Monday 5/15 6:21 pm EST. The metals closed up, but I recall them being higher in the morning at the open. All 16 symbols closed higher, so what was volume like?
Yup, volume still stinks! 33% below its own 50-day moving average for all 16 symbols. It is a very tepid ‘rally’ of sorts. There is no real fire, no conviction, no excitement here. It’s perfectly okay to try to play it with a trade, but just keep a close eye on it. Put a near stop beneath your purchase, and see if it can’t be ridden for some kind of a gain.
Anyone who was a buyer last Thursday or Friday, after I spoke of it being a potential opportunity, can’t be complaining, as they would have done well, but as with all trades… It’s not how much you make that matters, but only how much you keep. If you bought, and you’re still holding, consider well where you’re going to get out, because I can’t see this rally truly lasting unless, and until, some volume comes in to support this rise, and give it all new impetus to keep advancing.
I’m content to let my present holdings rise, but I’m not inclined to commit any more to these issues yet… perhaps later.
9:33 pm EST. Metals still higher overseas. Will they catch fire? Only if they begin to attract serious attention, and that may come yet! If volume rises rapidly, I’ll join in. For now, I’ll let what I have run.