I try not to pay much attention during the day. The weather was way too nice to remain inside. After the close, I took a look, and I saw all green, and some pretty big % gainers. I did sell SA and I bought MUX, as I had stated earlier. Both had a good day.
If I chart these, I would think that volume should be pretty good… and, unless I am mistaken, I do believe that a number made new highs! I’ll list those at the end.
I’ve got some movers on big volume, the gains averaged better than 4.3% for all of them. There was: MUX, SSRI, AKG, CDE, IAG, PVG, FSM, ABX, PAAS, RGLD, GDX, SLV and GLD.
There were goodly gainers on average volume, like: AG, RIC, AUY and HL.
Movers on relatively light volume, too: KGC, SGDM and SLW.
The majority moved higher on big volume, including the 2 ETFs for the metals themselves, SLV and GLD. That’s a very positive development!
Now, for those that closed at new highs… MUX, SSRI, AG, AKG, CDE, PVG, RIC, ABX, RGLD, SGDM and best of all, the ETF for the metal, itself, GLD!
Good things are happening! We’re at, or so very close for others, new highs. The volume was good, some 20% higher than average. Breakouts on volume are to be bought. This is not a strong breakout, and it was not on massive volume… but, that’s precisely what we want to be on the lookout for overnight, and tomorrow. If it’s going to take off, it’s going to take a cue like this one to do it. Watch for it, and climb aboard, if you haven’t yet… we should be able to make something of it by morning, I would think, as this momentum, if it’s a launch, should carry over to the other opening markets around the world. Back Thursday morning with more…
Woke up, and looked in at 3:00 am EST, and Gold was up more than $17, to $1,309. It’s still ahead by better than $14 as I type at 7:34 am. This could be the beginning of something big, perhaps the next leg up….
Here’s to your accumulation of real wealth!
Harold F Crowell