This past week in gold

Jack Chan
Posted May 7, 2012

GLD – on buy signal.

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SLV – on sell signal.

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GDX – buy signal was short lived, no harm done as set up was marginal.

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XGD.TO – on sell signal.

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CEF – on sell signal.

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Our leading indicator broke down in early 2011 and until this intermediate trend is reversed, any outperformance by gold stocks can be short lived.

Summary

Long term – on major sell signal.
Short term – on mixed signals.
We remain cautious and conservative and will only take trading positions if risks are manageable.

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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.

We also provide coverage to the major indexes and oil sector.

End of update

May 5, 2012
Jack Chan

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email: jack@simplyprofits.org
website: www.simplyprofits.org

321gold Ltd