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This Past Week in Gold

Jack Chan

Technical Analyst & Editor

January 24, 2009

GLD - buy signal this week.

SLV - buy signal this week.

GDX - close but not quite.

XGD.TO - buy signal this week.

Summary

All except one ETF are on buy signals this week.

If prices can stay strong and higher for the next few weeks, the configs will become bullish again and buy set ups will be favorable.

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Disclosure

We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion.

Jack Chan is the editor of Simply Profits, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the US dollar bottom in 2011.