Thursday, October 12, 2006

Bears on parade...

Sentiment can be a useful indicator, as psychology is a critical element in the market. According to a recent article, stubbornly bullish gold advisor have been relenting to the sell-off:

"The Hulbert Gold Newsletter Sentiment Index, which represents the average gold market exposure among a subset of short-term gold-timing newsletters, stood at a reading of minus 25% on Wednesday night (10/11/06). That's not far off the all-time low, and it's a dramatic change from the stubborn bullishness that gold-timers displayed when the current downleg began, in September."

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