Thursday, June 22, 7:09 pm EST. Metals look pretty good, and the miners did real well! Does it mean anything? Well, I’d want to look at the charts, the volume and the timing indicators….

The prices rose well. Volume did expand… somewhat. Remember, Wednesday, it was some 42% below the 50-day average. Well, for Thursday, it was greater, but still 26% below the average. I haven’t updated the timer. Don’t really need to. The indicators are not likely to have gotten any closer, so I’ll update after I’ve gotten back home off my vacation Friday.

What do we make of it? Well, prices have continued a bit higher overseas, since the US close. Anyone wanting to give it a go should only do so with the utmost of caution, as there is just no fire lit under this ‘lift-off’… such as it is. I don’t have any real confidence in it, and I won’t until volume were to expand to at least something above the 50-day average.

Harold

 

 

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3 thoughts on “Do We Pull the Trigger?

  1. Several stocks and ETF’s just went into an VP up trend 1 day old and near term projects for out about 3 days are up, up, up. These would include Yamana, SSRI, Wheaton, DBB (base metals), Microsoft, GG, and that is all I can track; I realize MSFT is not a PM and neither is DBB, but FYI. Gold is up 60 cents overseas.

    MajorDave

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    1. Yes, Harold, basically all the PV software tells me is that an up move is in the cards, but it is not predicting long term. While they do pretty good on stuff like MSFT, etc., their track record with metals is not as accurate. More variables, I think. But, like you said, if we can get this same information–uptrend starting, from several systems, you could play the short term. I don’t want to do that, so I am waiting for you to confirm longer term up trend. I need to look at P3 and see what it is saying.

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