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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 375.93-1.8%Nov 14 4:00 PM EST
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To: TobagoJack who wrote (4092)2/8/2006 1:26:31 AM
From: Muthusamy SELVARAJU  Read Replies (1) of 217802
 
TJ,

I keep thinking about the following bullish factors for PGM prices (and all commodities in general):
- the 'truths' behind GWB's budget proposals are being unravelled on the public domain as we write, and the impacts (and assumptions behind) the proposed embedded budget cuts on most American citizens don't seem to be pretty or very realistic;
- The Iran showdown is not likely to get prettier in the weeks to come;
- the USD is already perched for perfection, at a time when the old 'bad' fundamentals are not getting any better;
- I've read today that the PGM price collapse yesterday was partly motivated by window dressing efforts by the big boys to make the real ugly girl (record USTreasury auctions) look pretty to all those central banks thinking twice about loading up on more of these Tbills;
- bad news on oil demand is mostly out, i.e mild US winter, plentiful supplies, etc while OPEC and non-OPEC countries are so flush with cash they don't need more of it. In fact, they'd be only too motivated to cut production to keep prices from falling further from yesterday's levels (to c. <$60 pb); and last but not least,
- more recent 'heavy duty' entrants into the world stage, i.e. the hedge funds (including Goldman Sachs) seem to have already driven PGM stocks down to price levels not seen since Oct/Nov 2005 just yesterday.
But like you suggest, I'll watch and wait....HK is still some 4 hours away for me, and after all, it is the best time of year here to motivate me to stay put here!
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