https://jj745.substack.com/p/metals-oil-and-everything-else-37ainteresting short read for one trader's market perspectives. Shared on substack by Doomberg which is how I found it.
here's the key quotes
>In monthly data, positioning in silver is still low by any measure. Prices are < 1% from an 11 year high. Recently USD/JPY threatened to breach 160 and billions of dollars were spent on intervention which, by cob yesterday, did absolutely nothing. The difference with silver is, there is no silver with which to intervene.>Comex copper made all-time highs on Wednesday. Volume was > 120% of total OI. High volume can often mean a climax of capitulation and a top or a bottom. Or… it can be a directional excess in which the market separates itself from its entire body of previous price history in fractal decades.>There are lots of examples if you look for them. Stocks in August 1982, the Nasdaq in the mid 90s, late 2021 for just about everything … imagine buying XOM at $35… I might add in this form, prices can double or more and trend for years at a time. Take a minute. Check it out.>The thing about platinum (chart below) is it can do a rhodium and go to $20,000. There has been too much of it for years but all of a sudden with copper at 8 or 10 and silver at 60… there will be none of it. If you can grasp that, I can be content that I have done a good job today.>Everything is going up. We are so far over our skis now there is no way of knowing where we are. I remember the hair pulling hyperventilating in 1986 when Graham and Rudman made up a debt clock and said the sky is falling. Forty years later we’re fighting inflation, again. Gold is back. 