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Chart of the day is...

...the gold/silver ratio:

Much talk on the airwaves on whether silver has bottomed, with our friends the silverbugs now climbing out of the bomb shelters after the latest shellacking to proclaim that y'see, they were right all along and we normal people need to WAKE UP AMERICA! and fight the fascism in society by spending a lot of money on metal bars. Yes, it makes that much sense. 

Anyway yeah, my amateurish read on the Squiggly Lines Of Absolute Truth suggest that the GSR has a reasonable shot at reverting to the 200dma here. But as that's set at ~68X I think we can safely file that kind of result under 'a small victory' at best. Even if it happens.

Bottom line: I'm good with gold, thanks.