Flying Saucers

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I just wanted to point out how well-formed the long-term bullish saucer pattern is with gold, the one asset whose ascendancy I cheer.

slopechart GC

And in case you don’t think gold can ever go ga-ga, remember the late 1970s

slopechart GC

To be honest, I think for the moment precious metals have gotten a bit away from themselves, so – gasp – I’ve shorted GDX and SLV. But my “for realz” bullion holdings aren’t going to get touched for years, or decades.