This Week in Gold
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GLD - on buy signal as of 9/04.
SLV - on buy signal as of 8/31.
GDX - on buy signal as of 8/31.
XGD.TO - on buy signal as of 8/31.
Summary
It was another great week to be invested in the gold sector. All ETFs remain on buy signals, therefore, we continue to sit tight. From corresponding with many public readers, it is apparent that a very large percentage of traders are currently on the sideline, with some of them actually short and suffering a significant drawdown. It is not my business to interfere with other analysts' methodologies and recommendations, therefore, I welcome your emails but cannot provide you with any specific advice other than how our trading models are currently positioned.
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Disclaimer: Words of caution: public readers of my commentaries should exercise their own judgment as to whether to buy or sell anything. Never trade based on other people's analysis. Knowing which way to place our bets is only half of the formula to success. Wishing you peace and profits......................................
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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.
