My personal portfolio: Platinum futures long position increased
David Fuller's view Having
doubled my silver (weekly & daily)
position on Monday, I did the same with my platinum (weekly
& daily) holding
today, although both these positions are considerably smaller than my gold longs
(weekly & daily).
This morning, I paid $1566.6 for another long in April platinum , including
spread-bet dealing costs. The rebounds in precious metals on Monday and today
have been encouraging, although platinum and the others really need to retest
and then break above last year's highs to significantly reinstate my bullish
hypothesis for the medium term. I may have to be patient as we have only just
entered the 17th month of their lengthy medium-term correction followed by support
building phase prior to resuming the overall upward trends. Following previous
upward accelerations such as we have seen for gold in 2011, these pauses have
averaged approximately 21-months.