Gold, Silver Forming Major Bottom

``"The drop to test the 2012 lows just below $1,600 is causing some traders to abandon positions in ways that they were not doing at any time in the past several years," McClellan wrote. "That kind of extreme stress is usually a sign of a big turning point, although it is worth noting that just because we are noticing the stress now does not necessarily mean that the stress is all done."''