Mark Hulbert via a Nadler article at Kitco (link)
>>
...from the viewpoint of contrarian analysis, gold no longer had strong sentiment winds blowing in its sails.
... the easiest money in gold's rally is now behind us." Ominously, gold timers on average are no less bullish today than they were in mid-October, despite the recent hiccups. The average recommended gold-market exposure among a subset of short-term, gold-timing advisers currently stands at 53.8%, unchanged from where it was on Oct. 15.
That exposure level is right in line with where gold exposure stood on each of the previous occasions over the last two years in which gold's rally failed.
>>
The low bullish readings on gold timer sentiment is one reason I took long positions in GLD, so it is worth noting. As always, sentiment is one indicator out of many to consider.
Long AAPL, GLD (2)
No comments:
Post a Comment