"Public opinion (sentiment) is at extremely depressed levels."
Hobo-jo.... not according to my Market Vane data of investor sentiment.
Bullish consensus for silver has been reducing but there's still room for it to drop further.... 41% has been the low so far in this correction, June 28th, which compares with 28% in October 2008.
On the other hand, BC for gold has been relatively more depressed lately compared with the lows in Oct 08... 52% vs 49%.
IMO, this is because silver BC peaked at an extraordinarily high 97% in April 2011 and it takes a long time to unwind such bullish excess... I'd like to see a capitulation spike lower as we've seen in gold before I commit further to the silver sector.
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