Our proprietary cycle indicator reversed down this week, now approaching
levels of previous bottoms.
The gold sector is on a long-term buy signal. Long-term signals can last for
months and years and are more suitable for investors holding for long term.
The gold sector is on a short-term sell signal as the buy signal has failed.
Short-term signals can last for days and weeks, and are more suitable for
traders.
Speculation dropped sharply, but is not yet at the level of the previous
bottom.
The uptrend has ended and a correction is in progress.
Silver is on a long-term buy signal.
SLV is on a short-term sell signal as the buy signal has failed, and
short-term signals can last for days to weeks, more suitable for traders.
Summary
A bull market in gold and silver has been confirmed. The cycle reversed down
again this week. Our modest positions were stopped out with small losses, and
we shall wait for the next cycle bottom.
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 the opinions of
Jack Chan and not of Streetwise Reports or its officers. Jack Chan is wholly
responsible for the validity of the statements. Streetwise Reports was not
involved in any aspect of the article preparation or editing so the author
could speak independently about the sector. The author was not paid by
Streetwise Reports LLC for this article. Streetwise Reports was not paid by
the author to publish or syndicate this article.
2) Jack Chan: 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.
3) This article does not constitute investment advice. Each reader is
encouraged to consult with his or her individual financial professional and
any action a reader takes as a result of information presented here is his or
her own responsibility. By opening this page, each reader accepts and agrees
to Streetwise Reports' terms of use and full legal disclaimer.
This article is not a solicitation for investment. Streetwise Reports does
not render general or specific investment advice and the information on
Streetwise Reports should not be considered a recommendation to buy or sell
any security. Streetwise Reports does not endorse or recommend the business,
products, services or securities of any company mentioned on Streetwise
Reports.
4) From time to time, Streetwise Reports LLC and its directors, officers,
employees or members of their families, as well as persons interviewed for
articles and interviews on the site, may have a long or short position in
securities mentioned. Directors, officers, employees or members of their
families are prohibited from making purchases and/or sales of those
securities in the open market or otherwise during the up-to-four-week
interval from the time of the interview until after it publishes.
Charts courtesy of Jack Chan
