The metals moved lower ever so slightly today, yet a decent number of our miners still rose in price… that should likely be construed as further bullish market action. My take, before I chart everything and take a look, is that with metals off a bit, the stocks should have pretty much all been down some, and the volume should be light, and few any more than average. So, I’ll chart them now, and see how they read…
Those that rose, and on lighter volume, were: SSRI which also closed at a new high, SLW and RGLD.
And those that declined, also on very light volume: AG, AKG, AUY, RIC, HL, CDE, IAG, KGC, ABX, PAAS, GDX, SA, SLV and GLD.
There’s risers on average volume in: PVG and FSM.
SGDM declined a bit, but on rather large volume.
That the 2 royalty firms, SLW and RGLD rose makes perfect sense as the higher metals prices are going to result in greater earnings and dividend payouts to shareholders. And, that the vast majority declined only a little bit, and on very light volume further enhances the idea that this is a new bull market in the metals, not yet 6 months old, and likely to have a much longer way to go… that few are yet aware of it, and very few have bought their positions yet. This is still likely to get very good going forward!
I have some exciting new news to share with my next post! Come back again soon.
Here’s to your accumulation of real wealth!
Harold F Crowell