This Past Week in Gold
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GLD – on sell signal.
SLV – on sell signal.
GDX – on sell signal.
XGD.TO – on sell signal.
For the benefits of newcomers who are unfamiliar with this long term chart between gold and USD, it is a constant reminder that we must exercise caution when taking on new positions in the gold sector as evidence suggests that gold has peaked and dollar has bottomed for the long term until proven otherwise.
Summary
Long term – on major sell signal.
Short term – on sell signals.
Gold sector cycle – down as of 4/05.
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.
We also provide coverage to the major indexes and oil sector.
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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.
