This Past Week in Gold

October 18, 2008

GLD – sell signal this week joining the other three ETFs.

SLV – on sell signal.

GDX – on sell signal.

XGD.TO – on sell signal.

Summary

All four ETFs are on sell signals.

Risk management has kept us on the sideline and out of harm's way during the current extremely volatile market conditions. Cash is a position too, and we will stay there until conditions improve.

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.

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Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the US dollar bottom in 2011.

The Incas thought gold represented the glory of their sun god and referred to the precious metal as “Tears of the Sun.”