 jars if I trade out now. When it skyrockets back up to $4.00 a jar, I'll be able to retire, and I hear it lasts longer than gold or platinum without oxidizing because of the secret ingredient, pure hydrogenated vinyl.

Now thats the best move I've heard all week!

Wait you're joking right?

We need another poll... :D

Include Goobermint Cheese! ;)

AUfool
03-07-2008, 02:20 AM
Sadly, my PM holdings disqualify me from obtaining the goobermint cheese. I have definitely been watching Velveeta, however, due to its high hydrogenated vinyl content.

FeboWebo
03-07-2008, 02:26 AM
Sadly, my PM holdings disqualify me from obtaining the goobermint cheese. I have definitely been watching Velveeta, however, due to its high hydrogenated vinyl content.

Good thing I passed on Velveeta it reminds me of cheez wiz...

GO SILVER GO GOLD GO PALLADIUM GO PLATINUM...

Yes, in that particular order!

FeboWebo
03-07-2008, 02:27 AM
Sadly, my PM holdings disqualify me from obtaining the goobermint cheese. I have definitely been watching Velveeta, however, due to its high hydrogenated vinyl content.

Good thing I passed on Velveeta it reminds me of cheez wiz...

GO SILVER GO GOLD GO PALLADIUM GO PLATINUM...

Yes, in that particular order!

I'm just to poor...

damn browser and all them porn ridden spyware sites... :D

AUfool
03-07-2008, 06:50 AM
As platinum dipped well below $2100 tonight, I found my faith being tested. The Eskom spokespeople are rumored to have made promises for 95% power to the mines and there was just a news item about AngloPlat offering its employees a nice cut of the action to hopefully avoid a strike, I assume (While I personally applaud the gesture and believe mineworkers should share in the profits, I doubt this was done with entirely altruistic motives).

These concerns (power shortages and strikes) were definitely part of what set the price of platinum skyrocketing from $1500 in late January. Anyone who bought in, as I did, around that price could not be blamed for having thoughts of selling with a nice but quickly diminishing profit as the dreaded $2000 mark loomed.

Is it over? Will Pt sink back to the $1500 level on these bits of news, dragging Pd down to $380 with her? Are South Africa's problems all behind us now? I don't think so, but thousands of ETF investors who bought in at $2000 and $500 just might. There could be a run for the exits. It's scary. :eek:

To think that we were at $2300 just a couple of nights ago about this time...without hardly a thought of selling (save for the five voters who checked the $2300 SELL NOW button, above). Had I sold there, a nice $700/oz profit was in reach on my $1600 ounces and $1100 on my $1200 buys from late 2006. As of the low point so far tonight, around $2066, that's a big hit! But think of the enthusiastic new PGM ETF buyers that got in at $2200 or $2150!

As I compose this, we've run back to $2125 for the moment, and Pd is back up to $516. I'm going to hang on and see what happens. I tell you now, though, I sure am glad most of my money is in that old, slowpoke (relatively speaking in the context of the past two months)...gold!

Shares for Employees:

http://africa.reuters.com/metals/news/usnBAN740126.html

Power to 95% Promised:

http://www.marketwatch.com/news/story/anglo-american-welcomes-power-boost/story.aspx?guid=%7B74EE195F%2DDEFD%2D4FEE%2D8419%2 DD0751C1C4488%7D&siteid=moren

AUfool
03-07-2008, 07:45 AM
To the five voters who hypothetically sold at $2300...even though we have not yet quite had a $100 down day (NY close to NY close), I have to give you credit for calling a near-term top pretty darn well, fellas!

Now...please tell us where you would buy back in. Was it tonight at $2066 or is the bottom yet to come? Or do you think the brief romance with Pt was a one-night stand that lasted two months but is now over? How cheap would Pt have to get before you bought, I wonder.

Of course, I know this is probably just hypothetical in some of your cases and therefore much easier to pop off an answer than if real metals in significant weights were involved. In other words, I'm skeptical of the idea that all five of you were holders of good-sized platinum hoards and actually sold them off at $2300 but, if you were, would you look to re-enter and, if so, where?

Or would it be time to jump horses, in your opinions?

wrestlingbulls
03-07-2008, 09:46 AM
looks like pt screwed now with it already being down about $200.00. i think its heading back to the 1300-1500 range here in the next week or so. is anyone going to sell or ride this?

AUfool
03-07-2008, 10:05 AM
looks like pt screwed now with it already being down about $200.00. i think its heading back to the 1300-1500 range here in the next week or so. is anyone going to sell or ride this?

I'm still hanging on here myself. I say no way it will go below $1800 mid-term unless we see big downs in all the others. Buyers will show up today to keep us from going below $2000...I hope!

Sure is a rocky ride today, though! Old Mozart must be freaking out big time.

wrestlingbulls
03-07-2008, 10:11 AM
thats true, i bought most of my pt between 1200-1500 and just trying to figure out what a good support dollar amount is. i still think pt can hang in there but i am sure dissapointed in gold and that it did not reach 1 k considering where the dollar and oil is at.

AUfool
03-07-2008, 10:18 AM
It seemed to be supported at $2066 the last couple of heavy dips and I was real sad to see that one go this morning after it held in Europe. Almost sold.

I may live to regret it, but I think I'm going to try gut this out and see how the day ends. What the hell, it's only fiat! My ounces are still nice and heavy and shiny!

As for gold...March 18 for breaking $1000.00...No problemo!

wrestlingbulls
03-07-2008, 10:30 AM
thanks for the info, i think i will just sit back and chill today and not even luck to see where everything is at until the end of next week. i will probably on the other hand go to my coinshop today and buy a 01 gold snake 1 ounce. i just talked to the owner and he will sell it at 995.00

Argiros
03-07-2008, 11:29 AM
Looks like $2300 was the right answer (one I voted both times BTW), as soon as it got near there there was an almost $200 (9%) chunk torn out. I'd call that a "correction"!

BC_Gold_Guy
03-07-2008, 11:41 AM
I only have 1 oz of Pd but I bought it at $560.....

Im not selling for a loss, I'd rather keep my bar for long term.

but if I had 10k in Pd ot Pt, I'd probably sell.

but who knows....I think this 95% power back up promise might be BS. Seems like there is a chance of someone pulling the plug again then sending Pt and Pd back up to the races.

so why not sell now, watch it drop - - then wait till another power shortage happens, then buy in again.

Mozart
03-07-2008, 01:57 PM
Sure is a rocky ride today, though! Old Mozart must be freaking out big time.


I'm wearing adult diaper 24/7 now...


...and sold my brass balls for food.

AUfool
03-07-2008, 02:14 PM
Looks like $2300 was the right answer (one I voted both times BTW), as soon as it got near there there was an almost $200 (9%) chunk torn out. I'd call that a "correction"!

If you voted on this poll, it was definitely after the fact was accomplished. I have noticed that the $2300 voters have grown by at least two since I posted to the original five who were in before it happened.

I'll have to take you on your honor on the first poll, since the results were hidden. I don't mind, though...you seem honorable...

Question is, did you follow your own advice then and sell all of your platinum at $2300 or so?

Argiros
03-07-2008, 02:45 PM
$2,300 was my call from the beginning, the first poll will confirm, though you are certainly correct to say I did it late on this pole. If it makes feel better, or if I did anything improper, I would be happy to retract my vote :) I voted on this poll when I participated in the thread...


Question is, did you follow your own advice then and sell all of your platinum at $2300 or so?

But My advise to sell? You put that in there, not me! I was just ansering your question!! It seems you were putting additional verbage in those choosing the $2300 than in any other catagory. Was that perhaps because you wanted to discourage people from choosing that option?

I think you just did it subconsiously... But be cautious of leading people, leave the poll as the poll, don't put provisions on selected answers!

So, HELL NO I didn't sell!! (though it certainly crossed my mind for a couple of days stright!!! and even offered to sell 1 or 2 oz's in another thread)

Cheers,

AUfool
03-07-2008, 03:46 PM
...So, HELL NO I didn't sell!! (though it certainly crossed my mind for a couple of days stright!!! and even offered to sell 1 or 2 oz's in another thread)

Cheers,

Over in the silver forum you've just told everyone you sold your Pt for silver a few months ago and are now pleased and relieved that the 100/1 ratio is back on track. To me that strongly (if wrongly) implies, suggests and communicates that you are very happy now that platinum has taken a major dive and oh so glad you are not in it, having traded it all for silver way back before Pt began its rise.




It wasn't but just a few weeks ago that I was upset for having traded my Pt for Ag at 100:1. A few months after I did the trade, the SA power crisis happened, and Pt was creaming the 100:1 PSR. Today it is finaly back to 100:1!! I feel alot better now, but with these crazy markets I'm not sure I should be feeling anything...

Certainly you don't owe anyone (especially me) any explanations of course, but your seemingly conflicting posts do make me, for one, a bit curious. I've heard of diversity but saying you sold your Pt for silver in the silver threads and here saying Hell no you didn't sell your Pt...it sounds like, well...you see my point...

I just wouldn't want anyone to get the mistaken idea that you were less than honorable and truthful in your statements or, worse yet, gloating over imaginery after-the-fact retroactive I told ya so transactions, so I thought I should point out to you this potential appearance of discrepancy and thus offer you a chance to clear up any confusion others might have.

For me, personally, I of course would never question your integrity or voracity, knowing that you are a man of your word and to be taken at face value in all of your assertions. :)

Argiros
03-07-2008, 04:10 PM
I see not how my statements are curious. You just did not pay enough attention. I traded my Pt for Ag over the summer (as I state, a few months back). You asked if I had sold any just recently (a few weeks, or one week back). And I said no. How is that hard to understand?? :confused:

Argiros
03-07-2008, 04:11 PM
clarification, tramed SOME pt, not MY (all) Pt for Ag.

Argiros
03-07-2008, 04:14 PM
My exact statement:
It wasn't but just a few weeks ago that I was upset for having traded my Pt for Ag at 100:1. A few months after I did the trade, the SA power crisis happened, and Pt was creaming the 100:1 PSR. Today it is finaly back to 100:1!! I feel alot better now, but with these crazy markets I'm not sure I should be feeling anything...

Mate... its right in fron of you... are you just fishing? :confused:

AUfool
03-07-2008, 04:22 PM
I knew there must be a simple three-post explanation...:D

There should now be no confusion whatsoever. Cheers!

AUfool
03-07-2008, 04:26 PM
clarification, tramed SOME pt, not MY (all) Pt for Ag.

This was the simple clarification needed. It's in front of me and all of us now, so there is no longer any question, certainly not in my mind. Thanks again for clearing that up. :D