Gold & Silver Trading Signals - 07/27/2008


GLD Back on Sell Signal This Week

GLD – back to a sell signal this week.
Stopped out with a small profit.

SLV Silver iShares on a Sell Signal This Week

SLV – also sell signal this week.
Stopped out at breakeven.

GDX Market Vectors Gold Miners ETF on Sell Signal This Week

GDX – sell signal this week.
Stopped out with a small loss.

XGD.TO iShares on a Sell Signal This Week

XGD.TO – remains on sell signal from previous week.
No position taken as there was no set up.

Summary

Since topping in March, both buy and sell signals have failed to establish a sustainable trend, indicating that the corrective process has not completed. We remain cautious and conservative.
 
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, Enery, and Technology Indexes.  You can gain access tot Jack's advisory service through his website:  http://www.simplyprofits.org/