Gold Market Update
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Words of caution: public readers of my commentaries should exercise their own judgment as to whether to buy or sell anything. Never trade based on other people's analysis. I am wrong as often as I am correct; it is risk management which keeps me consistently profitable over the years. Knowing which way to place our bets is only half of the formula to success. Wishing you peace and profits…..
Public readers of my weekly commentary have been asking about my prognosis of the gold market for 2007. I hate to disappoint you, but I do not predict or forecast. Here is what our current trading model says…
Summary
Both $HUI and $XAU are currently on a sell signal since early December and nothing has changed. Traders should be short or in cash.
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Disclaimer: I am not a certified investment advisor, and I have no affiliations with any of the mentioned investment funds. Investing has risks and you should seek professional advice before buying or selling anything.
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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.
