This Past Week in Gold

By: Jack Chan | Sat, May 5, 2012
Share
Print Email

SPDR Gold Trust Shares
GLD - on buy signal.


iShares Silver Trust
SLV - on sell signal.


Market vectors Gold Miners
GDX - buy signal was short lived, no harm done as set up was marginal.


XGD.TO
XGD.TO - on sell signal.


Central Fund of Canada
CEF - on sell signal.


HUI:GLD

Our leading indicator broke down in early 2011 and until this intermediate trend is reversed, any outperformance by gold stocks can be short lived.


Summary
Long term - on major sell signal.
Short term - on mixed signals.
We remain cautious and conservative and will only take trading positions if risks are manageable.

 

 

Jack Chan

Author: Jack Chan

Jack Chan
www.simplyprofits.org

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.

We also provide coverage to the major indexes and oil sector.

Copyright © 2011-2017 Jack Chan

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com