Thursday, the wife took me Christmas shopping… ALL day! Then, I had a regular monthly investors’ meeting all evening. I was away. I never saw anything. So, I need to get ‘back in the saddle’, take a look, and make some important comment.
So, let me bring everything up, and begin to look. I see metals off, and I see miners down… I’m live right now, as the Friday market session has just opened. So, I want to chart each issue I’m tracking. Make a change or two, and a major announcement concerning a valuable timing help I’ve learned of. For charting purposes, and to note volume, I need to look at Thursday’s action.
We begin with those stocks that closed lower, but on light volume: PAAS, SLV, GLD, SILJ, CDE, AG, RGLD, FSM, SSRI and SLW.
Others also closed lower, but on average volume: HL.
These closed lower on heavy volume: SGDM.
There were gainers, too, on light volume: PVG, ABX, SGDJ, GDX.
Average volume for all 16 was down 45% below the average… or, in other words, Thursday was a totally NO conviction move kind of day. A long base is forming. The support price level of that base was put in place back on Monday, November 14. Silver and Gold both moved lower than their 11/14 prices (silver bottomed 11/23, and gold on 12/5), but the miners never followed to the downside, which is an incredible positive. With talk of the economy picking up, and inflation commencing to heat up some, I would fully expect the metals to find a launching point and commence a new bull rally. That’s what we are watching and waiting for.
And, by following these markets and stocks almost daily, we will catch it when it takes off!
I’d like to remove a symbol of one very low volume stock that I’m not likely to buy, SGDJ. It trades at hardly 15,000 shares a day.
Next, concerning timing. I have learned of an incredibly simple system, proprietary to one of the programs I use that has been very good at calling the longer-term trends of the metals. I’ll speak more to this later, but I want to familiarize myself more with it, that I might explain it better. Watch for that. It will come soon.
Here’s to your accumulation of real wealth!
Harold F Crowell