This Past Week in Gold
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GLD - on buy signal.
SLV - on buy signal.
GDX - sell signal this week.
XGD.TO - buy signal but consolidation continues.
Summary
We were stopped out with a small profit overall. Next two weeks is pivotal as the dollar is trying to bottom and break out. A failure to do so will send the metals higher while a successful breakout will put pressure on the metals, and the broad market for that matter.
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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
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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.
