The metals were up some Wednesday, and the miners did better, again. So, they were up, and up. Here’s what I hear is about to happen. Tomorrow, which will be Thursday, I heard that Draghi of the EU central bank is going to announce new measures of money manufacture in the hopes of staving off a collapse of Europe. That’s what I heard. If that is so, all new money is going to come into existence, and the metals will get a whole new lease on life. The current move is supposedly in front of that announcement… so, I hear. In any case, the metals, rose, and the miners had a nice day. What do their charts say???
I see miners taking off on volume, but not great volume, as with: HL, GLD, PVG, SLV, PAAS, SGDM, SILJ, FSM, CDE and AG.
Others are lifting off on greater-than-average volume, like: GDX, RGLD and SLW.
Still others on only average volume, but we’ve not seen much of that lately, as with: SGDJ and SSRI.
Big volume was behind the move in: ABX.
Everything is breaking out of its 2-week long base. Everything began to move on greater volume. These are bullish positive developments, perhaps Thursday will bring the propellant!
Here’s to your accumulation of real wealth!
Harold F Crowell