This is another week of bad economic data that most people have ignored

The stock market was up this week; the Dow closed up 1.8% on the year

I don't know if the Dow was rising in spite the bad news or because of it

The bad news means the economy is weak and corporate earnings are not there, and there are high multiples

But of course, if the economy is weak, that takes the Fed out of the rate hiking game and I think puts it into the rate cutting - QE4 game

So the market is caught between the opposing forces of cheap money and falling earnings on the back of a weak economy

Gold was actually down on the week; it started off the week strong, then Thursday it got hit pretty good and today it recouped some of its losses

But the standout was silver

 Silver was up almost 6% on the week; this is a new high

Silver closed at the highest close of the year

In fact, silver was strong with gold on Monday and Tuesday and when gold sold off on Wednesday and Thursday, silver really held up

That's a good sign for both gold and silver

I was on CNBC.com this week and I meant to say something about silver

They're not even talking about silver in the mainstream media so they're missing an even bigger move

They're acknowledging that gold's going up but they're not even looking at silver

I mentioned on an earlier podcast that a number of people are shorting silver and buying gold because they saw the breakout to new highs on the gold/silver ratio and they wanted to jump on that trad

I thought that was the wrong thing to do

To me, seeing new highs in that ratio in favor of silver made me want to buy silver, since it's as cheap as it's been relative to gold

If you like gold, just buy it; don't short silver because you could turn a winning trade into a losing trade