The Hulbert Gold Newsletter Sentiment Index (HGNSI) has gone more bearish than it was last week when Mark Hulbert noted it as being very bullish (on a contrarian basis) on a decline to 23.5%. According to information forwarded by subscriber Larry (not a rookie is all I'll say) the HGNSI is now registering 9.2%!
Do you ever hear me pump the gold sector? Do you ever hear me pound the table? No, I clearly state (as clear as riddles can be :-) the bullish dynamics in play and let you make your decisions. So, with this contrarian indicator registering hyper bullish I will simply say what I have publicly said for years; when trading the gold sector fear rides shotgun and the gold advisers are some of the worst traders on the planet. They are bearish. With every beat down, I become more bullish. But then again, I am not a manic trader micro managing every euphoric rally and depressive beat down.
