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About a year ago, Baby Bear told everyone here that instead of worrying about buying silver at the exactly “right” price, maybe just buy 10% of your intended position every day for a couple of weeks, be done with it, and forget about it. That was sage advice. The “set it and forget it” mentality has worked out well for precious metals bulls.

I’ve been trumpeting palladium (by way of PALL) back when it was about 25% cheaper. I have NOT taken the above advice, instead nibbling here and there on profits along the way. I’d have been much better off just holding the dang thing. But let’s set that aside and focus on palladium itself.

First off, here’s a long-term percentage change chart of silver (blue) versus palladium (black).
 

As you can plainly see, silver has massively outperformed palladium.

Below, over a somewhat different time period, is a percentage change chart of palladium (again, in black) versus in blue gold.
 

In this instance, you can see how palladium was a superstar for years, then it plunged and roughly matched gold’s own performance.

Over the past year or so, while silver and gold have absolutely shined, palladium has clumsily tagged along. Silver, for example, is at this very moment at the highest nominal price in human history. I own a lot of physical silver (which, unlike my stupidity mentioned above, I didn’t frenetically buy and sell), and I think it’s heading plenty higher.

Palladium, however, is less than HALF its peak price (!!!!!) More importantly, the PATTERN I’ve been watching with palladium, both in “raw” form as well as via ratio charts, has been screaming “buy and hold” for the past year. This is simply a terrific, rounded bottom, and I’ve written literally dozens of posts to this effect.
 

What prompted today’s post is that the price has finally pushed its way out of a range it’s been trapped within for weeks. The next big challenge is going to be to seal and exceed the $144 price point. If and when we can do that – -and I think it’s very likely to be soon – – I believe we’re “off to the races” with PALL.
 

This morning, for the umpteenth time, I bought PALL in size. I’ve set a stop at $129 (again, when I first started yacking about PALL, it was $93) and I’ll try super-duper hard to keep my fingers off the Sell button so long as it stays above that price!

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