Fingering Miners

As everyone knows, metals have gone berserk lately. As I’m typing this, my frenemy palladium is up over $200 per ounce (!!!!!!) which is over 11% just in the first 45 minutes of trading. Precious metals mining ETFs like GDX, GDXJ, and SIL (below) are raging higher as well.

If you think miners are overextended, instead of daring to grab the skillet handle…