I have posted a weekly chart of GLD below. Note that it has clearly broken the uptrend line. The problem is, maybe everyone has already taken note of that. Right now the Hulbert Gold Newsletter Sentiment Index is at 0.3%. This means that the average gold timer has essentially no position in the metal. Combining the sentiment index with the fact that everybody has been screaming today about how weak the metal has been, I wouldn’t be surprised to see a significant rally in gold from here. Might be worth it to put your whiskey mouth all over this golden south.
http://www.youtube.com/watch?v=va31iqphPRI
Comments are closed.
