In a post on Tuesday I claimed that all you could hear in the gold “community” were crickets. And that is largely the case at the gold websites; with the exception of a few bugs that are perma-bullish and a few that are bearish. In full disclosure I myself noted the sordid (technical) mess that is the Gold Bugs Index back on the 13th.
Back on November 4th I posted A Notable Lack of Interest In Gold in which sector apathy was noted along with a couple of drive-by insult slingers on StockTwits who made their anti-gold views known; even though all I was doing was highlighting the Gold/Oil ratio (GOR), which has only rocketed higher since then.
As for the GOR, it has tacked on a huge additional gain since then. Here’s the GLD/USO chart from this morning’s post.
It really does seem that if I get any input at all these days it is of this variety, just in by email I assume in response to my latest gold stock fundamental piece, which is bullish if you have a time frame and attention span beyond that of a gnat… or a casino patron. I left his grammar and punctuation as is in order to consider the source…
More PRECIOUS METAL gold bugs blabbering away about the BIG GOLD BULL RUNN…that has been coming..but never arrives…for over 7 years, Gold died in august 2011…..werent you at the funeral
A reader once asked me many years ago (during one of the previous bull phases) if I am trying to become the most hated person in Goldbugville due to my I guess semi-chronic criticism of the promotional elements across the sector. I loved that. A group-thinking gold “community” is one I never want to join, regardless of whether I am bullish or not. This emailer makes an assumption that I am one of the cult members. Ha ha ha…
He is just another sign that the analysis is on the right track. The technicals are not good yet, the fundamentals are getting better each week (although there will surely be some volatility in their progress) and sentiment is where it needs to be. Nobody is exhibiting that grand old bullish spirit out there, outside of the perma-bulls. And the more dismissive, insulting and especially hateful stuff I get for daring to sound bullish on the gold sector… the better.
So as I succinctly responded to the emailer “Thank you for your input!”, as it truly was of value.
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