In the January 27 Weekly Technical Review, I noted that Gold and Silver were in an historic run that was destined to end badly. “ The ETF for Silver is SLV and today more than $30 billion of SLV was traded, versus $8.3 billion in Microsoft. This is another indication that speculation is historically high. Gold and Silver are spiking in a parabolic move that compares well with the Tulip Bulb mania of 1637, the South Sea Bubble in 1720, the railroad mania in Great Britain in the 1840’s, the US stock market in 1929, the Nifty-Fifty stocks in 1973, and the Dot.com Bubble in 2000. When these...
