This past week in gold

Jack Chan
Posted Jul 27, 2015

GLD – on sell signal.

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SLV – on sell signal.

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GDX – on sell signal.

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XGD.TO – on sell signal.

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CEF – on sell signal.

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This chart clearly shows how speculators are positioned in both a bull and bear market. Currently net long at 28k, should see a tradable bottom soon.

Long-term holders of gold and gold stocks may have capitulated this week with a huge gap down on heavy volume.

Summary

Long term – on major sell signal since Mar 2012 when $HUI was at 550.
Short term – on sell signals.
Gold sector cycle – down as of 5/16.
A tradable bottom should be in progress soon.

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Jul 25, 2015
Jack Chan
Archives
email: jack@simplyprofits.org
website: www.simplyprofits.org

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.

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