It was a quiet day, but I see lots of green again, indicating nearly all my miners rose some more today. IF the metals prices only rose a bit, as it appears, and the miners are up… I’m going to guess, and look to see, if they only rose rather modestly, and on, what I would expect, would be light volume. So, into all the charts I go…
First up, I see one that rose a lot, and on big volume! AG. A major newsletter writer advocated buying this stock today.
Others that rose a bit, and on big volume, like: CDE, FSM, HL, AGI, PAAS and ABX.
Then there are those issues that rose, but on average volume as: IAG, AUY, EXK and SLW.
Six rose on tiny volume: KGC, NGD, SGDM, GDX, SLV and GLD.
I’ve got a decliner, my new purchase, and on average volume: PVG.
One decliner on very light volume: SA
Two fell back on huge volume: RIC and RGLD. I happen to know the same major newsletter writer advocated the selling of RGLD among his readers today.
We’ve got brand new highs with: AG, CDE, IAG, FSM, AUY, HL, AGI, PAAS and ABX. With 9 of our selection making new highs well ahead of the metals themselves, the anticipation is surely that higher metals prices are also ahead… and, for sure, the price charts for the metals themselves lend support to that belief. We’re in a good place right now… the bull is young. It’s consolidating its most recent gains, and the belief is that higher prices are out in front of us.
9:10 am EST. Metals are giving back some. I’ll check at the close to see how price support holds, and whether any real concern is coming down upon us. At this point, miners would be close down, and I would expect volume to be at least average to heavy… but, the close is a long way off.
Here’s to your accumulation of real wealth!
Harold F Crowell