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Message: another oversold signal

another oversold signal

posted on Dec 12, 2008 09:40AM

everyone knows that platinum is worth more than gold. except now it isn't. they both sell for $819/oz. this is an example of one of james dines' famous dines-isms. when gold is worth more than platinum, all of the metals tend to go up. this is just one more piece of evidence that the metals and commodities are oversold. there are reasons for platinum's decline; economic slowdown, fear that the auto industry will shrivel up and die. but when platinum no longer commands a premium over gold, it is a sign that everything is selling off without reason. not only is platinum a bargain, but the rest of the metals as well.

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