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Message: Re: AAII Sentiment

Dec 31, 2009 09:30AM

Dec 31, 2009 09:37AM

Dec 31, 2009 09:40AM

Yeah, I need a vacation. Unfortunately for me, the consolidation in gold started a little sooner than I was hoping for. So I've had to push my sell deadline up to February. Mr. Market doesn't always allow for perfect planning, lol. I expect the PM group to rally into Feb (which corresponds to a seasonal peak), but I don't think gold makes a new high. I expect a long consolidation perhaps into the fall, and then another leg up.

As far as the AAII sentiment goes, it's a bit volitile and more of a short-term (weekly) timing tool. If we do get a sharp pull back next week, it may scare enough people to turn the sentiment around - here's hoping...

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