I wondered if, after the holiday weekend, and Wall Street got back to work, if they would look at what had been going on, and step up to join in at this time. According to the price move I see today in the metals themselves, and that my gold stock account is all green, with big gain numbers… I’m also going to guess that volume really swelled today, and that we may well be into a whole brand new rally, that found its birth early Thursday morning. What do you think? The charts will tell the story, so, let’s let them ‘talk’ to me…
We’ve got movers to the upside on big volume in: CDE, FSM, SILJ, PVG, SLW, HL, SGDJ, PAAS, SLV, GDX and GLD.
And, there are those that rose, but only on average volume: RGLD, SSRI and ABX.
Even one that rose on light volume: SGDM.
If we throw First Majestic, AG into the mix, it rose today on high volume, too.
Average volume for all of them was up by 37%, which isn’t bad, but not tremendous either. Would have been nicer, had it been bigger. But, we’re alright, we’re on board, and we’re experiencing goodly gains in our miners, mining funds, and royalty streamers.
It’s a bull market. This rally is still young, and it’s not too late to be a buyer, and get on board, too!
We need to note, in keeping with the previous post, that everything is running right up into the very area of first price resistance, the mid-August highs. They need to clear that, and this expanding volume on these new up days can certainly help to see that it happens.
Here’s to your accumulation of real wealth!
Harold F Crowell