BullMarketRun.ca

Precious metals are weaker today, along with a broad range of commodities, due to a stronger U.S. Dollar and some action by the Chinese to cool “excessive speculation” in their commodity futures markets…Chinese authorities have raised trading margin requirements for their major futures markets in a move aimed at “speculators”…market interventions by governments often don’t work very well and notoriously have unintended consequences for the longer term…”speculators” also drive prices down, not just up…as of 9:10 am Pacific, Gold is down $19 an ounce to $1,356 after dropping as low as $1,350…Silver is off 78 cents to $26.81 while the U.S. Dollar Index is currently up nearly two-thirds of a point to 80.36…all we have to look at though is the action in the CDNX, our most trusted and reliable leading indicator with regard to Gold and commodities in general, to know that the next big move in precious metals and commodities is up, not down…the CDNX is holding up extremely well this morning even in the face of weakness in Toronto and New York (there are shortened trading hours in the U.S. today by the way due to the Thanksgiving holiday)…the CDNX fell as low as 2033 but has bounced back and is now down just 1 point at 2048…we continue to be in the midst of a bull market of historic proportions which we strongly believe will intensify considerably by January…Currie Rose Resources (CUI, TSX-V) is on fire and has now quadrupled in value since we first brought this company to our readers’ attention in September…after jumping a nickel yesterday, CUI is climbing hard again today, reaching a new 52-week high of 42.5 cents…the market is really starting to like what what it sees in CUI’s Tanzanian properties which hold enormous potential as we have been stating repeatedly here at BMR over the last couple of months in particular after we did some extensive due diligence…technically, Currie Rose has broken through important resistance in the low 30’s…as of 9:10 am, CUI is up 3.5 cents to 37.5 cents…another company the market has really yet to fully appreciate, in our humble view, is GoldQuest Mining (GQC, TSX-V) which is developing significant resources in the Dominican Republic and Spain…we added GQC to the BMR Portfolio in late September (at 19.5 cents) and this company is one of our top picks for 2011…we suggest investors look at GQC very closely for its potential in the DR in particular where it has been active for a decade…Gold Fields Ltd. is the major shareholder in GQC which will be resuming drilling shortly in the DR where it holds a large number of advanced and early stage exploration projects…it appears GQC is also developing a major Gold resource at its La Escandalosa Project (formerly Las Tres Palmas)…this is a stock that got as high as $1.80 in 2007 on considerably less than what it has now…GQC is up a penny this morning to 29.5 cents…Gold Bullion Development (GBB, TSX-V) is off 1 cent to 66 cents…GBB has had a strong week and its chart is looking very favorable…more drill results are expected in the near future from the LONG Bars Zone which is showing exciting new potential to the north and the south…the market hasn’t fully grasped that yet but at BMR we know Granada very well and the “truth machine”, the drill rig, is telling us the LONG Bars Zone is developing exceedingly well…Troymet Exploration (TYE, TSX-V), which we mentioned at BMR a little while back when it was in the high teens/low 20’s, hit a new all-time high of 41.5 cents this morning…Troymet has some highly prospective ground in very close proximity to Richfield’s Blackwater deposit in central British Columbia…we haven’t had time yet to do a detailed analysis on Troymet but we suggest investors check it out closely as it appears to have strong potential…technically it looks overbought at the moment, so we suggest being patient and wait for a possible pullback…