Last week I posted analysis explaining why I thought the market was giving us “buy” signal from the trading action in the mining shares. As everyone should know, stock forecasting is more like “horseshoes and hand-grenades” than a precision science. Based on the action from Thursday and Friday, I am re-iterating my strong buy call.
During the last week I saw three strong contrarian signals that the manipulated sell-off in the precious metals was bottoming.
1) The Marketvane gold and silver investor sentiment readings hit levels not seen since June 2013. The silver sentiment reading hit it’s all-time low seen June 2013. The gold sentiment reading did not hit an all-time low, but it went below 50, a level which usual coincides with market bottoms.
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