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