first majestic silver

This Past Week In Gold

Technical Analyst & Editor
October 14, 2012


 

GLD - sell signal this week.

SLV - on sell signal.

GDX - sell signal this week.

XGD.TO - sell signal this week.

The divergence between gold and stocks has resulted in a sell off in both stocks and metals this week. If past history is a guide, a multi-week correction is now in progress.

Summary

Long term - on major sell signal.
Short term - on sell 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.


In 1933 President Franklin Roosevelt signed Executive Order 6102 which outlawed U.S. citizens from hoarding gold.
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