I saw where the metals prices appeared to be little changed, with silver up a bit, and gold down a bit. As a result, about half my miners were up, and half were down! I would expect volume to be average to lower for them… and I made some portfolio adjustment. I said goodbye to NGD, as I said I would, and I added AKG and SSRI, as they looked to be among the very best, that I had not acquired shares in yet. This metals market appears to be undergoing a true pause that refreshes, and as best I am able to determine, is still in a perfect Bull Market correction phase, and at price support, meaning you can accumulate some shares now, if you are so inclined, or wait, as I did, for the next breakout on volume… I saw it happening on Friday, April 8, and jumped in with both feet. Talk to me charts, what do you have to say to us?
Decliners on low volume, but well-contained within their uptrend are: AG, HL, FSM, RIC, IAG, EXK, ABX, RGLD, GDX, SA and GLD.
Others that rose on low volume, and also show perfect Bull Market form to date: SSRI, CDE, PVG, AUY, PAAS, KGC, SLW, SGDM and SLV.
I note another that rose on average volume: AKG, a new addition today.
The picture is a beautiful one, so far. Prices were little moved, and volume declined by 1/3 of their average, indicating traders are on-board with this, and not bailing.
As I close this evening, things have swapped… Gold’s up a bit since the NY close, and silver’s off a tiny amount. I will likely check back in Friday morning. I had thought there might be confusion or fear in the market, but by the time I examined everything, I realized neither was happening, and that’s a good thing!
A little after 6:00 am EST, Friday morning, and nothing’s changed from last night. Gold’s up a bit, silver’s off a little.
Here’s to your accumulation of real wealth!
Harold F Crowell