Saturday, March 17, 9:33 pm EST. Well, IF I’ve been drawing my lines right, and I feel quite certain, to date, that I have. I see the price of gold as sitting right on its support at $124.60 for GLD. If anyone thinks differently, write to tell me about it.
Silver’s pretty much doing the same, and the volume I’m seeing in some of these silver miners for Friday was BIG. Going thru nearly all the charts… big volume moves. And, the 800 lb. gorilla, ABX, closed up on big volume. Interestingly, big volume, in the bigger picture for all 16 symbols, means that it was only 6.5% off of its 50-day avg. of volume, and not the huge decline in volume I’d been seeing and noting of late, where it was less than half the usual.
So, I’ll need to update the timer, but this is getting right to that place I’d been talking about, that another lo-risk entry may be about to show itself. Could this be it? I’m going to have to give a little more time to doing some more research, but I’m thinking it is. This would be the lull before the storm, and nail-biting time. Will it find support right here, and lift off, or will it fail, and break hearts the world over… again?
I’m going to give it a harder look, as I have time, soon. I’ve always been the glass-is-half-full, optimistic kind of guy, so I’m always going to think it’s going to launch… so, I’m always in need of that reason from somewhere else as to why it might not. What might that be? More later….