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.

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.

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


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