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