Tuesday 5/16 9:08 pm EST. Metals and miners were up today. A few were off. But, now… overseas, metals are up a good bit more! If this holds ’til the open tomorrow morning, we’re going to see another pop in the mining shares!
How did today go? I’ve been complaining about the total lack of any committal volume. Was today another one of those days?
A trip thru the charts says to me that volume was way lower… by how much? Ah, average volume for all was off by 46%! This ‘rally’ is dying! Will the next rise in metals prices working tonite come around to finally affect any true rally volume Wednesday?
It remains to be seen. For now, if you’re in on this trade, keep your stops close, as this ‘rally’ is suffering from major oversight by the big players. Why do I suspect something else is up though, and that I’m holding out hope that this is going to explode to the upside with volume confirmation? Could it be just because I’ve always been the eternal optimist?