I only learned earlier today, as I posted just before this one, that there is a good evidence that we are still very early in this Bull Market in gold and silver. It’s worth backing up one post and reading it.

Metals were up again today, after they indicated they would not be. With them ahead a decent amount, and almost entirely green up and down my trading account of miners; my take would be, depending upon when the prices turned up, that it was a bit of a surprise, and that the volume should likely be around average, to better than average… again, since the rise in the metals prices seemed to have come on somewhat unexpectedly. I then go to the charts to see if they will tell me what happened, and possibly even what they might be expecting…

First up, I have issues that rose on less than average volume, like: SSRI which closed at its 5th new high in a row! AG which closed at a new high, PVG at a new high, AUY at a new high, KGC, ABX, GDX at a new high, SLW and SA.

These managed to rise on expanding volume, greater than average: AKG which made its 4th recent new high. RIC at a new high, HL at a new high, FSM, IAG, SGDM at a new high, RGLD at a new high for the 4th day in a row. SLV and GLD.

Even decliners on pretty big volume, but the loss was tiny, as with: CDE and PAAS.

The best interpretation would seem to be, that since there wasn’t any overwhelming number of breakouts into new high territory on what would be truly big volume… with half rising on less-than-average volume, while only another half rose on larger volume… that this wasn’t anything like a panic, manic, melt-up buying day, and we are therefore, still early in the entire bull market advance.

When this thing really kicks off… we’ll all know it. The price increases, and the volume behind them, will astound on the better days… and they are still out there ahead of us!

___________________

Almost 9:00 am EST, and guess what? The metals have turned up a bit, after having been down a bit since yesterday’s close… it could be another good day!!!

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

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