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This Past Week In Gold

Jack Chan

Technical Analyst & Editor

June 23, 2012

GLD - back to sell signal this week.

SLV - back to sell signal this week.

GDX - back to sell signal this week.

XGD.TO - back to sell signal this week.

Summary

Long term - on major sell signal.
Short term - on mixed signals.
Most ETFs are back on sell signals this week. Counter trend trades often fail and that is why unless risks are manageable, we remain in cash often during a major sell signal and when configs are bearish.

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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.