Gold and silver closed down some today… yet, our miners are split almost evenly, some up and some down. And, hardly any of those were big moves. Besides price support holding, the overall stock price action, in the light of the metals price move, is Bullish! I would not expect any extraordinary volume on a day like today, in fact, I’d be more inclined to expect it was on the light side. What will the charts say after Friday’s close today?
So, the first I find is as I had suspected, and these others, all having risen, but on light volume: CDE, SLW, ASM, PVG, RIC, PAAS and ABX.
The decliners appear to also have been on light volume, like: HL, SSRI, FSM, AG, MUX, RGLD, GDX, SLV, AUY and GLD.
Now, I’ve a decliner on big volume, as with: IAG.
And a gainer on big volume: SGDM.
Volume was very light Friday, for the average of all 19 symbols, volume was down 46%! The decline in the prices of gold and silver today were considered to have been relatively meaningless. Further, technical price support is in place and holding everywhere. This is a Bull Market, and it is giving off nothing, but solid Bullish signs, so far. And, despite the recent scare and pain inflicted, we’re still ahead by more than 50% in just 3 1/2 months!
Checking in Monday morning just after 7:00 EST, the metals are still in a process of correction. Gold and silver are both off enough to likely pull shares prices down right from the open. Price support has held, but it may be about to be challenged as early as today in most of the issues, unless the metals can catch a bid.
Here’s to your accumulation of real wealth!
Harold F Crowell