This past week in gold
Posted Mar 28, 2011
GLD – on sell signal.
SLV – on sell signal.
New high has not been confirmed by a new buy signal, yet.
GDX – on buy signal.
XGD.TO – on buy signal.
Since 2001, an average time frame to consolidate after making a new high in the $HUI has been between 4 to 6 months, therefore, the current consolidation which began in early Dec has a potential to break out to new highs in the next few weeks.
Long term – on major buy signal.
Short term – on mixed signals.
We are taking advantage of the current consolidation to add to our core positions.
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
Mar 26, 2011