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This week in gold

Jack Chan
written Jul 7, 2007
posted Jul 9, 2007

One chart only this week. The one which matters...


If the current breakout is legit like the previous three breakouts, we are at the beginning of an impulsive phase. What is special about this breakout, is that it occurs after over a year long of consolidation. The whipsaws during this zigzag correction have been the most challenging relative to all previous corrections, and have likely sidelined many traders, and caused many to be skeptical. That is exactly what a bull market needs. Our trading plans call for incremental buying while keeping risk manageable. A special report on the gold sector was posted for members a week ago, you can view this report at this link: http://www.simplyprofits.org/editorials/reports/Some_positive_signs_for_gold_and_silver.pdf

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.

End of update

Jul 7, 2007
Jack Chan
email: jack@simplyprofits.org
website: www.simplyprofits.org

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