Tuesday, June 6, 6:02 pm EST. Well, it’s getting close! Will she breakout? Will it happen overnight? Will it happen here in the States on Wednesday? Will it happen at all???

I don’t know. But, here’s what I do know. Today was a very fine day. What about the volume? Was it big? When I checked in at 3:30… it wasn’t. But how ’bout by the close?

Well, gold, itself, as GLD, made a 6-month high… on volume! Silver didn’t, but it’s had quite an advance since 5/9. But, what about the volume. We have it, folks! Whereas we had ‘no’ volume of late to speak of, today’s volume for all 16 symbols was up 36% over the 50-day average for volume. It was the best volume since the last low of 5/4.

Price is right now at what could be considerable resistance here, and so, we’re at the crossroads. It could be making a breakout, or it could get knocked back from right about here. I’m already of an opinion that this might not work this time, but I could easily be proven wrong… very quickly.

So, this is crunch-time now. It’s time to get ready to push a buy button. We may see the opportunity to do so very soon. I don’t know that I’ll add to any of my mining share holdings. I just might take a position in NUGT, a 3X leveraged fund, for this trip.

I’m going to look into any and every resource I can to see if anyone has insight beyond my own to figure it out. Gold is at $1,293 now… $1,300 would be as a magic number to a lot of traders.

Harold

Advertisements

2 thoughts on “Will She Breakout?

  1. Nice!! Glad to see we just might be starting a breakout. It was a very nice day with just about all my miners and ETF’s in the green. The only one not was not was a lithium stock and it was flat.

    Like

  2. Technically, on the wedge-shaped chart pattern, it has broken out, but I’d feel much more comfortable with some follow-through as a confirmation. It’s doing NOTHING overseas this evening, as of 8:50 pm EST. Harold

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s