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

"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.