Granted these things are hard to quantify but it seems to me that the prevailing sentiment right now towards gold is that it is overbought and due for a correction.
I'm not really seeing the panic buying that typifies most tops in gold.
I've pointed out before that overbought can get a heck of a lot more overbought in a powerful bull market.
All those traders that sold their silver because it was overbought only managed to miss a 30+% move.
If we do get a correction, great, I'll be able to put the rest of my capital to work. But selling simply because a bull market is overbought? No thank you!
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