24 thoughts on “CHART OF THE DAY – gold sentiment”

  1. Spectator

    In the mean time no sign of that tanking dollar. It’s simply bounced of the 200 mda. Not enough of a bloodbath in the good market yet. Wake me up when it’s below $1000. If you are right congrats, if not you can always play the manipulation card, zzzzzz!

  2. Anthonyo

    $1000 and dip below still beckons for gold before its interim bear market is all over. Jumping the gun ma prove wrong.

  3. Jake

    How about mid 2013 – looks to me like sentiment was even worse then, but no signs of a following 40%-rally?

    1. gary Post author

      What do you mean? That bottom in 2013 was followed by a 40% rally in mining stocks and sentiment reached 45% before topping.

  4. Bill in Tokyo

    Where does Sentiment Trader get their data? Is it a large population? And is it updated every week or month? So they like ping institutional traders every week or month? And how do we know they’re saying that they are really thinking? If I worked at a large brokerage firm, I wouldn’t be giving out my hard earned thoughts to anyone. I looked over their website and couldn’t find it. Thanks.

    1. Bill in Tokyo

      sorry – typo – meant “how do we know that they are saying/reporting what they are really thinking?”

    2. gary Post author

      I suspect its a complex calculation from options data, sentiment polls, inverse ETF volumes and such.

  5. Bill in Tokyo

    I just saw the un-scientific poll on Mineweb regarding where the price of gold will be in 3 mos.

    The numbers were:

    Price will be above $1300/oz – 50% (383 votes)
    Price will be below $1000/oz – 19% (141 votes)
    Price will be about $1000/oz – 31% (237 votes)

    Seems that folks who visit this site (not all gold bugs, mind you) are still relatively bullish.

  7. Stefan

    SILVER +3% nice 🙂

    Added to my position yesterday:

    Timmins Gold at 26c
    Kootenay Silver at 20c
    Yamana Gold at 1.95CAD

    get rich or die tryin

    1. gary Post author

      Bonds have been telling traders for 8 months now that inflation is coming, not deflation.

      Miners gapped thorugh thier cycle trend line this morning. Oil is breaking higher out of the flag and threatening to close above the 50 DMA.

      All the signs are there for those that care to see that inflation is beginning.

      1. Tom

        LOL. we haven’t had inflation for a very long time. The only inflation in this entire market are the inflated paper assets called stocks– aka artificial inflation.

        1. gary Post author

          You said it. The inflation has focused mostly in global stock markets. But it’s still inflation. It may be time for some of that inflation to move out of stocks and into commodities.

      2. Jorgy

        I’m sure glad I had the ballsack to buy back my positions at Friday’s close after getting stopped out on the Friday morning stop run and subsequent reversal. If the 3-Year Cycle low is in and this isn’t a counter trend rally or headfake pre-FOMC announcement then we’re not looking at a 40% rally, we’re looking at a 100% rip over the next 6-12 months. Based on the $5 per/coin premium on American Silver Eagles I’d say silver is going to $20 in very short order. :-$

      3. Mr Edge

        Assuming the feds see that also, one would think they would raise rates sooner rather than later. In other words, there must be a good chance they will raise rates now?

  9. gary Post author

    I’ve tried my best to get traders on board. For most of the last year and a half I’ve been warning that gold was going to test the previous C-wave top (1033). No one believed me. Now that it has done so it’s time to go the other way.

    Again the masses don’t believe me. They’ve become so conditioned for gold to go down they can’t envision any scenario where it will go up so they miss the turn.

    This is the way it always is. 90% of traders must be on the wrong side of the market in order for these trend changes to occur.

    Personally I prefer being one of the 10% that spots the turn and gets in at the bottom 🙂

  10. Chris PA

    Been lurking gary’s site for awhile, just made my first stock trade ever on this advice. Even with the meager position I bought I must say I am excited to see what happens. Its been very interesting to read all the 90% haters comments here. Keep doing what you do!

  11. David

    Gary,
    I can see your analysis working out if the FEDS decide to NOT raise rates. However, if they do raise rates what do you see happening then?
    Thanks,
    David

  12. Markus

    Good Article, I need all the help I can get, how long will the bullish trend last? What will happen if the US fed lift their interest rate, will the price go down again, I read a article that there is a possibility of the rate going up later this year.

    Thanks

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