Metals closed down… in overseas trading tonite, they’re down some more. Yet, the miners closed all over the place… some up, some down… and some even moved quite a bit. Go figure. I need to see the charts and determine, what, if anything decipherable can be determined from them. So, here goes… O, and as for volume… after looking at the share prices, I don’t even dare hazard a guess.
Let’s start with decliners on light volume: GLD, HL, GDX, PVG, SGDJ, SLV, PAAS, SGDM, SILJ, SSRI, FSM, CDE and AG.
We’ve got gainers on light volume in: RGLD and SLW.
These were off on average volume: ABX.
Okay, it was pretty uniform after all. 13 of the 16 were down on light volume. The average volume for all was off by 41%. Thursday’s decline really didn’t mean much. There’s no danger or risk seen here. Again, prices overseas are off a bit more though, and that’s not likely to engender any mining share gains Friday, unless it turns up. We continue to watch and wait, though it would appear to want to fall back into the base.
6:23 am EST Friday and the price change overnight is minimal… not any problem at all!
Here’s to your accumulation of real wealth!
Harold F Crowell