Global Platinum & Gold (GPGI) Message Board

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Gold/Mining/Energy : Global Platinum & Gold (GPGI)

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To: Jafco who wrote (8603)	11/23/1998 9:16:00 PM
From: JACK R. SMITH JR.	Read Replies (2) of 14226

Jafco, Sorry to take so long to respond. The runup was short lived and I expected that. I see support for platinum (first support) just below here (below 350) and better support below 325 and above 300. Big declining wedge and the price will bounce within the wedge or declining triangle until it breaks out and then one might expect to see some real action as price breaks above the declinging triangle. Palladium is pretty much in the same formation, but could be more explosive on breakout, depending on what Our Russian friends do! Precious metals and commodities are pretty much on the sidlines here, watching the equities attempt new highs. DJ has done it, but has not been confirmed by broader averages. Could be that they will confirm, but that remains to be seen. Given the broader situation, I would tend to be very careful here and perhaps plan my exit. Certainly exciting times, certainly not boring, and I hate that!! Not bored, Jack!!

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