Thursday, August 31, 6:18 pm EST. It was an interesting bit of news, but it’s just the kind of thing we would want to see… The Treasury secretary said, get this now, a weaker dollar is better. That’s all he’s got to say, and the dollar commences a new slide, and gives metals what they need to go up. That’s the kind of fundamental news that gives the precious metals a real reason to rise for a long time. So, is it now tradable? I need to see price and volume charts.
The price and volume charts… remarkably, don’t look all that good. We’ve not broken beyond the price high of just 2 days ago, and volume is trailing off like you wouldn’t believe! It was almost 10% higher than its own 50-day moving average, but the 2 and 3 days previous, the volume was 36 and 65% higher! Today’s 10% higher is underwhelming. The conviction of big-money traders is not here. I’m pleased that we’ve done so well since I called a lo-risk entry about mid-July, and since the more recent August 8 bottom, the month was a good one… but, traders were away, and the volume was terrible, and I have no problem watching and waiting longer, for a whole new lo-risk entry signal, because that’s always the best time to get in… or, when it just starts taking off, breaking out, and volume is seriously swelling; which this has not been doing!