Mark Hulbert Picks Through Justifications For Gold-Timer Surprise At Decline

After saying that examining rationales after a surprise drop provides added insight into sentiment, he discloses that the most common explanation is unanticipated strength in the U.S. dollar:

The most common excuse that gold bugs have used to explain why they didn't anticipate gold's recent weakness: Strength in the dollar. And I'm sure they're right that dollar strength does translate into gold weakness.

After then saying that he's not buying it, Hulbert mentions that gold-timer sentiment is still at high levels. From a contrarian standpoint, it suggests that gold is in for an extended decline.

The gold timers tracked by the Hulbert Financial Digest have steadfastly refused to build up any cash in the wake of gold's recent slide, which hints at stubbornly-held bullishness.

According to contrarians, the corrections that are most likely to be relatively minor affairs are those accompanied by market timers rushing for the exits. That's not what we're seeing right now.

Although I'm not in the same class, because I'm not registered as an investment advisor, I have made my own bloopers at the commentary level - so I have no high horse to deploy regarding this item. Hulbert, of course, is speaking up for the customers.