BullMarketRun.ca

Gold has hovered between $1,250 and $1,260 an ounce so far today as it seems to have stalled, at least for now, just beneath its all-time high…the action in the CDNX is confirming that Gold is going to a new high but what could occur first is a slight pullback…as of 7:05 am Pacific time, Gold is unchanged at $1,255…any pullback in the CDNX would be healthy from a technical point of view as this market has been on fire through much of July, August, and into early September…as strong as the CDNX has been recently, we believe we’re still in the early stages of a massive move which will likely accelerate over the final quarter of the year…technically, we should also see a reversal in the CDNX 100-day SMA within about a month or so which will be a very bullish development…looking at the chart, there is clearly resistance at 1625 and huge support between 1500 and 1525…our theory is that a test of that support could occur before the next big wave to the upside and a new 52-week high…the CDNX is up 4 points in early trading to 1592…Gold Bullion Development (GBB, TSX-V) went on a rollercoaster ride yesterday (right off the bat this morning, too) that probably unsettled a few investors…par for the course, really, in the volatile junior resource market…the stock ran to a new all-time high of 79 cents yesterday and then rather abruptly crashed to 64 cents before recovering and finishing the day at 71 cents…this type of volatility is not unusual just prior to major news…some pros are likely also playing some games…our advice is stay focused on the fundamentals which tell us the LONG Bars Zone is developing consistently and impressively…a multi-million ounce deposit is in the making here, we believe, and all Gold Bullion needs to do is just keep on drilling…news will come either today or tomorrow and as we stated before, we’re hoping to see some detailed geological information which GENIVAR should have after so many months of drilling…Gold Bullion has been very volatile again this morning, hitting 73 cents at the open, dropping to 65 cents, and then running back up to 74 cents…it’s currently down 2 pennies at 69 cents…Richfield Ventures (RVC, TSX-V) is up 4 cents at $2.29 and seems to be trading comfortably in a fairly tight range just above the $1.95 proposed financing…our expectation is that RVC will really start to fly not longer after the PP is closed…could be a similar situation as well with Sidon International (SD, TSX-V), which is finalizing a 10-cent financing for $1.2 million…Sidon is down half a penny at 12 cents…we mentioned Savant Exploration (SVT, TSX-V) the other day as well as Rye Patch Gold (RPM, TSX-V) as situations investors should do some due diligence on…Savant has property immediately adjacent to Gold Bullion’s LONG Bars Zone 2…Rye Patch has a gold property of merit in Nevada…we’re looking at several other situations at the moment as our intention is to give readers a small basket of what we believe are quality opportunities to investigate, outside of the main BMR Portfolio, and introduce them at the best time possible (i.e., on a CDNX pullback)…Excel Gold Mining (EGM, TSX-V) hit a new 52-week high of 19 cents on volume of nearly 800,000 shares in the first half hour of trading…as we mentioned in our report Tuesday, Excel has all the right components to be another BMR home run opportunity…EGM is currently up half a penny to 18 cents…