This Past Week In Gold
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GLD - on buy signal.
SLV - on buy signal.
GDX - on buy signal.
XGD.TO - on buy signal.
Long term sell signal - public readers often ask why I think gold stocks are on a long term sell. Buy/sell signals are not my opinions, they are my trading models. $HUI confirmed a major sell signal early this year with a monthly close below 500, and will likely reverse back to a major buy if prices stay firm at current level in coming months. Long term signals are not actionable, they simply suggest whether we should be holding for the long term.
Summary
Long term - on major sell signal.
Short term - on buy signals.
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Jack Chan is the editor of Simply Profits, 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.
