I truly hope Gary Savage means " entering" the bubble phase because we sure aren't anywhere near a bubble now.

Sentiment in the mining shares is the lowest it has ever been (over a period of weeks) since this chart began. I believe the attributes for the chart go to Richard Russell but I am not sure.

Here is a recreated version....

http://stockcharts.com/h-sc/ui?s=$BPGDM&p=W&yr=5&mn=0&dy=0&id=p30810679557&a=303829625

You will note going back to 2008 what transpired off of that similar but not quite as strong negative sentiment to the prices of gold and silver. This time it should be even more spectacular.

However I don't think that even the next run (which should be appreciable) will be the manic bubble phase.

P.

ps whoever the original author of the chart was; he commented that never in his career had he seen such a chart.