a plague o both your houses

Chart of the day is…

…the gold/silver ratio, five years:

Two options:
1) This time it’s different.
2) We’re going to see 70X again. After that, we’ll see whether the last couple of months are a real trend change or not.
As silver stocks have been extremely over-priced, if you’re interested in taking a position in any given name, you’re probably better off waiting a month while sentiment blows off. Or you may want to do the more sensible thing and buy gold exposure instead.

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