This Past Week in Gold

This past week in gold

By Jack Chan at www.simplyprofits.org

02/06/2010

GLD – on sell signal.

SLV – on sell signal.

GDX – on sell signal.

XGD.TO – on sell signal.

Summary

Long term – on a major buy signal.

Short term – on sell signals.

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

Friday’s outside reversal on heavy volume is very constructive towards new buy signals in the next few days.

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.