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Sentiment is not a timing mechanism, but gold bearishness is mounting in a market that has gone sideways for years. Vanguard couldn't take it any more.

This may not be "the bell" but it is a bell. Despite the recent declines, many miners are up tremendously off the lows.


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Hey, let's throw in the towel and buy something that trending. Maybe we should short gold. Facebook sure looked attractive last week.

Mike "Mish" Shedlock