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This Past Week in Gold

Jack Chan

Technical Analyst & Editor

December 19, 2009

GLD - on sell signal.

SLV - on sell signal.

GDX - on sell signal.

XGD.TO - on sell signal.

Summary

Long term - on a major buy signal.

Short term - on sell signals. A correction is in progress and we are fully hedged against a potential multi month correction/consolidation.

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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.

Check out our website for our performance in 2008 and subscription info: www.simplyprofits.org

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.