This Past Week In Gold
Jack Chan
October 4, 2008
GLD – on buy signal but still no set up yet.
SLV – sell signal this week.
GDX – sell signal this week.
XGD.TO – sell signal this week.
Summary
All except one ETF are back on sell signals this week.
No harm done as there was no set up from the previous buy signals.
Risk management has kept us out of the market and out of the whipsaw, which will likely continue in light of the currently extreme market conditions; and more so in gold stocks due to their relatively poor liquidity.
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.
End of update
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