BullMarketRun.ca

It’s a quiet trading day with this being Remembrance Day in Canada and Veterans’ Day for our friends in the United States…a day to honor those who have sacrificed their lives to defend freedom and democracy…we hope as many of our readers as possible will be able to participate in services today…Gold has traded within a range of  $1,396 and $1,419…as of 9:15 am Pacific, the yellow metal is up $5 an ounce to $1,408…Silver is ahead 38 cents to $27.52 while the U.S. Dollar Index is up nearly half a point to 78.09…the Dollar Index has posted gains each day this week but the bulls have a lot of heavy lifting to do…the primary trend with the greenback continues to be bearish which is exactly what the Fed wants in order to help reflate the American economy…the market will be paying close attention to developments at the G-20 meetings in Seoul…inflation in China is edging higher…China’s consumer price index rose 4.4% , on a yearly basis, in October…the CDNX, looking for its 13th consecutive weekly advance, is unchanged at 2022…for the second day in a row yesterday there was a sharp intra-day reversal…the Index nearly touched its 10-day moving average yesterday where it has found rock-solid support the last few months…after dropping as low as 1982, the Index rallied 40 points to close at 2022…this kind of volatilty is normal in a powerful bull market and more should be expected over the coming weeks and months…the successful strategy throughout the year has been to buy on the dips and that will continue to be a winning formula…it’s very encouraging to see the 2000 area becoming new support for the CDNX…this market has an incredible amount of underlying strength…Gold Bullion Development (GBB, TSX-V) is off 1 penny at 61 cents…Frank Basa has agreed to an interview with BMR sometime next week, so our gut feeling is that there’s more “coming down the pipe” with GBB in the very near future which is certainly consistent with the company’s news release Tuesday (more assay results this month)…there are more stellar holes on the way, we are convinced, based on GENIVAR’S visual reports over the summer on numerous Phase 2 holes…volume is light across the board today…Currie Rose Resources (CUI, TSX-V) is strongly supported by a rising 10-day moving average at 21 cents…another possible leg up in this play is probably not far off as drilling news from Sisu River draws closer…CUI is currently at 21.5 cents, down 1.5 cents, on volume of just 59,000 shares…the driving factors for CUI over the short to medium term be its Mabale Hills and Sekenke Projects in Tanzania…each has “company making” potential and will be the focus of investor attention…however, one must not overlook Currie Rose’s Scadding Gold Property near Sudbury which has been optioned to Trueclaim Exploration (TRM, TSX-V)…Trueclaim is being very aggressive in its exploration efforts at Scadding and has reported some encouraging results from there this year…we’ll be keeping a close eye on drilling news from Scadding and Trueclaim will also be the subject of John’s Technically Speaking feature later today…volume has picked up in Trueclaim recently and its chart is looking quite interesting…