Home   Links   Editorials

This past week in gold

Jack Chan
Aug 4, 2008

GLD - on sell signal.

SLV - on sell signal.

GDX - on sell signal.

XGD.TO - on sell signal.


All four ETFs remain on sell signal this week and likely will remain so for the coming week. Since topping in March, both buy and sell signals have failed to establish a sustainable trend, indicating that the corrective process has not completed. We remain cautious and conservative.

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

Aug 2 , 2008
Jack Chan
email: jack@simplyprofits.org
website: www.simplyprofits.org

321gold Ltd