Friday, May 19 6:25 pm EST. The metals had a decent outing today, the recovery has been pretty good. Volume was way off again, though… 32% less than the 50-day average of volume for them all.

The chart for GLD shows price to have just gotten back above both its 50-day, and its 200-day moving average… And, it’s 50-day avg is right where it is about to cross back over the 200-day avg. That would typically be construed as a very positive technical development… let’s watch closely to see if it actually is in this case.

Silver has a considerable way to go, if it’s going to match that appearance for gold. Price is well below its 50-day, and even more so, below its 200-day.

Let’s be patient. When we ever catch a truly big, bull market rally in the metals and miners, we will make some very good money.

Harold

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3 thoughts on “Making Its Way Back?

  1. I am not following everything Gold as you are but Volume on NUGT was all over the place, starting out heavy but lightened up. The price fluctuated up and down $.40 multiple times.

    I don’t like to buy NUGT when the DOW is going up but today NUGT kept bouncing even as the DOW strengthened. Go figure.

    I took a profit early today this morning on shares I purchased yesterday. After watching it swing a couple of times, I jumped back in and out twice, grabbing a few coins along the way. By days end I I was completely out of NUGT.

    With all hell breaking loose in DC, I probably would have stayed in NUGT but the low volume scared me off.

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  2. Did I read that Dr Steve Sjuggerud says silver going down more before it goes up? Been a very busy day, but I think I did read that.

    Dave

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