first majestic silver

This Week in Gold

Technical Analyst & Editor
May 10, 2007

With the Feds holding their course on rates, we are also holding our course in the gold sector. We remain in cash until a buy signal.

$HUI - remains on a sell signal from April.

$XAU - also remains on a sell signal despite the new found strength in ABX.

GDX - US traders are in cash until a buy signal.

XGD.TO - Cdn traders are also in cash until a buy signal.

SUMMARY

We don't just pay lip service to keeping things simple, we actually practice it. When we are on a sell signal, we are in cash and out of harm's way. We will refrain from shorting until we have a bearish configuration and set up.

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Disclaimer: 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. Knowing which way to place our bets is only half of the formula to success. Wishing you peace and profits......................................

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.


The Incas thought gold represented the glory of their sun god and referred to the precious metal as “Tears of the Sun.”
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