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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer -- Ignore unavailable to you. Want to Upgrade?

To: Elizabeth Andrews who wrote (862)	1/22/2001 8:17:19 AM
From: PHILLIP FLOTOW	Respond to of 976

To the Editor: Thank you very much for Cheryl Strauss Einhorn's insightful column on palladium (Commodities Corner, January 15). I have been active in the precious-metals markets for about 10 years and currently trade platinum and palladium for Sovereign Bank in Providence. One point: In addition to Stillwater, which the column describes as "the only significant producer of palladium and platinum outside South Africa and Russia," there's another company worth a look. It's North American Palladium, which trades on the Amex under the ticker symbol PAL and on the Toronto under PDL. The company currently produces approximately 100,000 ounces annually. Production is estimated at 170,000 ounces for 2001 and 250,000 for 2002. North American Palladium has returned 26% for the year 2001 already (ranking it fifth among Toronto Stock Exchange companies, year to date) and its stock is up about 200% in the past year. MICHAEL F. SHEEHAN Vice President Precious Metals Trading Sovereign Bank New England Providence PHIL

To: Elizabeth Andrews who wrote (862)	1/23/2001 11:04:05 AM
From: David Graham	Read Replies (1) \| Respond to of 976

Elizabeth, I agree with your analysis regarding the low volume pullbacks. The stock is still in an uptrend stretching back to the late Oct lows. However, another technical indicator (MACD) gives me pause. The last price spike was not matched by a new high in the MACD (relative to the peak at the end of August), and that is often a bearish indicator. I'm cautious and sold half my PDL last week. It's still my favorite producing PGM but I'm nervous. BTW - nice call on MSK over the last couple of months, you helped me see the light and I got out with a decent profit.