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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (33423)	12/15/2004 9:14:30 AM
From: russwinter	Read Replies (3) \| Respond to of 39344

Lots of cross currents because I strongly suspect a big USD intervention is coming. But sentiment in gold stocks and certainly juniors is punk, therefore I'm sticking with them. I'd avoid GLD however. The silver lining in gold's fall By Mark Hulbert, CBS.MarketWatch.com Last Update: 12:01 AM ET Dec. 14, 2004 ANNANDALE, Va. (CBS.MW) -- Painful as it otherwise was for the gold bugs, last week's sharp drop in gold and gold mining shares afforded contrarians a wonderful opportunity to gauge advisory sentiment in the gold market…. And that is good news for the gold market, according to the contrarians. Consider the latest readings from the Hulbert Gold Newsletter Sentiment Index (HGNSI), which represents the average exposure to the gold market among a subset of short-term gold timing newsletters. The HGNSI has fallen a total of 52 percentage points in recent sessions, and now stands at 19.6 percent. That's a huge drop in sentiment for such a short period. It is not what would have happened if gold bullion's recent high above $450 per ounce represented the top of this bull market, and sentiment adhered to the normal pattern.