Michael Oliver just issued this major warning for investors in the gold bull market
“In a bull market those who look for bullish sentiment to get excessive too early, they’re wasting their time. Contrary opinion is an unreliable indicator. Sometimes near a major top the contrary opinion guys will be right. But quite often in the middle of a trend they will find too many bulls and yet the price will still drive north (head higher). … So I think people who use the traditional methods of analysis like looking at short-term charts or contrary opinion, they’re wasting their time. This is a fresh new bull market, it is a crisis situation, and gold is part of a much bigger picture that’s going on here…”
USAGOLD note: Nothing in the investment game is foolproof including contrary opinion. Oliver has been making the right calls for quite some time now. This is a crisis, he says, and “it is not going to be incremental anymore.” He touts gold and silver saying the yellow metal is headed for the high $2000s. Oliver is a man of conviction as you will find in the interview at the link above. He also carries some credentials having worked directly with COMEX chairman and EF Hutton commodities division head, David Johnston, during the 1970s.
Repost from 8-3-2020