A quick update today. I am not trying to scare anyone – least of all investors. But traders should be aware of the following sentiment structure for the ‘Gold Bugs’ category at Sentimentrader.com.
This comes just as HUI is coming up to resistance.
I am bullish on this sector but volatility will enter the picture sooner or later. The reading above lurched from 10 to 100 in 2 weeks. This is a poor sentiment reading for the short term.