For those on this message board who look for reasons to inflict emotional duress upon yourselves, consider this: Dennis Gartman was on CNBC today calling for a parabolic up move in gold.

The so-called "Commodities King" has been my contrary indicator of choice. In my humble opinion, his reputation for being correct, if once deserved, no longer is so. Instead, it's my experience that he seems to be right not much more often than a stopped clock. And at that he's hard to track because every appearance it seems he's pulling a 180-degree shift on previously announced predictions. It was only weeks ago that he very publicly said he was out of his gold positions. In truth, I have seen conflicting opinions attributed to him on the same day.

What it means is if Gartman is calling publicly for a gold moonshot, I'm concerned we're due for the bottom to fall out. In fairness to him, apparently he made this call today even as the paper gold types were pulling the rug from under the gold -- and by extension -- silver prices.

I hope Gartman's right this time. Time will tell.