As I mentioned yesterday, we watch and we wait, because the last sharp price surge needs to be digested with a consolidation or correction… and, that’s what we’re seeing. A quick look in on my trading account showed red and green, because while gold was off more than $12… silver was up a bit. I’m expecting only average volume at best, and that price support is still safe, for now.
I can see those that rose, and only on average volume, like: SSRI, AKG and PAAS.
There are decliners on light volume, as with: PVG, CDE, HL, RGLD, SGDM and AUY.
Others rose, but on light volume, like: AG, RIC, FSM and SLV.
And, decliners on average volume, with: MUX, ABX, SLW and GDX.
Don’t want to see losers on big volume, but we have that with: IAG and GLD.
What we have then, though GLD fell on pretty large volume, which would be a concern… yet, only one miner did the same. Everything else looks to truly confirm a Bullish picture, since volume was either light, or no more than average for everything else, plus, we had 7 rise, because silver did not fall as well. There appears to be NO DANGER at this time, and we can continue to watch and wait without fear.
While gold is up this morning, 8:00 am EST, I’d say WATCH the silver miners! Silver is seriously up this morning!!! We’re likely to experience the next big move up in the miners today, if that silver price gain holds and/or increases further!
Here’s to your accumulation of real wealth!
Harold F Crowell