Palladium price is bouncing to resistance
In a previous post on March 4 it was noted that I’d sold half of my Palladium position. I subsequently sold the rest while FOMO’ing that I could miss more upside. Well, I didn’t. I missed massive downside as the war noise came out of it. Market psych, you gotta love it.
I consider Pd to be part of the pro-cyclical, pro-inflation risk ‘on’ trades and so this position is not aligned with my favored ultimate view for 2022, which is not that. I added a position in PALL back yesterday but am mindful of this resistance point as the goons meet and ready their policy decision. Other items are doing similar things, pre-FOMC.
It’ll be interesting and sadly (or maybe gladly), I am going to miss it because I have a commitment today at the time the eggheads announce.
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