This week in gold
GLD - remains on a buy signal.
SLV - sell signal this week.
GDX - this US gold stocks ETF reversed to a sell signal this week.
XGD.TO - the Canadian gold stocks ETF also gave a sell signal this week.
We were in the money last week and promptly moved stops to breakeven to reduce risk to zero. This week's sharp sell off stopped us out flat. We are now in cash and wait for new signals and set ups.
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