This past week in gold
Jun 30, 2008
GLD - buy signal this week.
SLV - still consolidating.
GDX - buy signal this week.
XGD.TO - buy signal this week.
Three out of four ETFs are now on buy signals. Since the major
top in mid March, both buy and sell signals have failed to establish
a trend to trade with. Let's wait and see if an up trend can
be established from this week's price action.
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 setups
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 setups to initiate or accumulate positions.
End of update
Jun 28, 2008