BullMarketRun.ca

Gold continues its ascent and is up $13 an ounce to $1,180 as of 8:55 am Pacific time…silver is also strong, closing in on $19 while crude oil futures are also firmer at just under $86 per barrel…the CDNX is enjoying a strong final trading day of the month and is currently at 1672, up 12 points…the TSX Gold Index is ahead 11 more points this morning to 362 where it may meet some resistance…this is also the 8th consecutive day the Index has posted a gain, so a near-term pullback is clearly a high risk at this point…we don’t recommend chasing the senior golds at the moment…from a technical perspective, the CDNX continues to look very strong but we’d like to see a breakout to a new 52-week high very soon for a momentum jolt and added confidence that Gold may hit a new all-time high…Gold Bullion Development (GBB, TSX-V) is strong again this morning, up 2 pennies to 40.5 cents on nearly 1.5 million shares through the first 2.5 hours of trading…the stock is clearly tightening up, which means much of that 7 cent private placement stock that became free trading recently has been largely absorbed by the market…drilling is expected to resume next week at the LONG Bars Zone…Sidon International Resources (SD, TSX-V) has hit a new 52-week high this morning of 8.5 cents…the stock is up 70% from when we introduced it about a month ago…what’s driving Sidon is its option to acquire an 80% interest in the Morogoro East Gold Property in Tanzania…Morogoro has tremendous exploration potential and local artisan miners have been doing very well there…Morogoro has extensive high grade showings and could quite possibly make Sidon the next Canaco (CAN, TSX-V)…Canaco’s very promising Handeni Gold Project is 100 kilometres south of Morogoro East…Sidon has broken out technically after overcoming resistance at 7 cents…BMR expects news later today from Kent Exploration (KEX, TSX-V) which is holding its AGM today as well as a vote on its proposed spinoff of Archean Star Resources…we believe both Kent and Archean Star will perform extremely well moving forward…Richfield Ventures (RVC, TSX-V) is off 14 cents this morning to $2.02 for no apparent reason…the stock faces some technical resistance at $2.20 which we’re certain it will overcome…