Now back to work.
With automobile production shrinking around the world there probably won't be as much demand for catalytic converters as there might have been. Which leads us to what looks like a triple top in palladium futures:
Those are March futures. June futures are almost the same price. We didn't do anything with them on the way up, beyond our usual slack-jawed grins which is our default when we observe major moves, moving without our participation. Just watching, just waiting, like the panther, for the moment to pounce, biding our time, like the panther waiting....just a little bit closer and....
Sorry. Where was I?
Here with additional commentary is Patty Smyth with some guys who look more Miami Vice than Miami Vice, more Wham! than Wham!
March futures $2335.20 -15.80
June futures $2335.30 -11.90
September's $2300.80 -35.30 so a bit o'backwardation
