BullMarketRun.ca

Gold’s strength continues…as of 8:45 am Pacific, the yellow metal is up $8 an ounce to $1,282.50…the U.S. Dollar, in a 5-week old downtrend on the daily chart, is under pressure again this morning…Gold has gone up this year even when the U.S. Dollar was going up, so Gold is moving higher no matter what and there are very strong underlying fundamental and technical reasons for that…speculation is that the Federal Reserve will be engaging in more QE (“quantitative easing”) of monetary policy which is bearish for the American dollar and bullish for Gold…Silver prices hit a fresh 30-month high Friday and are up again this morning to $20.87, a 10-cent increase…the CDNX is closing in on a new 52-week high…the Index is up another 24 points to 1686, just 5 points shy of the 1691 high reached this past spring…there’s no question this market is significantly overbought at the moment, but it continues to blast through every bit of resistance…it’s possible it may not take a rest at 1691…Gold Bullion Development (GBB, TSX-V) is off another 3 pennies to 55 cents…this type of situation sometimes ends with an explosive upside move that catches a lot of traders and investors by surprise, an event we certainly see as quite possible with Gold Bullion which has been driven into oversold territory…the old adage of buying on weakness certainly applies with GBB at the moment…Sidon International (SD, TSX-V) is up a penny to 14.5 cents on CDNX volume of 1.3 million shares…Sidon is underpinned by extremely strong technical support around 13 cents and it’s not overbought like many other plays at the moment…another one in Tanzania we like is Currie Rose (CUI, TSX-V) which also has a favorable chart and is not overbought…Currie Rose is currently unchanged at 10.5 cents…it recently completed a $1 million financing and is getting set to launch a drill program…Colombian Mines (CMJ, TSX-V), which John featured this morning with a chart update, is up another nickel to 94 cents…a breakout appears immiment with CMJ…also in Colombia, of course we are very bullish on Seafield Resources (SFF, TSX-V) – currently down a penny to 24 cents – and we also like Bellhaven (BHV, TSX-V) a lot which Paul Zweng is doing some great things with…Bellhaven appears to have its La Mina gold/copper project on the fast track to success and it has other irons in the fire as well…Bellhaven is up 6.5 cents to 53 cents…