BullMarketRun.ca

Markets are taking a beating across the board today…the Dow dropped 200 points at the open after weak manufacturing data out of China and a gloomier assessment of the economy from the Federal Reserve…the Dow is off 225 points as of 9:35 am Pacific…the TSX has slipped 245 points while the CDNX, which has been on a tear recently, has dropped 21 points to 1443…the CDNX is still in very good technical shape, however…this is a normal pullback that we warned was possible and a test of the 50-day moving average of 1425 could certainly occur…money is made on embracing this kind of weakness as the primary CDNX trend is very bullish in our view…Gold has bounced around today…it reached a high of $1,209 but has since gone into retreat…as of 9:35 Pacific, Gold is near its low of the day at $1,194 (down $10 an ounce)…the U.S. Dollar is much stronger today, up over 1 cent on the Index to 82.19…Gold Bullion Development (GBB, TSX-V), which staged intra-day rallies to close at 56 cents each of the past 2 days, is off 3 pennies to 53 cents…the overall market weakness today is providing attractive accumulation opportunities with Gold Bullion as well as Sidon International (SD, TSX-V) which is down half a penny to 13.5 cents, an area of strong technical support…as the old adage goes, buy into weakness…