Gold Update

This past week in gold
By Jack Chan at www.simplyprofits.org
1/29/2011

GLD – on sell signal.
SLV – on sell signal.
GDX – on sell signal.
XGD.TO – on sell signal.

Summary
Long term – on major buy signal.
Short term – on sell signals.
A multi week correction is in progress.We continue to hold our core positions with a hedge in place to lock in profits.

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.
End of update