platinum to break $1400, page-16

I'd be very surprised if JP Morgan & Co sold all the way down to zero. In fact I'd be astonished.

It's my guess they'll take their fingers off the sell button once they get down to 15m shares or so. With 15.6m remaining I think we're pretty much there. That would reduce their holding to 4.75% and give them plenty of room to manoeuvre.

It looks like they're doing some heavy duty portfolio reallocation and reducing their PLA stake to a more manageable level in the short-term. No doubt they'll come back in later and retake their seat for the mid-term.

That's how I'd play it anyway if I was in their shoes.