Here We Go Again!

Tuesday morning, and the metals have had quite a night overseas! Gold is back up over $1,200. Let’s see if this holds. If it does, there will be quite a pop at the open, and if there is any follow through today, then, we’ll have profitable news to report after Tuesday’s close!

Harold

Gold Up, Silver Down

And, the miners were mostly down, though a couple or three were up. I’d guess the volume was another snoozer, like Monday. Tuesday just didn’t seem to bring anything. Let’s consult the charts.

I find issues that lost some value in light volume with: PVG, PAAS, SILJ, SGDM, AG, GDX, HL, SLW, SSRI and RGLD.

Now, FSM fell on average volume.

We’ve got some gainers, onĀ average volume, there’s: ABX and CDE, with SLV also climbing, but on light volume.

And I guessed average volume correctly. It was off by a full 38% from the 50-day average. Shhhhh, let it sleep…………

Here’s to your accumulation of real wealth!
Harold F Crowell

Let’s Get Back Up to Speed

It’s Monday. January is about gone. We don’t have a gold rally yet. It’s been quite quiet. But, the best thing in the world is to pay close attention, on a daily basis, and just keep watching and waiting… because you’ll hardly ever make money any faster than if you catch a ‘gold rush’ in the metals and miners!

We made a lot of money here from last April 8, until we largely pulled out and took some serious profits in August (most trading profit I ever made in my life!) I put some back in toward the end of September, and that’s not done too terribly well, though it has recovered quite a bit. But, that doesn’t matter. I want something in place from off whatever ultimately will be the bottom, and scale back in more fully, when we identify another great run. So, how did last week, on the 27th, close out? While most were up, two closed down.

First, decliners on light volume: PVG and ABX.

Then, gainers on light volume: PAAS, SILJ, SGDM, AG, CDE, HL, GDX, SLW, RGLD, SSRI, FSM and GLD.

This went up on average volume: SLV.

Before I even check, I know that average volume was well off the norm. And, sure enough… average volume fell 35% below its own 50-day average. It’s as if everyone left early for a holiday weekend! We’re good for now.

A key point to keep in mind now, is that we have a market low that was put in on 12/15, and created a bottom from that date, thru the 23rd, before prices commenced to lifting. We can’t call it a rally, as there hasn’t been a lot of movement in most of our issues, nor has there been anything resembling rally volume that demonstrates serious commitment by traders and investors, to get into this market. It has been very quiet.

At some point, probably after another decline of some degree, that might leave the 12/15-23 bottom in place, it will be noted that a head-and-shoulders bottom, or perhaps a test of that low, resulting in a double-bottom, will give us the technical charting sign many will note, that will give them reason to move in. If anything like this scenario should happen… we’ll be there!

Here’s to your accumulation of real wealth!
Harold F Crowell

A Sad Friday, Too?

Thursday wasn’t kind, and Friday isn’t looking so hot either. I’ll not update charts and such until after today’s close. I see no need to.

It’s rolling back for a reset, and whenever this is over, and a new rally commences, it’ll likely be a beaut, since this decline from the July/August top has been so harsh.

Later…

Harold

Gonna Be A Painful Thursday!

Yikes!!! Gold’s off more than $13 overseas! It’s going to be a painful open. Batten down the hatches!

I had said this ‘rally’ had to either catch fire, or fall back. It wouldn’t catch fire, so it IS falling back. Get ready to reset. Remember, the harder it gets, and the longer it lasts, the better the subsequent rally, as shares trade hands from weaker hands into stronger hands.

I’m good with that!

Harold

Not As Bad As It Was Earlier

Early in the day, the metals and miners were taking quite a drubbin’. But, as I look in on everything after the close, it’s not as bad as it had been. Volume may have been higher for how much they’d sold off, and had then come back. Let’s see.

Most declined, and these did so on light volume: PVG, PAAS, SLW, GDX, RGLD, HL, SSRI, SLV and GLD.

Others fell on average volume: SILJ, ABX, CDE, AG.

SGDM came down on huge volume.

Since FSM got clobbered yesterday, it rose today on light volume.

So, I was all wet again. Volume was off 19% from the 50-day average. Most closed near, or at, their day’s high. None of this was on any meaningful volume, which means… it’s all rather meaningless still. There’s nothing to see here, folks… move along; move along!

Here’s to your accumulation of real wealth!
Harold F Crowell

The Market Gods Must Be Crazy!

Can you make any sense of it? Nah, me neither. I’ll know when I see it… I hope. But, for now, it goes up, it goes down, but it won’t rally. Not yet anyways.

Metals were down a good bit, and the miners were mostly down. What was volume like? I’m tempted to say I don’t care… but, I’m going to bring up the charts and have a look.

We’ve got some that went up, and these did so on light volume: PVG.

But most declined, and these fell on average volume: CDE, SILJ, AG, HL, SSRI.

Others fell on light volume: PAAS, SGDM, SLW, GLD and SLV.

But, then, look at ABX… it rose on BIG volume! GDX rose on average volume. And, RGLD went up, as well, but on light volume.

And, what happened to FSM? It got crushed on massive volume. I’ll need to check for news. Eh, no big deal. It sold some shares, resulting in dilution, but it’s going to spend it on itself, to further improve its own future prospects. I might learn later from other sources that it wasn’t a good idea, but dilution, on a purely valuation basis, always results in an immediate diminishing of the value of all other existing shares.

Average volume for all 15 issues, with the big volume in ABX and FSM, brought it right up to its 50-day average of volume. It was another un-spectacular day, and we watch, we wait, and wait, and wait………

Here’s to your accumulation of real wealth!
Harold F Crowell

Amazing Monday, Huh?

Can you believe it? Metals and miners had a really good day, today. But, since I’ve not seen volume since the 12/15 low, I’m going to go with the opinion that today didn’t make a difference either. Let’s see if the charts prove me wrong.

So, gainers on light volume today were: PVG, CDE, PAAS, SGDM, AG, FSM, HL, SLW, SSRI, SLV and GLD.

But those that rose on big volume were: SILJ.

And, we’ve got gainers on average volume, as with: ABX, GDX, RGLD.

The average volume for all 15 was only off the 50-day average volume figure by 10%, so it wasn’t as light as I had thought it would be. There’s no fire under it. If it keeps up, it’s going to earn the name of being a Stealth Rally, going up while not on anybody’s radar!

Here’s to your accumulation of real wealth!
Harold F Crowell

It’s Sunday!

It’s going to be a Falcons/Patriots Super Bowl in 2 weeks! I live within 10 miles of Gillette Stadium in Foxboro… wanna guess which team I’m rootin’ for?

Look at gold! 10:10 pm EST Sunday evening, and it was up $8.30 and oz. Silver was up $.11.

What will Monday be like?

Harold

Friday, finally…….

Here we are. It’s Friday morning. Inauguration Day. Glad for it, too. Let’s get on with the real business of America, shall we?

I note that Thursday, and Friday morning, gold prices are steady and stable at $1,200 an oz, $16.91 for silver. The miners closed Thursday; some up, most down. Let’s go to the charts for any word as to what might be going on.

Starting with losers on light volume, we’ve got: PVG, PAAS, SILJ, CDE, SGDM, AG, FSM, GDX, HL, SLV, SSRI and GLD.

Having some gainers, these did so on light volume: ABX, SLW, RGLD.

Right away, I know it was a low volume day, as we had no average volume or high volume gainers or losers. Every one moved on low volume. How low? The average volume for all 15 together was 31% lower than its own 50-day average of volume… meaning, it was a real nowhere kind of day for gold, silver, and their miners… which also means, we continue to watch and to wait… again!

It’ll be worth it.

Harold F Crowell