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Market Update: Venture Could Quickly Post A Near 30-Month High - BullMarketRun.com

February 16, 2017

Market Update: Venture Could Quickly Post A Near 30-Month High

Today is BMR’s first full day on the ground in the burgeoning northern Ontario Cobalt Camp as we prepare for some fascinating coverage of this exciting area in the days ahead.  ”This is a bona fide Cobalt rush,” one respected and independent veteran observer told us last night.  “We’ve never seen this kind of ‘buzz’ in this district for at least 30 years.” 

As of 6:45 am Eastern, Gold is up $3 an ounce at $1,236 – watch for the possibility of an important near-term breakout above a resistance band that has been keeping bullion constrained recently between $1,215 and $1,235.

The Venture scored its 10th winning session out of 12 yesterday, adding 3 more points to close at 838 as the Index draws closer to reaching last year’s 848 high set August 11 prior to the start of a 4-and-a-half month correction.

This time, given seasonality and other bullish factors, there appears to be little to prevent the Venture from pushing beyond 848 to levels not seen since October 2014 and taking a quick run toward the beginning of a resistance band around 900.

Note how the EMA(8), currently at about 830, has been the Venture’s supporting moving average since this fresh uptrend started in late December (typical during periods of a strong bull market).  Buy pressure is solid while RSI(14) can remain in technically overbought conditions (70% or higher) for a while yet based on historical patterns.

Meanwhile, the backdrop for the Venture couldn’t be better with firmness across the broad commodity sector while global stocks have pushed to new highs, outdoing previous records set in 2015.  Wall Street has scored its longest record-making streak since George H. W. Bush held the White House.

The 3 most popular BMR posts the past week:

Capitalizing on Cobalt (Part 3) – Overlooked Opportunities!

Eskay Heart of Gold Camp Update and the “Q” vs. the “Ovoid”

Venture ALERT:  Ready To Conquer Last Year’s High

Check back this evening and tomorrow morning for fresh updates at BMR.

9 Comments

  1. Not to forget that those holding GGM (formerly GBB) will be getting CSR units- which look good at this time

    Granada to issue dividend of 2.5M Castle units Feb. 27

    2017-02-10 16:08 ET – News Release

    Mr. Frank Basa reports

    GRANADA GOLD MINE ANNOUNCES DIVIDEND DATES

    Granada Gold Mine Inc.’s board of directors has approved a stock dividend with the second annual distribution of 2.5 million Castle Silver Resources Inc. units payable on Feb. 27, 2017, to its shareholders on a pro rata basis with a record date of Feb. 22, 2017.

    Each unit comprises one common share in the capital of Castle and one common share purchase warrant, with each warrant entitling the holder to acquire one common share of Castle on or before Sept. 15, 2017, at an exercise price of 10 cents per common share.

    The distribution of the Castle units to the company’s shareholders of record will be distributed on a pro rata basis in accordance with the following terms:

    The 2.5 million Castle units will be distributed on Feb. 27, 2017.
    The ex dividend date will be Feb. 17, 2017. From this date and forward, new shareholders will not receive the dividend.
    The holder-of-record date will be Feb. 22, 2017, the date on which the shareholders who are to receive the dividend are recognized.
    For stock distributions to occur on subsequent distribution dates in 2018 and 2019, separate ex dividend and holder-of-record dates will be established in each of those years.
    About Granada Gold Mine Inc.

    Granada (formerly Gold Bullion Development Corp.) is developing the Granada gold property near Rouyn-Noranda, Que.

    We seek Safe Harbor.

    Comment by bob — February 16, 2017 @ 6:55 am

  2. Jon, I know you guys at BMR have been busy with the Cobalt happenings in Ontario, but can you give us some sort of timeline on when you will be releasing the interviews with Goldie and Makela? Will it be before they release the 3D model?

    Comment by Dan1 — February 16, 2017 @ 7:11 am

  3. Daniel, not sure why but quite a few sellers of CDG this morning. Hopefully just profit taking by some impatient or longstanding shareholders.

    Comment by Dan1 — February 16, 2017 @ 7:15 am

  4. Lots of potential news in GGI pipeline, reults of tora, tora, 3D model, mexico, and down the road the v-tem results. Finally looking good for near term and beyond.

    Comment by charleybarley — February 16, 2017 @ 9:01 am

  5. Something brewing at HIT technologies.

    Comment by Ed — February 16, 2017 @ 11:21 am

  6. You feel that the SP of Garibaldi is about to explode.
    Some quiet accumulation going on!

    Comment by Tran — February 16, 2017 @ 1:09 pm

  7. a new one to the golden triangle. Apex res APX.V got three property cloud property, wild property, eldorade property. Apex formerly Sulten minerals under went name change and 10-1 share consoldation in 2016 and currently has under 14 million share outstanding. Apex has successful vended two of its property with revenues to net in excess of 5.2 million in property payment over the next three years. currenty focused on aggressively exploring golden triangle propertys. also has red ridge property in southwestern yukon with highlights of the sampling program included 16271 g/t silver and 5.24% copper. one to keep an eye on

    Comment by kelly — February 16, 2017 @ 2:37 pm

  8. Cxo with some great financing another 5 million in the bank and drilling well on the way. Price will move higher

    Comment by Greg — February 16, 2017 @ 3:29 pm

  9. CPO RAISING ABOUT $1.5M. NICE! THIS SHOULD REALLY GET THINGS GOING FOR THEM!

    Comment by STEVEN1 — February 16, 2017 @ 5:42 pm

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