Go figure. I don’t know! I was asked if I was truly any kind of a savvy gold stock trader. My answer was… probably not, and I don’t know that anybody really is! Haha
I know how to keep an eye on price and volume… I could try to apply some technical measures of overbought and oversold, and all that. But, I just know that if it takes off, and there’s a lot of volume underneath the move, it’s going to take wings and fly! It’s not necessary to know anything more than that, really.
So, at one point, it was way up… and, since, it’s given a good bit of that back. The share prices were almost all up on the day. And, I haven’t a clue yet what volume was like. I’d guess today was no standout, and we’re still just plodding along. Let’s see!
We start off with those that gained on the day on light volume: PVG, SGDM, GDX, SLW.
We’ve got others that rose today on average volume: PAAS, AG, ABX, SSRI.
And, we’ve got more gainers that lifted on big volume: SILJ, FSM.
Now, we’ve had some to fall. CDE did so on average volume. HL dipped on light volume. And, RGLD did the same on relatively large volume.
Silver as SLV declined on light volume; while gold as GLD rose on average volume.
Average volume for all 15? It was off its 50-day average by 20%. Nothing going on there. Prices on many have been breaking out to even higher levels since the 12/15-23 bottom, but no one’s really noticed or paying any of it any attention. We’re along for the ride, but we’ve not made any heavy commitment as a trader would, when going all in.
I’ll write some more tomorrow, and wrap up the week after Friday’s close.
Here’s to your accumulation of real wealth!
Harold F Crowell