This past week in gold

10/08/2011

GLD – on sell signal.
SLV – on sell signal.

GDX – on sell signal.
XGD.TO – on sell signal.
CEF – on sell signal.

Summary
Long term – on major buy signal.
Short term – on sell signals.
Risk management has prevented us from taking on new positions recently and kept us out of harm’s way. Gold cycle is near a bottom and we shall wait for new buy signals.

Here is a chart we posted for our subscribers recently, quite a shocker for gold bulls. This is not a prediction or forecast, just the chart telling us to be cautious.

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