Our proprietary cycle indicator is up.
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 buy signal. Short-term signals can last
for days and weeks, and are more suitable for traders.
FCX: We are long from 10.64; holding for long-term gains.
Silver is on a long-term buy signal.
SLV is on a short-term buy signal, and short-term signals can last for days
to weeks, more suitable for traders.
Summary
The gold sector is on major buy signal. The cycle is up. I am holding FCX for
long-term gains.
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) Jack Chan: I, or members of my immediate household or
family, own puts on the following companies mentioned in this article:
Freeport-McMoRan Inc. I personally am, or members of my immediate household
or family are, paid by the following companies mentioned in this article:
None. My company has a financial relationship with the following companies
mentioned in this article: None. I determined which companies would be
included in this article based on my research and understanding of the
sector.
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.
Charts courtesy of Jack Chan
