"My forgotten Precious!" - Part III

& The Big Picture

Since we first wrote about Platinum in “My forgotten Precious! - Part 1”, Platinum is up nearly +20%, our Platinum Calls are up 6x and rocketed to planet Mars ahead of Elon and our main equity play, Anglo American, rallied +50% thanks to the BHP bid. (We even made a little money hedging Platinum with Gold as a short-term trade, which turned out ok in “My forgotten Precious!” - Part Deux).

We give thanks.

Time for an update.

Here’s the short-term picture: The more technically-oriented among you will note that Platinum formed a “Golden Cross” towards the end of April (i.e. the 50-daily-moving-average crossed the 200-daily-moving-average from below). Though Platinum is only trading at 40% of the price of Gold, it’s actually more rare and historically has been more valuable. So calling this setup a “Golden Cross” sounds bullish but there must be something more bullish than that…

Here’s the long-term picture: This chart shows the weekly-moving averages. If the 50-weekly-moving-average (red line) crosses the 200-weekly-moving average (yellow line) from below, should we call it the “Platinum Cross”? I want to trademark that. If any of my readers is a patent attorney, please ping me!

Anyway, the reason for this post is that there is now a key event worth highlighting…