The metals hung in there Friday, as did their mining shares. We saw silver close up… just a little bit. And, we saw gold close down… just a little bit. But, the miners, they mostly closed to the upside, which tells me there is still a lot of bullish anticipation out there. I’ll look at each chart for any ‘message’ they might contain.

We first see some that closed off a bit on typical volume, like: AG, NGD and GLD.

And, that rare decliner that fell on low volume, like: AUY and SA.

I’ve got two that declined on large volume: IAG and PAAS,

Since most rose, what was their volume like? I see those that rose on low volume, as: CDE, PVG, HL, KGC, ABX, SGDM, GDX, SLW, RGLD and SLV.

But others made their up move on big volume, like: RIC, AGI, FSM and EXK.

Can anything be derived from this? Since the majority, by far, rose in price, on either low or in 4 instances, big volume: We have to believe that considerable bullish conviction still exists. Silver, SLV, rose on light volume, and gold, GLD declined on average volume. I think I see conviction among traders and investors in this sector.

I may soon sell NGD, as it is weakest of my mining shares, and I have other strong prospects in the likes of SSRI and MVG. I’ll give some more consideration first, make my decision, then let you know.

__________________

Dollar is rising, and metals are falling… gold, only a little bit, but silver a considerable bit more. This, as of 6:30 am EST. It may be a down day in the metals.

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

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