It’s been a very solid week for metals and miners, especially gold.  I am a bit weary about the underperformance of the gold and silver miners and what that may be telling us about the imminence of some sort of liquidity event (i.e., a stock market crash).

I am still sticking with my call that silver will see $50+ by midyear.  I am actually expecting $50 to be breached by a fairly decent margin actually, on a blowoff type move–maybe $60 or even $70.  We will get a sharp, minicrash at that point (I’m hoping we won’t drop below the high $30s) followed by a rangebound consolidation for 6-12 months.  When that consolidation is completed, silver is going to head to $100-150, which I think is a conservative target.