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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Eva who wrote (34816)	4/22/2005 12:24:37 PM
From: seventh_son	of 39344

Even better -- sentiment for gold newsletters has turned extremely bearish, close to historic lows. Such sentiments tend to mirror low points in prices. custom.marketwatch.com{6C5CB118-EB01-4E4F-8002-6A66E0C89E93} "HBNSI [bond sentiment index] broke to...[historic low] negative 67.4 percent. A broadly similar story can be told about gold market sentiment, though gold sentiment hasn't actually broken down to new lows. It merely has come down to more or less match previous record lows. (The record low for the HGNSI is negative 31.3 percent; on April 14, this gold sentiment index dropped to negative 30.4 percent -- just 0.9 percentage points above the all-time low.) If we take seriously the contrarian analysis of these two sentiment indexes, what might they be saying about the future? The most straightforward interpretation, it seems to me, is that a crisis is imminent in which the viability of the financial markets is called into question -- one in which there is a flight to quality (such as government bonds) as well to hard assets (such as gold)."

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