This past week in gold
Posted Aug 17, 2009
GLD – on buy signal.
SLV – on buy signal.
GDX – sell signal this week.
XGD.TO – buy signal but consolidation continues.
We were stopped out with a small profit overall. Next two weeks is pivotal as the dollar is trying to bottom and break out. A failure to do so will send the metals higher while a successful breakout will put pressure on the metals, and the broad market for that matter.
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
Aug 15, 2009