The Kooks’ Last Stand

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The drop in precious metals has been shocking, particularly to those who – – quite logically, I think – – figured the trillions of clown-bux that douchebag the honorable Chairman Bernanke was cranking out would send gold to $5,000 per ounce. Anything shiny – – and especially the miners that dig up anything shiny – – has been in an Honest To God Bear Market. I only wish I had put my entire portfolio into long-term GDX puts two years ago and just sat on my butt ever since.

In any case, any further weakness from these levels, and you’re going to see a collapse. There’s nothing but air below.

0412-GLD

 

0412-SLV

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