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Non-Tech : The Woodshed
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To: TH who wrote (39086)5/12/2006 1:08:08 PM
From: patron_anejo_por_favor  Read Replies (3) of 60926
 
Trotsky on gold sentiment:

Date: Fri May 12 2006 11:31
trotsky (@sentiment) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
sentiment on gold shares has turned outright bearish imo - not only evident in today's atrocious performance, but also by dint of an over $10m. outflow from the Rydex pm fund yesterday. note that the inflows preceding this were tepid at best. we haven't seen anything even remotely resembling a repeat of the enthusiasm in 2003. during '03, almost $200 million flowed into the fund during the second half of the year. this time, we've seen inflows topping out at $40 million ( of which 25% left us yesterday alone ).

I still think we're in for a short sharp correction, perhaps to 146 on the XAU (a 50% retracement of the move since early March). Could see the POG down to 610-20 on the same move....
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