This past week in gold
May 5, 2008
GLD - on sell signal.
SLV - on sell signal.
GDX - on sell signal.
XGD.TO - on sell signal.
All four ETFs remain on sell signals this week.
Metals are now near the 200ema support, therefore, downside should
be limited and we should see new buy signals soon.
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.
The gold sector is in a
bull market, therefore, sell signals are signals to exit and
not signals to sell short. In a bull market, we wait for buy
signals and set ups to initiate or accumulate positions.
End of update
May 3, 2008