Tuesday, May 16, 7:25 am EST. Well, metals were up last night, and they are still higher this morning. We’re waiting for someone to actually notice, so as to start truly pushing this as a real and notable rally. The volume has been getting lighter, as the market has been going higher. That is not a prescription for a real good trade.
One can certainly try to trade it, as I have said, since about this time last week. And, one would have being doing well, so far, but I can’t get into this kind of a trade, where my nerves are going to be jangled, because I can’t see participation and excitement building… all of which is always demonstrated with… VOLUME!
Those that are in, don’t get complacent. Watch your positions closely, and be prepared to sell and take profits. If volume does not build, this ‘rally’ should not have legs and last.