The metals had a good day today! But, the miners were relatively mixed, some up and some down. Neither the metals, nor the miners had an explosive day, so today wasn’t the day. However, the Bull Market stands well intact, and there will be a powerful breakout day to come. So, talk to me charts, what have you got to say? I would expect volume to have been no better than average, and probably light, like Friday’s and Monday’s volume were. Let’s see…
Off, on average volume were the following: CDE and HL.
Up, on average volume were these: AG, SLW, ABX and GDX.
Then, light volume gainers: MUX, SSRI, PAAS, AUY, SLV and GLD.
Big volume losers: FSM and RIC.
And, light volume losers: PVG, RGLD and ASM.
Finally, big volume gainers! IAG and SGDM.
When you have a day like this, you don’t let the confusion of prices and volume falling all over the place confuse you. Look to the metals themselves, SLV and GLD, and then to the mining fund, GDX, and also to the really large companies like ABX. The volume for these are just as I had thought, average to light; confirming that this was not the day… yet. The overall average volume was off by 10.3% for everything.
We’re fine. It was still a record day for us, as we gained, on average .5% across the portfolio, and we’ve new highs in: AG, SLW, IAG, PAAS, SGDM, GDX and SLV! That’s 7 of the 19 symbols, and we own all 6 of the stocks listed before the metal ETF, SLV. Life is good!
Metals were quiet overnight. As of almost 6:45 am EST Wednesday, they are slightly ahead, but only by a very little.
Here’s to your accumulation of real wealth!
Harold F Crowell