If you believe this somehow means Hillary wins… Okay… right. Whatever…….
Forget all that. Price and volume. Price and volume. Prices were down, and they fell a lot. The decline was in before the market opened here, so the prices opened down hard. And, volume? I haven’t looked yet, but I would expect it to be higher than average, and would be very pleasantly surprised if it was anything less. Charts, please!
First, we do have one that rose, Hecla (HL), rose today. If I had to guess, I’d say it was either an earnings report, or some positive news… and, the volume was big. (I looked in two places, and didn’t find any news.)
Those that fell on average volume: GLD, RGLD, GDX, PAAS, AG.
The issues that decline on light volume: SLV, PVG, ABX, FSM, SILJ, SLW, SSRI, CDE.
The high volume decliners were: SGDJ, SGDM.
Well, now… it wasn’t as I had thought. The average volume for all 16 was not even 3% higher than average. It wasn’t some kind of panic rout whatsoever!
The technical price signature is not even all that bad… at all. It was a set-back, for sure, but the average price fell back no further than to the second base recently completed 1 week ago. There is no risk or danger to be concerned about yet. The bull market is still intact.
Here’s to your accumulation of real wealth!
Harold F Crowell