“speculators pour cash into gold contracts simply in time to get whacked as soon as extra to allow them to whine about how gold and silver are manipulated.”
by Bob Moriarty by way of Streetwise Studies
Gold bulls are popping out of hibernation, with even billionaires speaking about how a lot they like gold. That tends to occur simply earlier than a correction. The gold bulls get frothy across the mouth; speculators pour cash into gold contracts simply in time to get whacked as soon as extra to allow them to whine about how gold and silver are manipulated and nobody noticed it coming.
I’ve written quite a lot of occasions in regards to the significance of understanding bullish sentiment. I discover the DSI of Jake Bernstein the one most beneficial indicator I take advantage of. On each Thursday and Friday final, the DSI for gold hit 94. That doesn’t recommend a serious excessive marking a high for the subsequent 200 years however it does say warning could be merited. Too many individuals turned bullish impulsively.
The COTs agree. Gold sentiment is extreme.
Bob and Barb Moriarty introduced 321gold.com to the Web virtually 16 years in the past. They later added 321power.com to cowl oil, pure gasoline, gasoline, coal, photo voltaic, wind and nuclear power. Each websites characteristic articles, editorial opinions, pricing figures and updates on present occasions affecting each sectors. Beforehand, Moriarty was a Marine F-4B and O-1 pilot with greater than 832 missions in Vietnam. He holds 14 worldwide aviation data.