Tuesday, June 24, 2014

Gartman on Platnium and South African miners strike

We were often queried in the course of the past several weeks why it was that we were not involved in the bull rush in both platinum and palladium and our stock response was that we’d no idea when the strike [South African platinum miners strike]  would end but we knew that eventually it would and that when it ended platinum and palladium prices would collapse. 

Never, however, did we think that platinum would fall $50 or more in the course of several hours; we simply knew the downside would be swift and violent. It was. It may get worse.