Metals had a good day, Wednesday, all the holdings were in the green. I would expect nothing more than an average volume day. Will the charts confirm that?
I’ve gainers on big volume: ASM, AG, FSM, SGDM and ABX.
And gainers on average volume: MUX, CDE, PVG, SSRI, HL, IAG and RGLD.
Even some on very light volume: RIC, SLW, AUY, PAAS, GDX, SLV and GLD.
Overall volume average for all 19 issues was actually off by 13%.
Now, of the 19, these closed at new highs: ASM, CDE, AG, PVG, HL, AUY, PAAS and SLV.
With 8 new highs, and volume being totally unimpressive, the Bull case remains firmly intact, and could easily run a lot more, as it has yet to become frothy.
As I check in on prices, at 7:10 am EST, gold is down more than $15 an oz, and silver is off $.23 an oz. Expect a significant sell-off in our shares, if prices don’t recover any significant amount.
CrAzY! I check in just after 2 pm EST, the metals are down, but have come back some… but, get this, half our miners are down… while the other half are UP. If that isn’t a bullish confirmation, I don’t know what is!!!
Here’s to your accumulation of real wealth!
Harold F Crowell