According to gold guru Harry Schultz who, while remaining a long term gold bull, is recommending reduced exposure to "golds" pending a more favourable entry point a lot further down the track.
I tend to agree with his stand and am awaiting the opportune moment for re-entry into gold stocks.
Here's Harry's latest via a recent GATA despatch:
"Shultz warns that all gold stocks have their own individual patterns (which he tracks in a separate service). And, overall, he says he's reducing his recommended overall portfolio exposure to gold from 25-35 percent to 20-25 percent.
His reasoning: "Gold isn't running away and you can make all the money you want by TRADING THE TRADING RANGE. Later, when gold breaks out...I'll increase [exposure]."
(Schultz is also increasing his recommended exposure to bear funds to 5 percent).
Another gold-negative point: Like other technicians, Schultz is worried about what he sees as a reverse head-and-shoulders pattern in the U.S. dollar, suggesting it might rally, despite the trade deficit."
