The timer told me it would likely be like this. That’s all I ever wrote about. I’m no whiz. I don’t think these things through, and figure them out on my own. I just punch in the data, and let the OEXpert 7 do the work. It’s an amazing program, isn’t it? I bought it in 1992, for $100. It came on 2 x 5 1/4″ floppys. Remember those?
I did some buying Monday morning. I posted it here. I doubled down on all my positions, and today, they all did well. I’d already read someone say that the volume wasn’t good. So, my guess would have been that on a day that went this well, volume had better beaten average, and if it were at least 50% greater, or more, so much the better. Today may have been the best single trading day gain in my life. Now, the real trick is, of course, to see how much I get to actually keep! Let’s go to the charts, shall we?
Whoa! Forget what I read, I’ll start with those that rose on real good volume! RGLD, SLW, PVG, SLV, FSM, PAAS, GDX, GLD and ABX.
There were 2 light volume gainers, too: SGDJ and SGDM.
Even average volume gainers: SILJ, CDE, HL, SSRI and AG.
Two matters. first, the average gain among them all was 6.05%, and the average volume increase across all 16 issues was up by a truly large 70%! That qualifies as a big turn around day, just as I had been thinking we might get.
I hope you were involved. I got in pretty deep, made a lot of money today, and now need to give careful thought as to how to preserve as much as possible, without getting out so early as to miss out on further gain. This would only qualify as the turning day. The thing to watch for now would be called the follow-through. I’ll explain that in the next post.
I just got lucky… but the funny thing is, the harder I work… the luckier I get! 😉
Here’s to your accumulation of real wealth!
Harold F Crowell