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Markets are buoyant again today…as of 8:00 am Pacific, Gold is up $10 an ounce to $1,430 while Silver has climbed 66 cents to $35.94…the military action in Libya is also giving a lift to crude oil prices which are off their highs of the day but up about $1 a barrel at the moment to $102…the greenback’s weakness continues…the U.S. Dollar Index fell below 75.50 this morning and is currently off slightly at 75.61…with some bullish technicals and an array of geopolitical troubles, Gold bulls have reason to be optimistic and are hoping for a push to new highs through $1,450…stock markets are confronted with multiple risk factors at the moment – the war in Libya (coalition actions are also now being criticized by Russia, China and even the Arab League chief who earlier called for a “no-fly” zone), general unrest in the Middle East, the impact of the Japan earthquake, tsunami and nuclear reactor emergency, oil price volatility, Euro Zone sovereign debt, impending tightening of monetary policy in different parts of the world including Europe and China, U.S. budgetary woes, the list goes on…we remain extremely cautious with regard to the CDNX though it is strong again today (along with the Dow and the TSX), up 34 points to 2278…the current technical condition of the CDNX is simply not healthy and is flashing major warning signs as detailed in Part 1 of our Week In Review And A Look Ahead Saturday (this is in the context of an ongoing bull market, so our long-term view has not changed)…John has also prepared a chart which we’ll be posting shortly…it takes patience and discipline to sit on the sidelines when you see a market going up but impatience and lack of discipline can separate you very quickly from your money…the Gold stocks, however, are not really going along for the ride right now…you can see that with how the TSX Gold Index has been performing recently and also by checking the volume leaders on the CDNX…Naikun Wind Energy Group (NKW, TSX-V) is the flavor of the day again today…it hit 43 cents this morning and is currently up 2.5 cents at 36 cents…in the BMR stable, all is generally quiet today…given that we’re anticipating a sharp correction in the markets, we’re busy putting together a “shopping list” of potential new opportunities for investors to check into when the CDNX Walmart-style “Rollback Sale” kicks into high gear…Gold Bullion Development (GBB, TSX-V) is up 1.5 cents at 42.5 cents…John’s updated GBB chart shows time is on the buyer’s side with GBB at the moment…

A couple of companies we believe investors should be watching closely in the days and weeks ahead are Visible Gold Mines (VGD, TSX-V) and Gold Canyon Resources (GCU, TSX-V)…we mentioned GCU last week when it was trading around $2.80 after releasing very impressive drill results, including 100.5 metres grading 7.23 g/t Au, from its Springpole Project, 110 kilometres northeast of the Red Lake Mining Camp…GCU is currently up another 13 cents at $3.49 after a big move Friday…we’re more familiar with Visible Gold Mines…we’ve been conducting extensive due diligence on VGD and we’re convinced it possesses a special dynamic as it has assembled a powerful team with levels of business, geological and marketing expertise that one rarely sees in a CDNX company…many companies have one or two of those elements but not all three…Visible Gold Mines is sitting on nearly $9 million in cash and has assembled an impressive property package in northwestern Quebec in the Rouyn-Noranda region…the company is currently drilling its Silidor Property and by the end of the month VGD should also start drilling at a property immediately adjacent to Vantex Resources‘ (VAX, TSX-V) Moriss Zone Discovery (Galloway Project)….VGD is currently up half a penny at 40.5 cents…we believe Visible Gold Mines is a major up-and-comer on the northwest Quebec Gold exploration front and is very worthy of our readers’ due diligence…