Zeev's Turnips Patch-No Politics (ZEEV)

[Bearmove]

Gold jilted in jig time

Turning to my antidote to Al, I was astounded to learn how lopsided sentiment has become toward gold. This, by way of the following e-mail from a friend (who I believe was paraphrasing the service he takes): "The 10-day daily sentiment index (DSI) has quickly gone from an excess of bulls to a new record low in the same. At 10.5%, the 10-day DSI has not been lower in its 17-year history."
I think that is a very powerful statement. Not only do people who hate gold hate gold, but it looks like a lot of the people who used to love gold now hate gold. I strongly believe that the lows have been seen for the metals and have positioned myself accordingly.

By Bill Fleckenstein