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Gold & Silver Trading Signals - 06/08/2008
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Summary
All four ETFs are back on sell signals this week. Prices are currently bound by support and resistance. We will remain neutral until a clear break and upon new set ups.
GLD - on sell signal.
SLV - on sell signal
GDX - on sell signal
XGD.TO - on sell signal.
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.
The gold sector is in a bull market, therefore, sell signals are signals to exit and not signals to sell short. In a bull market, we wait for buy signals and set ups to initiate or accumulate positions.
Jack Chan runs a financial advisory service focusing on timing buy and sell signals on Gold, Energy, and Technology indexes. You can gain access to Jack's advisory service through his website: http://www.simplyprofits.org/
