Negative pessimism among some of the most ever seen on gold in quite some time!!! Must be something worth looking at then. As a contrarian looking for bargains, I love seeing this incessant negativity on gold. The turn around later will probably be huge as usual for things overly shorted. This reminds me of the recent summer when people were super Bullish on crude oil. The bullish sentiment hit a multi year high during the summer for crude oil, & I was huge lover of DWTI (3x bear). As a contrarian, I'm now also loving this prospect of gold reversal at some point for a "short term trade".
All of you say what you will, but it is true that pessimism is crazy on gold right now, so it has to make you question being a short of gold at some point. It past to be short today & maybe a little while yet, but when this reverses, watch out!!
Optimism is at its highest levels near market tops and pessimism is highest near market bottoms :)
I'm anticipating a reversal out of this sideways basing phase we've been in over the past few months - within the next few months. Load gold - load miners (quality names).
Every gold/silver article is so negative,lol. I only seen one positive article for every 200 articles!!! Everybody is calling for lower prices.. Just makes you think 1240 is the absolute bottom right now..
I was also pretty negative on Enron. Sometimes when everyone is negative it's because the game is over and the outcome is known. This game is over. The price of gold blew up from 200 to 1900 in a massive momo bubble and now it is relentlessly correcting back under 300. There will be no more interest in gold for several generations if ever.
Obviously I do not mean simply anything negative in general is good to buy (but by-the-way, Enron did have lots of short term bounces for trading along the way of its collapse--- ha ha ha, good evidence to contradict you also). Anyhow, it is funny: Nice try on your part to spin my posts here on the gold trad, attempting to relate it to Enron. Too funny
Short term trades in mining: Start looking at NUGT (for scale-in strategy), SVM, SVLC, & perhaps some QRM (a very oversold rare earth miner, which I also predicted QRM last June in .40's was time to buy for short term trade)