gold reaches new record high !, page-26

"The only risk is buying when it is about to correct within the bull market cycle."

Precisely. HC sentiment is a great contrarian indicator for near-term price action. Is the price likely - I said 'likely' - to continue on this upward trajectory for long? If so, for how long? 1 month? 3 months? 6 months?

Answer - Nobody knows. As I said in my previous post, it was all good in May '06. Gold had soared from ~450 to ~$730. I was mentally spending it in May '06. And then it collapsed to ~$530. What a wipeout for buyers at $730.

I'll say it again - some pom-pom wavers here are going to creamed.