Gold stock sentiment indicator.
Though gold has taken off in the last couple of weeks, stock prices refused to move. A bit of selling into gold price rises, particularly while the ASX is doing a dump. The AUD is doing fine. Nailed the low.
With sentiment at current levels, I was bemused by all the negative press about gold and gold stocks.
Let us assume we are now on a bull leg and sentiment is going to head back up towards 60%.
This means at least 40% of Aussie gold stocks are going to rise at least 15%. The good ones will rise much, much more.
Plenty of time to get on board and if you can't pick a bunch of winners then you need to improve your stock picking skills.
Expect the recent 3 day consolidation to be a feature of gold price moves. If I have cash, I will be buying dips.
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