Ka-CHING!

THIS was a good day! The metals rose well, maybe a new breakout… we’ll see. If they did, and the shares did real well, too… we will want to see that they broke out on VOLUME! So, let’s go the charts…

Those that did indeed breakout on big volume are the following: AGI, FSM, KGC, AUY, IAG, PAAS, RIC, HL, ABX, AG, CDE, AU, EXK, SGDM, SLW, GDX, RGLD, SLV and GLD.

Others rose, but on low or average volume, like: NGD and SA.

Those that closed at a new high were: AGI, FSM, KGC, AUY, IAG, PAAS, RIC, HL, ABX, AG, CDE, AU, NGD, EXK, SGDM, SLW, GDX, RGLD, SLV and GLD… or, all but 1 of them; SA.

Since this run is just getting off into new highs, and on big volume, it may have legs to run quite a ways yet. We have no way of knowing, of course, but since the $USD is breaking down into new low territory, under the 94 level, this is what is kicking off this new run in the metals. We’re aboard, and going for this ride for as far as it will take us.

There’s reason to believe this is both a new Bull Market in precious metals, and despite the progress it has made already, it is believed that it is still quite young, and that there is a lot more money to flow this way yet, and push prices higher.

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As I recheck yesterday’s price action, gold rose $26 an oz, and silver $.29. That’s pretty big, but the $USD took a pretty big spill!

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IF you haven’t bought yet… There’s still time, this ship appears to be pulling away from the dock! Gold is up another $7.90 to $1,300, as I type at about 6:30 am EST. If this holds, or rises more today, there’s going to be a rush into shares. I’d likely make this a ‘Last Call’ for now, until prices were to settle back some!

Here’s to the accumulation of real wealth!
Harold F Crowell

Was It Today?!?!?

I see that the metals had a very good day. If it is was a really good day, the miners will have broken out to the upside on volume. So, lets’ go to the charts to see what they are going to say. If it was the kind of day for the metals that I think it was, then I would expect to see our miners to have risen well, on expanding volume…

Those that did in fact rise well on expanding volume were: KGC, FSM, HL, PAAS, AGI, AG, IAG, RIC, CDE, EXK, SA, SGDM, SLW, GDX, RGLD, SLV and GLD.

Others that rose, but on tepid volume were: AUY, ABX and AU.

We even have a decliner on fairly big volume: NGD.

Those making new price highs were: KGC, FSM, HL, PAAS, AGI, AG, IAG, AUY, CDE, EXK, ABX, SGDM, SLW, GDX, RGLD and SLV. That’s 16 of the 21 issues I am tracking!

Since the vast majority of issues did rise on expanding volume and a goodly number attained unto new price highs, we have a confirmation that this may well be the start of another leg up in price for the metals and their mining shares. Let’s see if tomorrow should bring us more of the same. Oftentimes, a new breakout in price will bring in new buyers. As early as we actually are in this new precious metals Bull Market, that is what I would think we could expect to see next… more Friday morning.

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Gold’s up another $9.60 overnight, as of about 8:00 am EST… if it’s breaking out, look for our miners to commence to scream on big volume! It is buyable, if you haven’t gotten yours yet! Just calculated our average gain since getting in Friday, April 8th… an average of 25.38% per holding in 3 weeks time!!!

Here’s to the accumulation of real wealth!
Harold F Crowell

It Wasn’t Today

I was wondering if we might launch today, Wednesday. It didn’t happen. Metals rose a bit, and so did most of our miners, but we didn’t breakout today. That being the case, I would expect it was more consolidation action, where price moved little, and volume would not be extraordinary, but perhaps be no more than around the average… so, let me see what the charts are looking like.

First, are those that moved up little in price, on low to average, or only slightly more than average volume, as KGC, FSM, AGI, NGD, CDE, ABX, RGLD, SGDM, SLW, AU, GDX and GLD.

Others moved up on expanding volume, like HL, AG, EXK and SLV.

Even those that declined a bit, but on insignificant volume, like PAAS, AUY, IAG, RIC and SA.

That the vast majority made small price moves, up or down, on no extraordinary volume, confirms the diagnosis that today was another consolidation day… even though some did close at new highs.

When the metals make a significant price move, the miners are going to breakout on big volume, but for now, they are consolidating the last big move.

Will the metals prices breakdown? Only if the $USD should make a significant move up. I’ll get back with a Thursday morning update later…

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If it wasn’t Wednesday, it sure might be today… Gold is up more than $11.00 overnight, as of almost 7 am EST. If this holds, it’s likely to be one very profitable day!

Here’s to the accumulation of real wealth!
Harold F Crowell

Do We Lift Again from Here?

Gold rose better than $5 today, and silver some $.14. No great amount for either, but was it enough to say that the correction is over? If so, we would expect to see an expansion in volume in the advance in the price of our mining shares. If that’s not there, then this lift today should only be considered as tentative. So, let’s look at them all, and see what there is to learn…

Well, I see those that rose today on low volume, like: KGC, FSM, AG, PAAS, IAG, AUY, CDE, NGD, SA, RGLD, RIC, AGI, ABX, SGDM, SLW, GDX, SLV and GLD.

Others rose on expanding volume, as HL and EXK did.

We had one to decline, as AU did.

What this would be saying to me is that rather than a correction, where prices go into a period of decline, it’s beginning to look more like a consolidation, where prices tend to meander in more of a sideways pattern.

What is of keenest interest at this point is the number that are either very close to their highs, or even did close at a new high today. Those that have done that are: KGC, FSM, HL, AG, PAAS, IAG, AUY, RGLD and ABX. This being the case, even though the metals themselves are further from breaking out… I would think prices would hold and wait for the metals to catch up… for if the metals breakout, you can be sure the miners will experience a whole ‘nother pop to the upside! Look for that, it could be coming soon!

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Metals are up again this morning, gold by $4, and silver by $.22. Will this be the day metals rise that launches the mining shares next lift? Look for it today. If it happens, we’ll see mining shares launch on volume. If that is happening, you can be a buyer!

Here’s to the accumulation of real wealth!
Harold F Crowell

Marking Time

Monday was a real nothing sort of day. The metals rose a bit, but the mining shares, for the most part, actually fell back some. Not any amount to be concerned with. That being the day that it was, what we would want to see in the charts is little price movement, and on little volume. So, what will we find?

Those that moved a little downward, and on small volume were: PAAS, FSM, KGC, AGI, IAG, AUY, ABX, SA, AU, CDE, SGDM, SLW, EXK, GDX and RGLD,

Some even rose up a bit on low volume, like: NGD, RIC, HL, AG, SLV and GLD.

There was nothing to indicate that there is any problem, and the market is digesting its last big gain normally, so far. I sold Harmony Gold, HMY and replaced it with IAMGOLD, symbol IAG.

As of about 8:15 am EST, the metals are off a bit, by some $5.70. Expect some selling in our miners today, if nothing improves.

Here’s to the accumulation of real wealth!
Harold F Crowell

Don’t Miss This!

I wondered what our share prices would look like, after the metals prices took such a drubbing on Friday. I was pleasantly surprised. Though they declined, they were not hurt near so bad as I had feared. That, in itself, is another sign of a probable Bull Market, where the price of the metal can take such a hit, but that the share prices don’t look too much the worse for it.

If it is, indeed, a bull market, then a better buying opportunity will be presenting itself. What do the individual stock charts look like for the gold and silver companies I’m holding?

Since the metals and shares declined, we want issues to have declined on either average, or light volume as these did: FSM, PAAS, KGC, AUY, NGD, AGI, ABX, SLW, SGDM, AU, CDE, RIC, RGLD and GLD.

And, we’d rather not have any to decline on big volume, but these did: EXK, SA, HL, AG, GDX and SLV.

That the majority got off easily, tends to say that the back-up in price, or correction, as they are called, is orderly, and nothing untoward would appear to be happening. It helps to confirm that a Bull Market is indeed in place. It could last a while, as I reported that the Commitment of Traders report indicated that too much bullishness among futures traders had arisen in the metals just since they last bottomed. That could take awhile to work off. I can wait.

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And, as the spot price of the metals is up some $4 and change Monday morning before the open, we can probably expect the mining shares to open somewhat higher as well.

Here’s to the accumulation of real wealth!
Harold F Crowell

Strange Goin’s On!

I saw it, and then I read about it. Noted traders are saying that market manipulations in the form of some very large orders are blindsiding the markets left and right. There were huge metals moves up overnight last night, and they all got taken out early today, and closed higher by only small amounts. I’m not going to let them bother me. I reported how that the $USD was flirting with its 94 support level, and hope was that it would be taken out… but, it held, and rose to 94.60. That took the air out of the sails for now. And, then there’s the COT report of more than 200,000 longs in the gold futures contracts, which usually is a signal of too much bullishness.

So, what do the miner’s charts say? First, those that rose a bit on average volume: FSM, SA, AGI, KGC and CDE.

Others that gained slightly on big volume: PAAS, HL, EXK, AUY, NGD, AG, SLW, ABX, SLV and GLD.

And, then, a few that rose on light volume: SGDM, AU, GDX and RGLD.

A couple declined on average volume, as RIC and HMY did. And, HMY is getting sold, and not appearing here anymore.

Rising a bit on average, or even light volume, is a good thing. To rise a bit on huge volume is not. The number that did each is about even, and prices are still looking bullish.

The metals are off a bit tonite as I write, so a period of quietness may ensue, but this might open up opportunity to add some more.

Friday marks 2 weeks into this endeavor… the preliminary results have been gratifying so far. We’ve selected good issues, except for HMY.

Here’s to the accumulation of serious wealth!
Harold F Crowell

Intraday Reversal

Ah, we were doing well, but somewhere along the day, things reversed. I’ll do my best to look into that, to learn what the reason might have been, and whether it will matter in the long run or not. My reason for getting involved is not for trading purposes so much as it is that I believe a new Bull Market has launched, and that there are serious fundamental matters that I believe will propel metals much higher further on out, and I want to be properly poised and positioned for that seeming eventuality.

So, let’s examine the chart of each, and determine what it is that they might be saying.

First, we see those that closed down on big volume, like: FSM, PAAS, EXK, NGD, HL, SA, KGC, AUY, AG, AGI, CDE, ABX, GDX and HMY

There are those that rose today on big volume, like: SLW and SLV

Some even declined on light volume, like: RIC, AU, SGDM, RGLD and GLD

This may be traders taking profits, or there may have been some important bit of news. Later, as I seek to find out what the matter was, I’ll get back and put it here.

I haven’t checked yet, but stocks may have done the same thing today… more, as I learn of it.

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And, indeed both stocks and the metals turned south at the very same moment today… 3:04 pm EST. I’m sure I’ll read of why, as I look about more. One piece of intelligence we need to know is that the Commitment of Traders has gone long more than 200,000 contracts on gold, and when that has happened in the past, price has at least paused for a few months. So, we might not expect to see big gains from here for awhile. Another matter of real interest is the chart of $USD. That’s an index of the US Dollar. In times past, when it got down to its current 94 level, it has rebounded or strengthened, and that has been a damper on both stocks and metals prices. I’ll be checking that, to see if it holds, or gets broken.

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And, the news from yesterday was that, in fact, the dollar had bounded off of a 94 support level, taking stocks and metals down, but that has reversed overnight, and the metals are up $14.60 to $1,258.90, as I type at 7:15 am EST. This will result in another big day for our gold stocks, if it holds, or rises even further!

Here’s to the accumulation of real wealth!
Harold F Crowell

It Was Indeed a Good Day!

Only got into these a week and a half ago… wasn’t a minute too soon, that’s for sure!

If the correction ended, before I even chart them this evening, there should be a lot of big moves, on a lot of big volume… so, let’s see.

Yup! Those that rose on big volume, and perhaps to new highs, as well: FSM, HL, PAAS, AUY, EXK, AG, NGD, AGI, RIC, CDE, SLW, GDX and GLD.

Others that rose on light volume: SA, KGC, RGLD, AU, SGDM, ABX and HMY.

As one could expect, if a correction ends, most will rise a good bit, on big volume, and that is just what happened. Of the above 20 issues, besides many rising on big volume, 15 of them attained unto new highs, too! That certainly confirms a breakout from a brief correction, and is wildly bullish action. You might think you’re too late… it’s still early. Very few are on to this newly emerging bull market in the metals, and as other assets, particularly stocks, should falter, as they must, there might be all new interest brought to bear on the precious metals.

I’m going to add SLV alongside GLD, as the two metals are not moving entirely in tandem with complete correlation. Also, I will be removing HMY, as it is just not catching fire, and I must have misidentifed it as one of the ‘good ones’ when I first dug these out.

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If what I see with gold as of 9:30 pm EST holds up overnight, we’re going to get more stock price rise in our favorite miners again tomorrow!

Here’s to our accumulation of real wealth!
Harold F Crowell

We May Launch Today!

Gold is up $22 this morning, as I type. The correction will almost certainly be over, and this day will likely result in a new launch in our mining shares. Only if the price should somehow fall back intraday, will this scenario not play out.

So, let’s get right into them, and how they did yesterday…

Those that rose in price, but on low volume were: NGD, PAAS, AUY, FSM, HL, AGI, SA, ABX, EXK, KGC, CDE, SGDM and RGLD

Some declined, but on lessening volume like: RIC, AU, HMY, SLW, GDX and GLD.

Then, there’s those that rose on expanding volume as AG did.

Gold closed lower, while most miners rose on weak volume. Most are eking out a very shallow dip of a correcting pattern of no more than even one week’s duration. Judging by gold’s rise overnight, this correction will likely end today, and a new leg upward will most likely commence. We’ll see after the end of the day.

I only bought in on Friday 4/8… not one minute too soon! It’s still early. You may want to get in while the getting’s still good. I recommend mining ETF, SGDM… mining royalty stocks, RGLD and SLW… and individual miners AUY, which closed at a new high yesterday, and SA. But, really, you’ll do well in nearly all, but I’m starting to look askance at HMY, and may sell it today, to acquire another.

Here’s to the acquisition of real wealth!
Harold F Crowell