One cannot ignore the terrific relative strength in Palladium trading in the 870s and back to its 2011 peak, especially when Platinum, Gold and Silver are well off their 2001 peaks. Supply shortages due to a South African miners strike and strong demand in the auto industry have certainly been catalysts for recent strength. Technical reads project Palladium into the 900s, but I can’t help but feel the 1050 peak from 2000 may very well be challenged. Participation comes via PALL, SWC and very speculative PAL.
ABOUT MARK LEIBOVIT
Mark Leibovit is Chief Market Strategist and Publisher for the Leibovit VR Gold Letter and the author of ‘The Trader’s Book of Volume’ which was published in 2011 by McGraw-Hill. You may have recognized Mark as one of the ten “Elves” on Louis Rukeyser’s Wall Street Week television program where he served as a weekly consultant for 7 years and also as a regular Market Monitor guest for the past 30 years on PBS’ The Nightly Business Report. He is a popular speaker at investment conferences both in the U.S. and Canada and is often seen on PBS, BNN and FOX Business News. TIMER DIGEST Magazine has named him the #1 Gold Timer for the twelve-month period from 8/26/10 to 8/26/11 and the #2 for 2011 He was also named the #1 Intermediate Market Timer for the 10-year period ending in 2007. Mr. Leibovit was a member of the Chicago Board Options Exchange where he became a market maker in several stocks including Newmont Mining. Through the late 1980s he was Technical Research Director for Rodman & Renshaw and subsequently began publishing several financial newsletters. He holds a CIMA and AIF designation and is a member of the Market Technicians Association (MTA) and the CFA Institute.
Our charts are based on data compiled at the market close prior to publication. If you have questions on our current stops or targets, please don’t hesitate to drop us an email at mark.vrtrader@gmail.com. If overall market action necessitates a bulletin, we will send it out as necessary, but I would encourage you to subscribe to the VRtrader Platinum service which often sends out multiple bulletins each day. Please go to www.vrtrader.com for more information. If you would like access the Leibovit Volume Reversal signals daily, subscribe to my ‘Add-on’ Leibovit VR Tool Kit from Metastock (a stock market charting service) or eSignal. Here is an introduction to the eSignal platform with the VR ‘Add-on’ now available: http://youtu.be/ZsmykOx9DT0.
Please note that daily, weekly and monthly charts can show different technical patterns. Sometimes the formation of Positive Leibovit Volume Reversals occurs in the weekly charts and not in the daily charts. Just look for the red ‘VRs’ which represent sellers and the blue ‘VRs’ which represent buyers. The blue line in our metal charts represents the 200 day moving average and the green line represents the 50 day moving average. Keep in mind moving averages are only points of reference, but their existence becomes a self-fulfilling (almost like magnets) among traders.
