first majestic silver

This Week in Gold

Technical Analyst & Editor
August 4, 2007

 

GLD - remains on a buy signal.

SLV - remains on a sell signal.

GDX - remains on a sell signal.

XGD.TO - also on a sell signal.

Summary

Since being stopped out two weeks ago, we remain neutral and in cash until further set ups. Volatility can be sharp this coming week due to the FOMC decision on rates. As always, to enter the markets, we need signals, set ups, and stops.

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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......................................

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.


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