I see a lot of green in my trading account, but the gains aren’t great. Looking at the metals, their end of the day gains weren’t near as great as they had been intraday. I am thinking that there was considerable excitement, as I had thought there would be, but that it got muted by a good bit of selling. The way this would likely translate, is that it was a much more active day, and that a lot of selling into today’s lift took place, making volume a lot higher, while the price move wasn’t really there to justify it. That would make this a transitional day, in which a lot of traders were taking some profit, and it got hidden by a bit more buying than the actual selling. The charts will tell the story, but this is my preliminary guess and opinion. It could be a precursor to some topping action, if even more selling comes in about here.

We’ve got gainers on only average volume, as in: CDE, HL, SLW, FSM, ASM, SGDM, AUY,

And, those that lifted on light volume, as in: ASM, MUX, PVG, RGLD, SSRI, RIC, ABX, GDX, SLV and GLD.

I’ve got one decliner on fairly big volume in AG.

One gainer today, on massive volume, was that same issue that only yesterday got clocked for 10% on massive volume, that being IAG.

I was wrong, and I was right. The volume was nowhere near what I had thought it might have been. Average volume for all of them was off by 13%. There was no real excitement here yet, at all. And, I was right… prices had been considerably better during the day, but closed much nearer their lows for the day, than their earlier intra-day highs. But, because there was so little actual volume involved in the entire day’s move… it is relatively meaningless. Way too few people were involved. There are very few investors/traders getting involved in this market yet. It’s still very early in this Bull Market. Prices rose some, and the volume was again D.E.A.D. It’s just not there to say that this market is heating up yet. And, that likely means that prices can go far higher yet, before it will begin to really attract a lot more participants in this market. It’s a Bull, and it is still young.

We have new price highs in the following: CDE, HL, SLW, PAAS and RGLD.

Here’s to your accumulation of real wealth!
Harold F Crowell


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