This Past Week In Gold
Jack Chan
August 2, 2008
GLD – on sell signal.
SLV – on sell signal.
GDX – on sell signal.
XGD.TO – on sell signal.
Summary
All four ETFs remain on sell signal this week and likely will remain so for the coming week. Since topping in March, both buy and sell signals have failed to establish a sustainable trend, indicating that the corrective process has not completed. We remain cautious and conservative.
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.
The gold sector is in a bull market, therefore, sell signals are signals to exit and not signals to sell short. In a bull market, we wait for buy signals and set ups to initiate or accumulate positions.
End of update
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