First trading day of the year, and the metals and the miners had a great launch. Don’t know if last Friday took you out, but I did not sell… I was too busy with other things, and didn’t pay such close attention, as to have seen whether stops might have been hit or not.
It is just like me to pay little attention to the markets intra-day. It’s because I’ve better things to do, and I don’t so much care as I’m willing to look in the evening, and act on the next day’s open, if needs be.
In this case, it sure wasn’t necessary, but let’s see if there was any reason to start getting excited, or not. We’ll go directly to the charts.
Well, maybe there is. We’ll first note those that had a good day today, and on big volume, too, like: PVG, SGDM, SILJ,
Others rose, as well, but only on average volume, like: ABX, GDX, FSM, PAAS, CDE, AG, SLW, SSRI, RGLD,
The metals, in GLD rose, but on light volume. And, like GLD, HL only rose only light volume also. Silver, in SLV, did better, but only a little more than average.
Average volume for all wasn’t 2% below the 50-average volume. It was a totally average sort of day, and no excitement, as though some rally were getting underway.
Enjoy whatever gain you may have gotten, but don’t be looking for it to be on fire, as there’s no evidence of that yet.
Here’s to your accumulation of real wealth!
Harold F Crowell