first majestic silver

This Past Week In Gold

Technical Analyst & Editor
November 8, 2014

COT data suggests a major bottom is not in yet for the metals.

spdr gold trust shares 7-nov

GLD – on sell signal.

ishares silver trust 7 november

SLV – on sell signal.

market vectors gold miners

GDX – on sell signal.

xgd.to

XGD.TO – on sell signal.                                                                       

central fund of canada

CEF – on sell signal.

gold bugs spdr

Our ratio remains on sell signal, but can change soon if prices continue to firm up in coming days.

Summary

Long term – on major sell signal since Mar 2012 when $HUI was at 550.

Short term – on sell signals.

Gold sector cycle – down as of 8/8

COT data suggests a major bottom is not in yet for the metals.

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.

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.


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