Tom, The price of palladium recently passed the price of gold per ounce, the first time it ever has. Russia, the largest exporter
of palladium has exported 0 palladium this year, because export licenses have been held up in the Russian government (some Russian scamsters are making a bundle). Palladium is a major component in many passive components, an in particular those used in the auto sector. As a result VSH and KMET have gotten killed this year. AVX, a competitor, came out with a nickel plated component, as a substitute for the palldium, and AVX has fared a bit better this year. Regarding the volume, I'm afraid we're in for a horrible earnings report, and the shorts have gotten involved here. There will be more charges and writedowns this quarter, and I expect a huge move later in the year and perhaps early next year....I'm loyal to the company, and its vision is sound. |
