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Aaron Basile
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Contrarian Investor, Commodities Speculator, Technical Trader.
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Aaron Basile
  • Large Green Volume Gaps In Junior Miners 0 comments
    Oct 25, 2010 3:58 PM | about stocks: EXK, FSM, SLV, GLD, SLW, HL, EGO

    Today there has been notable action in gold and silver miners as many of the juniors have a large gap to the upside and surprisingly, most of which has been on high volume relative to recent months. The GDXJ is up roughly 3.6% as we come into the home stretch before the closing bell and volume is above the 50 Day Moving Average.

    Several of the miners that I cover had similar activity regarding trading gaps and buying volume. Silver Wheaton Corp is gapped and has traded 4.2% higher on consistent volume. First Majestic Silver (OTC:FRMSF) is up over 12% and on a volume level close to what it had at the beginning of the September run. Endeavour Silver (NYSE:EXK) is up 5.7% and on higher volume than what we saw at the end of August. Hecla Mining (NYSE:HL) has also gapped to the upside and trading up by about 2% but with about average volume. El Dorado Gold (NYSE:EGO) has gained back some of the losses it has taken in recent weeks as it also had a small gap, also on average volume. Fortuna Silver (FVITF) which has not been hit as hard as the rest of the sector recently is up well over 8% on average volume along with Great Panther Silver (OTC:GPRLF) that is up 4.6%, though without a gap in the trading range.

    Stocks: EXK, FSM, SLV, GLD, SLW, HL, EGO
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