first majestic silver

This Past Week in Gold

Technical Analyst & Editor
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

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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