Monday, July 11, 2011

It Can't Be This Easy to Outperform the Herd

GoldMoney. The best way to buy gold & silver

How can it be? How can an item within spitting distance of its all time nominal highs generate such negative sentiment? I am speaking of Gold. In other words, the world's global reserve currency, which will crush the U.S. Dollar in the clash of the titans for financial dominance.

I saw this Gold sentiment chart in a piece by Mr. Roy-Byrne over at and actually laughed out loud:

Now, I wasn't laughing at the people in this survey - I was laughing at my good fortune. I am guessing this low occurred around July 1st, when there was a brief dip in the Gold price of a FEW PERCENT (oh my gosh, how horrible!). I admit I made my purchase of Gold on June 27th (buy the dips in a bull market, right?) and told my subscribers the low for Gold was in at that time, so I missed the short-term bottom by about 1%. As hard as it is to believe, the Gold sentiment (by this single sentiment measure and none are perfect of course) just went to its lowest level in MORE THAN 2 YEARS at a time when Gold was less than 7% from all-time new nominal highs!

The markets never fail to both confuse and amuse. We are setting up for a great rally that I suspect will last into the end of the year for both Gold and Gold stocks. I plan to keep my subscribers on board for the ride, including navigating some of the short-term swings. Why don't you join us?

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