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View Full Version : Patinum falling -$99 dollar today, why ?



Frank
03-17-2008, 07:14 AM
Just wondering why Platinumgot -$99 today ? The up trend is over ? Shall I offload now or it will rebound ? Anyone any idea ?

Heruur
03-17-2008, 07:24 AM
Pt is an industrial metal, if the market's crash there will not be a strong demand for it. It may rebound, but not likely, Expect a minor correction today in POG POS etc if there is , swap. DYODD

refrep
03-17-2008, 04:14 PM
Just wondering why Platinumgot -$99 today ? The up trend is over ? Shall I offload now or it will rebound ? Anyone any idea ?

The Market as a whole is doing some very wierd things today. I would suspect that Platinum is going to rebound here very soon. Possibly tomorrow with the Feds announcement. Who knows what other surprises will be in the News tomorrow. Platinum is industrial, however its, as you know, a VERY PM. Not much of it around... You'll do well hanging on to it in my opinion.

Frank
03-17-2008, 05:09 PM
Thanks - I also think so. Actually I own Platinum againsts YEN which is Tocom as I am in Japan, Yen is high against USD and it also kills me. I still have my profit in Platinum except it has been halved now.

justabeginner
03-17-2008, 07:33 PM
Gotta remember Pt is at least partially inflated due to social/production issues in Africa whereas gold and silver are not. When those resolve, Pt is gonna dive. Not bottom out, but I think the 1600.00-1700.00 range is reasonable to assume. I want to buy some but am very afraid to buy at the current price. Sold my only 2 1/4 ouncers for 650.00 each at the peak and I'm glad I did now.

kobancat
03-17-2008, 08:36 PM
Platinum dollar will be sought after haven to park trillions coming out of Japan.

why would the japanese go for platinum instead of gold?

Mozart
03-18-2008, 06:44 AM
Platinum dollar will be sought after haven to park trillions coming out of Japan.


Hey GG,


Ya got something specific--like a url--to back this up?

Heruur
03-18-2008, 04:11 PM
The japanese have lived in a society that outlawed gold ownershipo for several decades, so they went to the next best thing... Platinum. The japanese do view platinum as a source of wealth, but expect a big time crash in poPt before they really start buying it though.

Frank
03-18-2008, 04:30 PM
Just hope Platinum would not crash further, will it ? It has gone down too much. Wonder if it is time to re-load more.

Mozart
03-18-2008, 04:53 PM
Just hope Platinum would not crash further, will it ? It has gone down too much. Wonder if it is time to re-load more.


FWIW, my psychic friend, on March 10th, said that Pt would have a correction period of about three weeks, correcting down to the low $1,800's levels, then zooming upward in a several-week-long rally past $3,000/oz.


As of today, she's right so far; the three-week period ends around March 31st, so we'll see.


My friend does have a long track record of accuracy in her intuitive hits, but this is the first time that she's waded into the PM markets, so we'll see how it pans out.


The start of April seems to coincide with the period of new futures contract in TOCOM; with a new round of mandatory load-shedding in the shaky SA power markets and with a number of other factors that would bode well for the price of Pt.


And understand that her intuitive "hits" are just one set of probabilities out of many, many probabilities that surround the prices of Pt; I had asked her to pick out the strongest set of probabilities and this is what she picked out at that time. Halfway through this three-week period, her choice of one set of probabilities is holding, so far.


So, if the price of Pt goes down to, say, the low $1,900's levels, that may be close enough to the bottom to load up on more Pt, if you want.


[Post-edit...my psychic friend corrected me and said that she said "down to the low $,1800s, not the high $1,800"s; I misunderstood her and my guess was not lower than $1,850.]

.

Heruur
03-18-2008, 11:12 PM
I say wait and see, but have dry powder and be ready to pull the trigger on it when it gets close to $1800-ish an ounce, really don't see it correcting below that on technicals unless there is a major stockmarket crash followed by deflation.

If that happens then it's gold and silver you'll want- NOT platinum, basically the stuff the average joe can understand has value without thinking too much.

Mozart
03-18-2008, 11:24 PM
I say wait and see, but have dry powder and be ready to pull the trigger on it when it gets close to $1800-ish an ounce,


Yes, good plan.




really don't see it correcting below that on technicals unless there is a major stockmarket crash followed by deflation.

If that happens then it's gold and silver you'll want- NOT platinum, basically the stuff the average joe can understand has value without thinking too much.


Yes, I don't see it correcting below $1,850 in any scenario.


There won't be a major stock market crash at all...yet--that's coming later at the end of this year or early next year. No way will they allow a major stock market crash happen in an election year. Too much risk for serious unrest by the J6P masses, though it does not matter at all who's elected, now that they have who they want on each side.


The stock market crash will coincide with a major fall of the dollar, a major retrenchment of the American military from all over the world, collapsing US banks and corporations (not all, just some big ones), etc--all that won't happen now, but very likely would happen late this year or early next year, as those times coincide very neatly with the major Fibonacci time cycles that have the late 2008/early 2009 periods of time as a major "bifurcation point", during which major, life-changing things happen that changes reality for everyone.


And I do agree that gold/silver are the way to go; I'm stuck with Pt until it goes high enough for me to exit and get the hell back over to Ag.

Killver
03-19-2008, 08:12 AM
Just wondering why Platinumgot -$99 today ? The up trend is over ? Shall I offload now or it will rebound ? Anyone any idea ?

Can't say for certain, but I've seen silver drop pretty low a couple of times. If you sell, you lock in the loss, but suffer no more losses... I still say that PMs are better than dollars. All the PMs are down, and euros and yen are going up like a rocket recently. It depends on why Pt was so high originally- if it was value, like all the PMs, then it should recover at least partially. If it was due to the power plant failure there which is now over for now, then it's not as certain that it will totally recover. PMs are full of surprises and after a while I decided to wait. A short while ago, silver was over $21 and headed up fast... I believe this will happen again.

Mozart
03-19-2008, 10:23 AM
If it was due to the power plant failure there which is now over for now, then it's not as certain that it will totally recover.

I suggest that you do your homework before making false assumptions that have no basis in the reality of the SA power situation. I have provided a number of links in the "Skinny on SA" thread, so go there, click on those links and get educated about the SA crisis that is far from over, man. It's not just one "power plant failure", it's a systemic problem on many levels in SA. Click on those links and learn.


Platinum is close to its bottom; it'll go sideways for a while longer, perhaps all the way to the end of this month; it may finally take off on a nice bull run, come the first of April or so. I hope that it does and the various conditions/indications are that it would.


And Pt will not "totally recover" from the shortage of Pt that still exists today and will not be covered for several years at the least.

meatball
03-20-2008, 02:02 PM
Mozart - Thanks for your psychic's intuitions on the platinum situation. I can appreciate that. .. These price drops are a bit scarey.

I am a total novice in this whole investment arena as well as a newbie in this forum. I never even heard of the Fibonacci cylce until reading your post here. I was wondering if you could direct me to a link where a novice such as myself might be introduced to an understanding of that? ..