Our proprietary cycle indicator is down.
We are short GLD with a tight stop.
Our ratio remains on sell signal.
Summary
A bull market in gold and silver has been confirmed, but the cycle is down
and a correction is in progress. We are short GLD with tight stops.
Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Chan bought his first mining stock, Hoko
Exploration, in 1979, and has been active in the markets for the past 37
years. Technical analysis has helped him filter out the noise and focus on
the when, and leave the why to the fundamental analysts. His proprietary
trading models have enabled him to identify the NASDAQ top in 2000, the new
gold bull market in 2001, the stock market top in 2007, and the U.S. dollar
bottom in 2011.
Disclosure:1) Statements and opinions expressed are
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Charts courtesy of Jack Chan
