The metals did well, and the miners did very well! Very well, indeed! If the volume was as big, we have something started here! What do the charts have to tell us? Let’s see!
Can we just please start with those gainers that did so… on big volume? Sure! they are: SGDM, PVG, ABX, FSM, GDX, SILJ, SLW, SSRI, RGLD,
What? Some only rose on average volume? Like: AG, PAAS,
Well, what do you know… there’s some that rose on light volume, too… as: CDE, GLD, SLV and HL did.
Now, the average volume for all rose by a meaningful 47%! This is not to be ignored, or taken lightly… we have a likely lift-off here, and it should be played by any who are traders! But, as with any such early calls, you place a close tight stop initially, and it if it’s not hit, you in for the run! Is it going to run? It’s looking like it might!
If you’re not so inclined, you watch and wait very closely for whatever confirmation you need to try to make the trade work for you. I made my call by about 11:00 am EST, this morning, and I’m officially calling this a new rally kick-off… until it proves to be anything else! It’s been 4 straight up days… on increasing volume! It’s a signal… in all probability. What we really need to see now though, would be for volume to also go big on the metal ETFs, GLD and SLV, as well. that would really help to clinch it!
Here’s to your accumulation of real wealth!