im really basing it on the fact that platinum seems to be moving higher, while AMS has just been standing still. My hope is it will break up, after a really good rally i might short it, or i'll be sitting with a loss if it moves the other way.
AMS breached it's support base on Friday but closed above. The USD Index is just above resistance and threatening an upside breakout, not good for commodity prices if it happens. AU has a possible double top, while PT doesn't have much other than a near 0.25 fibo retracement that's met resistance from the old support base that was formed from around May 06 to Jan 07. I'm not sure I'd bargain on an upside breakout right now. Yep, maybe a cynical breakout because so many people are losing their jobs there right now and that's savings, right? Except, it's still the same management running the place, the guys who didn't prepare for lean times.
Hard for me to understand how CSSS rated mining analyst maintains AMS underperform (ok with that) but with a TP of R52/share - ie hurtle down a mineshaft from R384 now?? And off a high of R1480 on 20 May 2008 - WTF?