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

Advertisements

2 thoughts on “It’s Still a Bull!

  1. Yes, overall, I was up in miners today, though several by P3 standards are now a sell. GDX ( own free shares now, so I am holding), MUX, which I sold, AG (barely a sell), GSV (sold half for free shares), PGV (did not sell), IAG, (barely), SGDM, AUY, RGLD (barely; did not sell), etc.

    Most of the list looks like a sell, some I did to keep profits or to keep profits and retain free shares. By P3 (not a great system to use to pick when to sell, but very good on when to buy), most are sells. So I will scan the rest looking for those miners who ARE NOT P3 sells. Also, I am looking to VV’s signals provided by Harold. 🙂 (I just got a 5 week sub to VV, but have not yet started looking at how to do what Harold is doing).

    So, HL, just barely a sell; PAAS maybe; not all signals are sell; RIC, barely; CDE is NOT a sell, though it could become one with another down day; SLW is even in better shape than CDE. ASM definitely a P3 sell.

    In general, silver miners look much better than gold miners right now.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s