Tuesday, May 23, 8:13 am EST. I’ve been ill, which has slowed me up some. The metals had a nice day Monday, and all of the miners responded accordingly. Has the volume arrived? Do traders and investors think there’s a future in it? Let’s see!
We put in a low back on Thursday 5/4. We rose consistently right into last Thursday, the 18th, when metals hit a buzzsaw. They’ve been in something of a recovery mode Friday, and yesterday. So, how healthy is this recovery looking?
The recovery in both gold and silver prices has been far better than that of the recovery in the prices of the miners. And, incredibly, volume is drying right up! It was off 41% from the 50-day average, and considerably lower than Friday’s volume. This is NOT looking good. In fact, it’s beginning to look pitiful. Further erosion of this nature, and I would expect prices to fall away further soon. I’m leery and cautious.
Harold
Gold Stock Trader 
Thanks Harold.
Gold is down a bit overnight. Another terrorist attack hasn’t caused prices to jump, maybe they would have dropped more if not for the attack.
Trump is still on his foreign trip but once he returns to US we may see all he’ll break loose.
On the world political front two elections were won by “moderates”; France and Iran.
Not only did he ask the FBI Director to drop Flynn investigation but he asked the Director of National Intel and the NSA to say there is nothing to Russian meddling.
A person “close to the president” is a Person of Interest” to the FBI.
And rumor is a big Staff shake up is coming.
Last week Jack Welch said if Trump is impeached, the DOW would drop 1000 points.
Trump is a very litigious guy, unlikely to just resign.
Story this morning that Trump wanted to Veto the last Government funding bill but was talked out of it.
Can Rs pass a Debt Limit increase before August ? Dems will strike a very tough bargain. Will Trump swallow it ?
Trump Budget comes out today, DOA
On a positive note, Senate Republicans working on Healthcare bill may have a good idea. Buy all young folks who don’t have Health Insurance a catastrophic health plan. Put more $$ into the heath insurance market and remove the majority of the serious illness/injury costs from the healthcare providers. Now if they would just lower Medicare eligability to 55, we might have something.
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Nice call Harold, after Amature Hour (10 AM) passed, NUGT went negative.
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Harold, do you have any charts which would project the price of some Gold stocks or ETFs if Gold prices rose $100, or $200 per ounce ?
Just curious ?
And is Silver a late bloomer, something to jump on once Gold makes a definitive breakout ?
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No, Dick, I make no such prognostications. I only try to read what I think they are actually saying, day-by-day, looking for entries… and, hopefully, exits, which tend to be more difficult. Harold
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