Golden wall of worry

http://www.marketwatch.com/story/contrarian-reaction-to-golds-big-plunge-2010-07-02

Gold's huge drop on Thursday is not the beginning of a new major leg down for the yellow metal.

That at least is the conclusion reached by a contrarian analysis of gold market sentiment. There does not currently exist the kind of stubborn optimism among gold timers that is the hallmark of major market tops.