This Past Week in Gold

This past week in gold

By Jack Chan at www.simplyprofits.org

12/05/2009

GLD – on buy signal, barely.

SLV – on buy signal.

Prices testing TL support.

GDX – sell signal this week.

XGD.TO – sell signal this week.

Summary

Long term – we are on a major buy signal.

Short term – Two out of four ETFs are now on sell signals. The other two should follow.

We are holding a core position, now fully hedged to guard against a potential multi month correction/consolidation.

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.