RE:SentimentIn the past at the beginning of a financial downturn/crisis, there is strong support for the dollar as investors leave EM markets. During 3/2008-10/2008 HUI fell drastically (26.7%), then recovered 3/2009 while POG was mostly flat. My hypothesis was that gold stocks were winners in most portfolios and during financial crisis funds sell winners to make year look better by not recording a loss.(?)
b.