GOLDBUGS AMEX Goldbugs Index (GOLD)

[CaribbeanJim]

From a contrarian viewpoint, I don't like seeing reports like this. I'm seeing TOO MANY PEOPLE expecting gold to hit well over $1000 in 2009. We may not get there with this many newsletter recommendations unless a lot of people get discouraged by even lower prices. I'm prepared for a rough and bumpy ride and will add more if it closes below $750 to shake these newsletter writers out. My sentiment indicators look favorable for a nice gold/silver run and it looks like we should get over $1000 in the near future, BUT it is these bullish newsletters that reduce the near-term probability. What we need is some well-known brokerage to come out with a sell on gold... if that occurred, chances of another strong bull run would grow significantly.