The metals rose, and the miners did, too… for the most part. Only ABX declined, and then by a small fraction. Let’s examine the price and volume charts for all 15 issues, and then a single chart comprised of an average of all 15 together, as if they comprised an index.
We have mining stocks that lifted, but on light volume, as did: PVG, CDE, SILJ, AG, PAAS, SGDM, FSM, GDX, SSRI, SLW, HL, GLD, RGLD and SLV.
There’s the one decliner in ABX, and it did so on light volume.
It’s an easy call to say that volume was light. How light was it? How ’bout 41% off the 50-day average of volume! That’s light!
So, there’s no rally, and no conviction. Just hang in there. It’ll set-up somehow or another, and a real rally will come out of it, and I intend to be there to catch it when it does!
Here’s to your accumulation of real wealth!
Harold F Crowell