Platinum Primed with Pressure

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One of the first things we learned about the fire truck was how to prime the pump. If the pump wasn’t primed, there would be no pressure, and thus, no delivery of water from tank, thru hose, to fire.

The experience was many years ago, as a volunteer firefighter living in a tiny rural town.

The firehouse, if one could call it that, was located in the alley right behind my house, and was a shed of a plywood building that was maybe – maybe – twenty inches wider than the truck. These days, fire trucks are easy-handlers. Not then. This truck had no automatic or power anything and was hard.to.handle. Because I lived so close to the truck [and got to it quickly/first], I was the driver on many calls.

The alley was narrow, the truck cumbersome. There was no maneuvering it quickly or easily [vis-a-vis, getting in and out of the firehouse]. The only choice was to back the truck in, so at next alarm, it could pull out facing forward.

Every fire call comes with immense pressure to hurry and this time was no different. Hurry! I had grabbed my gear and gotten quickly to the truck. Having followed closely behind, Son handed me jacket thru the window and I was ready to roll.

Forward. S-l-o-w-l-y. Because twenty inches, ten actually, isn’t much. This long truck had to get out of that narrow building and make a hard left, in short order. Slowly forward a bit more, slight turn to the left…oops, the truck nipped the cinder block foundation as I pulled out. Had to chuckle [but truly, it hurt my pride]. On, to the fire I went. Perhaps anti climatic, but end of story [and yes, sometime later, we fixed the cinder block].

I don’t remember the particular fire that call took us to, but I am certain that once on the scene, the first thing we did was prime the pump. Anecdotal it is, to the point of this market-related post, that platinum is primed with pressure.

No stories, just pictures.

First chart is a yearly turn around picture of the Aberdeen Standard Physical Platinum ETF [PPLT].

PPLT daily looks toppy and may be in need of rest. Price got a little over 100 intraday last Friday, then closed just under at 99.91.

Platinum Group Metals [PLG] weekly chart shows a strong move up, on volume, to resistance from a 2014 downtrend line.

Sibayne-Stillwater [SBSW] produces platinum, palladium, rhodium and gold. Daily chart.

Daily chart of Vale SA [VALE] which produces about 5% of global platinum group metals each year.

Weekly chart of GraniteShares Platinum Trust [PLTM].

For those interested in wee ones, look at Wallbridge Mining Company, Nickel Creek Platinum and Eastern Platinum.