Friday, December 08, 2006

Palladium Getting Ready to Breakout


Comments: I have a feeling that Palladium is soon going to break out to the upside from the symmetric triangle pattern. It's definitely acting more bullishly than platinum ever since platinum's huge recent upspike.

Comments: A possible play on the palladium breakout would be PAL (North American Palladium Ltd.). This company is frequently featured on the list of most lowly rated companies and was just given an "underperform" reiteration by HSBX a couple of days ago. Also, PAL announced at the end of last month that its CFO will be leaving the company. So you know that the company has some issues. However, it can get very hot sometimes, such as when palladium surges, which I think it has a chance of doing quite soon.

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