Or, is that right side up? It was NUTS. I saw Dow futures off more than 800 points overseas. I saw gold up as much as $59! By the time our markets opened, those emotional extremes had moderated a good deal. Then, by the end of the day, the stock market was up more than 1%, and the metals were up, but not near as much. The miners did very well, however! So, what was volume like? I’d be quite surprised if it were anything, but, greater than average.
So, we begin with those that rose on big volume, like: HL, SLV, RGLD, GDX, SSRI, SGDM, SGDJ, FSM, PAAS, ABX, PVG, SLW and AG.
There’s a gainer on average volume: SILJ.
We have decliners on big volume, as with: GLD and CDE.
And, the volume? O, yea, we had volume today. It was 69% greater than the 50-day average of volume, but, a lot of that was selling volume, as the prices started out very strong, and then slid back during the day, to end up only a small amount in relation to how much they had popped.
Every chart pattern is still safely bullish, and that which thought to have been the catalyst to seriously kick things off again, seemingly wasn’t.
However, as of almost 9:15 pm EST, prices are up overseas by a decent amount. Let’s see what Thursday will bring.
Here’s to your accumulation of real wealth!
Harold F Crowell