A: Nothing. It’s what’s wrong with peoples’ expectations and perceptions that is the problem.
Once again I’ll quote NFTRH 208 from October 14 (that edition and a sample interim update can be reviewed here: Samples), not to be an ‘I told you so’
wise guy (I didn’t definitively tell anybody anything), but rather to
highlight how important sentiment is to this sector and also I suppose
to toot the horn a little with respect to good risk management.
“Sentiment is over bullish in the precious metals.
Public opinion is over bullish, Hulbert’s HGNSI is over bullish and the
CoT data show that the little and big speculators are over bullish.
This should be cleared out before we renew our bullish enthusiasm on a
risk vs. reward basis. Broad stock sentiment is in a better state than
in the precious metals. It is mostly neutral.”
The over bullish sentiment in the precious metals has been ground
down to a current state of numbness at best, and full out despair at
worst. Actually, it is the reverse; a state of despair is best for a
contrarian opportunist.
