The metals have fallen further. The miners took it hard. How hard? Hard enough to take out their latest level of price support? We’ll have to take a look.
We first note decliners on big volume, as with: PAAS, HL, SILJ, GDX, PVG, SSRI.
Others fell, but on light volume, as did: SLV, ABX.
Those that fell on average volume would be: RGLD, SGDM, CDE, AG, FSM, SLW.
We’ve got gold, GLD, falling on average volume, and back to its most recent low of Monday, the 5th.
I’ve cut back to 15 issues and symbols, having dropped SGDJ. The average volume for these 15 was 17% greater than average. They took a hit. Though it is of keen interest that only FSM has threatened it’s last level of price support going back to Monday, 11/14. The rest have quite a ways to go yet before they would do the same.
Let’s keep an eye on things… allegedly the economy and inflation are picking up. If they do, the metals typically respond to rising inflation. We’ll see.
I’ll write of the new timing effort over the weekend.
Here’s to your accumulation of real wealth!
Harold F Crowell