Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

... note on GOLD ... as of this past week, the commercials are more bullish on GOLD than they have been since mid-1999, while sentiment is more bearish than it has been since mid-1999.

And the ADX and stochastics are nicely "paunched."

A pure Larry Williams long set-up if I have ever seen one.
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Hi Ken,
How is that bullishness being measured and which "bearish sentiment" are you referring to?

Which chart are you alluding too with your "nicely paunched" ADX and stochastics reference?

Though I'm seeing the latest COMEX commercial net short position to be physically smaller in number that at time since August, 2002, the number of commercial bulls is virtually unchanged from that of five weeks ago.

It's the 31K fewer commercial shorts that are raising the bullish %age from 36 to 42, which seemingly contradicts your contention that "sentiment is more bearish than it has been since mid-1999"

Are we looking at the same thing?



2002 CoTs
http://www.softwarenorth.net/cot/02/GC.png