Jack Chan

We have tightened stops to remove and reduce risks on our positions. Prices need to reverse up sharply and soon or we will get stopped out…

…..Some of our recently entered positions were stopped out at breakeven this week. But as long as we remain on a major buy signal and the cycle is up, we continue to look for set ups to accumulate positions, while managing risk at the same time….

We had great set ups and we added to positions.

The gold cycle (not shown) has turned up from the most oversold level since the 2008 crash.

We had set ups this week and we added to positions.

We will also remove the hedge on our core positions if conditions are met next week.

We continue to hold our core positions, fully hedged. Waiting for a new uptrend to establish before taking on more positions…..

….Waiting for the downtrend since Dec to be broken and a new uptrend to establish before taking on more positions…

We continue to hold our core positions, fully hedged, locking in profits while waiting…..

We continue to hold our core positions, fully hedged, locking in profits while waiting for the completion of this correction…..

Jack Chan’s weekly update….

This past week in gold By Jack Chan at www.simplyprofits.org 01/16/2010 GLD – on buy signal. SLV – on buy signal. GDX – on buy signal. XGD.TO – on buy signal. Summary Long term – on a major buy signal. Short term – on buy signals. We were stopped out of our newly acquired positions … Continue reading