Update on Gold
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Here is an update on the gold sector.
Both investors and traders remain fully invested from our buy signal in Nov and again in Dec. We are in an impulsive phase of a bull market and we shall sit tight until the IP is over.
We bought NEM at $44.31 in anticipation of a major buy signal which has been confirmed, currently up 31%.
We also bought the Rydex precious metals fund at $40.46, and again at $44.35, currently up an average of 17%.
Canadian subscribers bought the RBC precious metals fund at $22.65, and again at $24.17, currently up an average of 21%. We also bought a basket of gold stocks which is up about 18%.
For those who have trouble sitting tight, this is the only chart you need to feast your eyes on for the next few months, and possibly years.
New money and those who are under invested can wait for an IP2, at which time our next buy program will begin.
Jack Chan at www.traderscorporation.com
13 January 2006
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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.
