Sunday, November 09, 2008 7:21:25 AM
This Past Week In Gold
Jack Chan
www.simplyprofits.org
November 8, 2008
GLD - on sell signal.
A triangle consolidation is in progress.
SLV - on buy signal.
GDX - on buy signal.
XGD.TO - on buy signal.
Summary
Only GLD remains on a sell signal, and with the triangle consolidation, we could see one final spike to a new low. A lower low on the metals with higher lows in gold stocks would be a positive divergence and we can become aggressive buyers in the sector.
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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.
Jack Chan
www.simplyprofits.org
November 8, 2008
GLD - on sell signal.
A triangle consolidation is in progress.
SLV - on buy signal.
GDX - on buy signal.
XGD.TO - on buy signal.
Summary
Only GLD remains on a sell signal, and with the triangle consolidation, we could see one final spike to a new low. A lower low on the metals with higher lows in gold stocks would be a positive divergence and we can become aggressive buyers in the sector.
********
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.
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