BullMarketRun.com

Welcome to our site, or at least the initial version of it!  BMR has been online for more than 4 years and strictly through word-of-mouth we have built a loyal following.  We encourage reader feedback and the exchange of helpful opinions and ideas among investors in our forum. 

We’re continuing with our plans to ultimately construct a very unique investment and money-management resource site that goes considerably beyond what we have now.  We focus a great deal on the Gold, Silver and Copper markets as well as trends in the global economy, in addition of course to the technical health of the TSX Venture Exchange (CDNX).  An important component of this site, as well, will always be original research on high quality junior exploration companies or small producers that offer very real and significant upside potential. We are extremely selective in the companies we feature and put forward to investors – we prefer quality over quantity, and we are being more selective than ever in the current market environment.  We look for companies with the ability to execute both on the ground and in the market, who are determined to build shareholder value, which actually excludes most Venture stocks.  However, investors must understand that the companies we do put forward for our readers’ due diligence are still highly speculative situations and entail considerable risk, volatility and unpredictability.

Our intent is to provide you with information that you can use as part of your own due diligence.  Our stock coverage is for informational and entertainment purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. We are not Registered Securities Advisers. Our opinions can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Adviser operating in accordance with the appropriate regulations in your area of jurisdiction. Always perform your own due diligence and please read our disclaimer at the bottom.

We use a combination of fundamental and technical factors in determining the value and potential of a stock.  In terms of fundamentals we look for a company with a superb project supported by strong management.  Management must possess integrity, solid ethics and a determination to succeed and build shareholder value.

At BullMarketRun (BMR) we approach the handling of money from a biblical perspective and this is an important topic we will be sharing with our readers (and listeners) as the site continues to develop. The Bible teaches so much about money and how to handle it and invest it –  there are literally thousands of verses on how we should handle the money and possessions that God entrusts us with.  By examining the life of Jesus and reading the Word of God, we can all become fully equipped to be successful investors and handle money wisely.  We have a God who thinks big – He created the universe – and He wants us to think big  in every area of our lives.  When we handle money from a Biblical perspective (His money that we have been given stewardship of), He will bless you.  This all begins, of course, with a personal relationship with Jesus Christ by accepting Him as your Lord and Savior and putting Him at the throne of your life.  It is the most important decision you’ll ever make.

God Bless,

Terry Dyer

Owner/Publisher, www.BullMarketRun.com

Disclaimer:

BullMarketRun.com (BMR) is completely independent from any companies it covers.  BMR accepts no compensation of any kind from any groups, individuals or corporations for coverage of any company mentioned on this site.  We accept no advertising either.  Our stock coverage is for informational and entertainment purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. No investment opinion or other advice is being rendered on any stock or company. We strongly recommend that you consult with a qualified investment adviser, one licensed by appropriate regulatory agencies in your legal jurisdiction, and do your own due diligence and research before making any investment decisions. The stocks we cover, by definition, are highly speculative and potentially very volatile. Investors are cautioned that they may lose all or a portion of their investment if they make a purchase or short sale in these speculative stocks.  We are not Registered Securities Advisers. Our opinions can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Adviser operating in accordance with the appropriate regulations in your area of jurisdiction. It should be assumed that BMR personnel, writers and their associates may hold or dispose of or trade in positions in any securities mentioned herein at any time.  Owner/Publisher of BullMarketRun.com is Terry Dyer of Langley, British Columbia.

Forward Looking Statements:

All statements in BMR’s reports, other than statements of historical fact, may be forward-looking statements. These statements relate to future events or future performance. Forward-looking statements are often but not always identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.

Gold has traded between $1,240 and $1,250 so far today…as of 7:30 am Pacific, the yellow metal is up $4 an ounce at $1,246…Silver is down 4 pennies at $19.95…Copper is up a penny at $3.19…Crude Oil is off $1.03 a barrel at $94.41 after a strong advance yesterday, while the U.S. Dollar Index has retreated one-quarter of a point to 80.80 as the 81 level continues to pose a problem…

Bullish contrarian sign – Gold analysts surveyed by Bloomberg News are the most bearish since June…19 analysts expect prices to drop next week, nine are bullish and three neutral, the largest proportion of bears since June 21 – just as Gold was about to hit its yearly low…

China, set to overtake India this year as the world’s top Gold consumer, will start Gold swaps trading on the interbank market next week, giving more hedging tools for banks dealing in bullion….the Shanghai-based China Foreign Exchange Trade System will start Gold swaps trading on Monday with the Shanghai Gold Exchange responsible for related settlement and delivery, the National Interbank Funding Center said in a statement today as reported by Reuters…the start of Gold swaps trading comes as China is taking steps to open up its Gold market and increase financial investments…China’s central bank stated in September that it plans to raise the number of firms allowed to import and export Gold and also ease restrictions on individual buyers of the precious metal…

Germany, the world’s second biggest holder of Gold reserves, cut its bullion holdings by a tiny amount in October for the second time in five months, data from the International Monetary Fund showed today…Germany’s central bank sold 3.4 tonnes last month and now holds 3,387 tonnes of Gold, according to the IMF website…Turkey was the biggest buyer in October, adding 13 tonnes (China, of course, rarely discloses its Gold holdings – it last commented on its bullion assets in 2009, saying its central bank then held 1,054 tonnes)…global central bank buying reached a 48-year high in 2012 of 544 tonnes, but it has since moderated…it was down 25% year-on-year in the first nine months of this year, according to the World Gold Council…

Draghi Plays Down Deflation Risks

The head of the European Central Bank says harmful deflation is not taking hold in the euro zone despite concerns over the strength of the region’s recovery…Mario Draghi said yesterday in a speech in Berlin that the ECB’s decision to cut interest rates was “not because we see deflation risks materializing” (believe the opposite)…Draghi said inflation will gradually return to the ECB’s goal of just under 2% annually as the economic recovery gathers pace…Draghi and other central bank leaders are likely much more concerned about deflation than they are letting on – Gold’s action this year is certainly telling us that deflation is an issue – so expect stimulative policies to continue with central banks trying to become even more creative if inflation doesn’t start picking up…

Today’s Markets

Asian markets were mostly higher overnight…China’s Shanghai Composite slipped 9 points to close at 2196, but the weekly advance was 2.8%…Japan’s Nikkei average finished at a fresh six-month high for a second straight day, 15382…

European shares are mixed in late trading overseas…

In New York, the Dow – after closing above 16000 for the first time ever yesterday – is up 5 points through the first hour of trading…the TSX has added 36 points to 13511 while the Venture has shot up 9 points to 936 after posting its third-best daily gain (nearly 12 points) in two months yesterday…again, a now-rising 100-day moving average (SMA) is a very positive sign for the Venture…

TSX Chart Update

The TSX is now trading at resistance around 13500, based on John’s 4-year weekly chart below, so we’ll see if it has enough energy to push through this area in the coming days, or if it needs to pause and take a brief rest before its next attempt at another important breakout…the 20-day moving average (SMA), currently at 13400, has been providing strong support since July with the Index dropping just slightly below that level on only a few occasions…while a near-term minor pullback is certainly possible, the overall TSX pattern remains bullish…

Pretium Resources Inc. (PVG, TSX) Bulk Sample Surpasses Target Of 4,000 Ounces

Pretium Resources (PVG, TSX) announced this morning that it has produced 4,214 ounces of Gold from 8,090 dry tonnes of excavated material from the Valley of the Kings bulk sample program – already surpassing the target of 4,000 ounces from the entire 10,000 tonne sample…processing is on track and expected to be completed early next month…the final amount of Gold production will be announced at the end of processing and assaying, which is expected by mid-December…Pretium tumbled from more than $7 a share after independent consultant Strathcona Mineral Services Ltd. resigned from the bulk sampling program in early October in a dispute with Snowden Mining over how to reconcile the bulk sample with Snowden’s resource estimate…in our view, as we mentioned at the time, this was nothing more than a classic clash of geological egos but investors got skittish, and Pretium didn’t help its own cause by the way it communicated the news of Strathcona’s departure…

Below is a 4-month daily PVG chart from John that was prepared after the close yesterday, as we were hoping investors could see the opportunity around $3 a share which likely was an important bottom for this stock…as of 7:30 am Pacific, PVG is up $2.54 to $5.62 and well on its way back up the ladder…it has traded as high as $6.15 today…

Azincourt Uranium (AAZ, TSX-V) Update

Azincourt Uranium (AAZ, TSX-V) is expanding its uranium portfolio, announcing the acquisition of a private Peruvian company that holds 100% of the rights and interests in the advanced-stage Macusani and early-stage Munani projects covering nearly 15,000 hectares in southeastern Peru…AAZ will pay $500,000 in cash and issue 5 million shares for total consideration of $2 million…this will dilute the AAZ share structure by nearly 20%, but the deal does create a stronger foundation for this maturing exploration company…$12 million has been spent developing Macusani which has a NI-43-101 compliant U308 resource (October, 2011) of 5.7 million pounds in the measured category, 12.5 million pounds indicated, and 17.4 million pounds inferred…AAZ is off a penny at 28.5 cents as of 7:30 am Pacific…below is a 15-month weekly chart from John, showing a very favorable overall technical posture…as we’ve been mentioning, it’s reasonable to expect a breakout above the horizontal channel at some point over the next couple of months…

Fission Uranium Corp. (FCU, TSX-V) Chart Update

Fission has been looking stronger from a technical standpoint recently and should now have strong support around $1.15 where the 50-day moving average (SMA) has flattened out after a brief decline…FCU could have a powerful finish to the year…it’s unchanged at $1.18 as of 7:30 am Pacific…

LX Ventures (LXV, TSX-V) Updated Chart

Below is an updated LX chart from John as the stock continued its advance yesterday toward the 73-cent Fib. level which is now the major near-term resistance…LX opened at 73 cents this morning…after the first hour of trading it’s down a penny at 70 cents…

Note: John, Terry and Jon do not hold share positions in PVG, AAZ, FCU or LXV…

Gold has traded between $1,236 and $1,251 so far today…as of 7:30 am Pacific, bullion is down $4 an ounce at $1,239...its weekly close tomorrow will be important…Silver is off 4 cents at $19.81…Copper is flat at $3.16…Crude Oil is up 50 cents at $94.34 while the U.S. Dollar Index is essentially unchanged at 81.12 as it continues to wrestle with the 81 level…

This on-again, off-again game of when the Fed is going to start to “taper” its bond-buying program continued yesterday after release of the October Fed minutes and the mainstream media’s news headlines that followed…there was nothing really new with regard to QE in those Fed minutes as members agreed they would likely start reducing their bond purchases in “coming months” if the U.S. job market improved further, but Gold sold off in another “taper tantrum” and the Dollar Index gained half a point on the view – held by the same people who insisted tapering would begin by September – that there’s an increased chance the Fed will reduce purchases as early as next month…this guessing game will continue and views will change as quickly as a chinook can bring instant warmth to a prairie cold snap…the reality is that the Fed is caught between a rock and a hard place and will have a difficult time weaning itself off the QE drug, particularly at a time of political wrangling in Washington (another debt ceiling debacle could be on its way) and poor federal fiscal policy…

Wall Street Journal ace reporter Jon Hilsenrath had an excellent piece this morning on Fed strategy (“Fed Casts About For Endgame on Easy-Money Policy”), and wrote:  “One scenario getting increased attention at the Fed: What if the job market doesn’t improve according to plan and the bond program becomes ineffective for addressing the economy’s woes?  The minutes showed their solution might be to replace the program with some other form of monetary stimulus. That could include a stronger commitment to keep short-term interest rates low far into the future, a communications strategy known as ‘forward guidance’. Top Fed officials have been signaling in recent weeks that their emphasis is shifting away from the controversial bond-buying program and toward these verbal commitments to keep rates down.”

Today’s Markets

Asia

Asian markets were mixed overnight…Japan’s Nikkei average soared 290 points or 2% to close at 15366…China’s Shanghai Composite, meanwhile, closed relatively unchanged at 2206…a preliminary gauge of China’s manufacturing activity showed a mild weakening of growth momentum in November, weighed down by sluggish new export orders…the HSBC preliminary Purchasing Managers’ Index slipped to 50.4 in November from 50.9 in October…despite the weaker expansion, the result was still the second-best reading in the past seven months…China’s economy showed an upturn in the third quarter, posting year-over-year growth of 7.8% after two quarters of slower growth…the economy is widely expected to top the government target of 7.5% for the full year, but many analysts say growth could slow in 2014…

Europe

European shares were down slightly today…a sign that healing is certainly underway in parts of the euro zone…Greece’s battered economy is expected to emerge from its deep recession and grow slightly next year, the deputy finance minister today, moments after the 2014 draft budget was submitted to Parliament…Greece’s economy has been dependent on international rescue loans since May, 2010, after rising interest rates left it unable to borrow from bond markets…the 2014 budget projects economic growth of 0.6% next year…this year, the economy is expected to contract 4%, slightly less than the originally forecast 4.5%…“For the first time, the major sacrifices made by the Greek people are paying off, with the first signs of recovery this year,” Deputy Finance Minister Christos Staikouras said…“The conditions are being created for Greece’s return to international markets within 2014”…if Greece can fight its way back, there’s obviously hope for the Venture Exchange…

North America

The Dow is up 65 points through the first hour of trading…applications for unemployment benefits in the U.S. declined to the lowest level in almost two months, though this number may have been skewed by the Veterans’ Day holiday…jobless claims in the week ended Nov. 16 dropped by 21,000 to 323,000, the fewest since the week ended Sept. 28, from a revised 344,000 the previous week, the Labor Department said this morning…the median forecast of 47 economists surveyed by Bloomberg called for a drop to 335,000…

The TSX is 26 points higher as of 7:30 am Pacific, while the Venture has gained 4 points to 919…it’s important to note that the Venture’s 100-day moving average (SMA) has reversed to the upside, after being in decline virtually all year, and this positive technical development gives the Venture some helpful additional support at the moment…

Barisan Gold Corp. (BG, TSX-V)

Barisan Gold traded in the “sweet spot” yesterday – right in between the 15 to 20 cent Feb. retracement level – before closing the session up 2.5 cents at 21.5 cents…we’re not too keen on Indonesia, where Barisan recently drilled a whopper of a hole (904 m grading 0.50% Cu Eq, including a zone of 1% CuEq over 262 m), but we can’t help but think speculation (and potential additional results) could drive BG significantly higher before year-end as drilling continues at the Upper Tengkereng prospect…the company has not yet drilled down to the potassic zone and associated bornite mineralization of the Upper Tengkereng porphyry system where higher grades are usually intersected, so this has a chance of getting a lot more interesting in the weeks ahead…

Technically, BG has been slowly unwinding an overbought condition that emerged just recently when the stock climbed as high as 33 cents where it met Fib. resistance…that was also a nearly 2-year high for the stock…so right now, strong support exists between 15 and 20 cents, while resistance is in the low 30’s…a breakout through the low 30’s would suggest a move to Feb. Set #2 as outlined by John in this 2+ year weekly chart…as of 7:30 am Pacific, BG is up a penny at 22.5 cents…

LXV Ventures (LXV, TSX-V)

Fib. levels worked well with LX Ventures Inc. (LXV, TSX-V) yesterday as it confirmed Tuesday’s breakout above the important Fib. 46-cent level…the social media darling closed 13.5 cents higher at 61 cents, a 43% premium to the financing price announced November 15…below is an updated 2.5-year weekly LXV chart from John including a new Fib. level to watch for…RSI(14) at 82% is in overbought territory, so there will be volatility and traders do need to be careful…as we noted yesterday, though, LXV does have some power behind it…as of 7:30 am Pacific, it’s up 3 cents at 64 cents after climbing as high as 68 cents…

Magor Corp. (MCC, TSX-V)

A technology play that hasn’t had its day in the sun yet is Magor Corp. (MCC, TSX-V), though it is showing signs of turning the corner…Magor has an all-star team behind it that includes some of the key players that built Newbridge Networks…MCC is now in the process of launching its Aerus cloud-based video collaboration services through major global carriers and solutions integrators, and if this launch is successful – watch out…the potential profit margins in this are high and MCC will take off if Aerus gains traction…

Technically, MCC’s 50-day moving average (SMA) is now reversing to the upside and that’s a strong clue that this play could finish the year on a very positive note…volume needs to pick up substantially…40 cents is key resistance at the moment…RSI(14) is showing momentum…MCC closed yesterday at 38 cents (no trades yet this morning)…

Zenyatta Ventures Ltd. (ZEN, TSX-V)

Zenyatta Ventures (ZEN, TSX-V) managed to hold critical support at $2 in October, and we’ll now see how it handles Fib. resistance levels in the $3.30’s and $3.70’s…ZEN is off 6 cents at $3.34 as of 7:30 am Pacific…RSI(14) is showing strong momentum on this 6-month daily chart…support around $3…

Note: Jon holds a share position in MCC.

Gold has hovered between $1,255 and $1,277 in advance of today’s October Fed minutes…as of 7:30 am Pacific, bullion is off its lows but down $11 an ounce at $1,264…Silver is off 6 cents at $20.28…Copper is flat at $3.16…Antofagasta Plc, the Copper company controlled by Chile’s billionaire Luksic family, predicts global supply and demand will remain in balance longer than previously thought on project delays and an increase in orders…Crude Oil is down nearly 50 cents at $92.86 while the U.S. Dollar Index has climbed one-quarter of a point to 80.78…

Gold Fields announced a return to profitability yesterday for the quarter ending September 30 ($9 million) vs. a net loss of $129 million in the June quarter…like many producers, the company is also significantly reducing the scope of its greenfields exploration activities – their 16 projects around the world will be cut to a much smaller nucleus…all these cutbacks in exploration by producers and juniors alike will serve to limit the number of future discoveries and new potential mines that eventually can come on stream which has to be considered bullish for long-term prices…

As far as this year is concerned, output from the world’s Gold mines is expected to hit record highs according to GFMS analyst William Tankard in a report from Reuters…“What we’re seeing is an ongoing response not to the slide in prices, but the decade-long stretch of fairly heavy capital investment into the mining industry that preceded it”, Tankard stated…the world’s top three Gold miners – Barrick Gold, Newmont Mining and AngloGold Ashanti – all reported higher production in the most recent quarter…metals consultancy Metals Focus says it expects Gold mine output to break through 3,000 tonnes a year in 2014 for the first time…that compares with an estimated 2013 output of 2,920 tonnes and 2012’s 2,861 tonnes, according to GFMS…global Gold production could start moderating in 2015…Thomson Reuters GFMS expects average all-in costs easing back to around $1,200 an ounce in 2013 from $1,228 last year…

Fed Minutes In Spotlight, Market Weighs Bernanke Comments

The U.S. Federal Reserve’s FOMC minutes from its October meeting will be released later toay (11:00 am Pacific), and as always traders and investors will be scrutinizing the report for any fresh clues on Fed monetary policy moves upcoming…some strategists do not expect to see much, if any, discussion of slowing bond purchases, but traders have been handicapping whether the minutes will show more Fed members leaning toward tapering…

Speaking last night at the National Economists Club in Washington, Ben Bernanke said the U.S. economy remains far from where the Fed wants to see it and that the central bank is still committed to its stimulus policies…Bernanke gave no hint as to precisely when Fed policymakers might begin cutting back the $85 billion a month bond-buying program, saying they remain “committed to maintaining highly accommodative policies for as long as they are needed”…he did state, however, that the FMOC “still expects that labour market conditions will continue to improve and that inflation will move towards the 2% objective over the medium term…if these views are supported by incoming information, the FOMC will likely begin to moderate the pace of purchases”…

Other comments from Bernanke last night (his first substantive monetary policy speech since March, although he has testified to Congress several times, and it could be the last such speech he gives before stepping down as Fed chairman in January) – typical Fedspeak…

“The economy has made significant progress since the depths of the recession.  However, we are still far from where we would like to be, and, consequently, it may be some time before monetary policy returns to more normal settings.”

“I agree with the sentiment, expressed by my colleague Janet Yellen at her testimony last week, that the surest path to a more normal approach to monetary policy is to do all we can today to promote a more robust recovery.”

“In particular, the target for the federal funds rate is likely to remain near zero for a considerable time after the asset purchases end, perhaps well after the unemployment threshold is crossed and at least until the preponderance of the data supports the beginning of the removal of policy accommodation.”

Today’s Markets

Asian markets were mixed overnight…China’s Shanghai Composite gained 13 points to close at its highest level in over a month at 2207…currency movements were in focus after China’s central bank said it plans to make the yuan more easily traded, which could mean increased strength for the currency…

European shares were down slightly today…

In New York, the Dow is up 26 points as of 7:30 am Pacific….it has breached the 16000 level for the first time the last two trading sessions but has failed to close above it…a gauge of U.S. consumer spending rose more than expected in October as households bought a range of goods…the Commerce Department reported this morning that retail sales excluding automobiles, gasoline and building materials increased 0.5% last month after advancing 0.3% in September…other economic data released this morning wasn’t as encouraging as existing home sales fell 3.2% vs. an expected increase…the consumer price index, meanwhile, fell 0.1% last month, down from a 0.2% gain in September…the October decrease was primarily due to a 2.9% drop in gasoline costs, the largest since April…over the last 12 months, overall prices have increased 1%, well below the Federal Reserve’s inflation target of 2%…excluding volatile energy and food costs, so-called core prices rose 0.1% in October from September and just 1.7% over the past 12 months…

Dow Chart

Below is a technical snapshot of the Dow in a 14-month daily chart from John…the Dow is susceptible to a minor pullback to unwind temporarily overbought conditions…the 50-day SMA, currently at 15530, can be expected to provide strong support…after the kind of performance the Dow has put in so far this year, it’s hard to go against the overall trend at the moment and it would be unusual to see a weak finish in December…the first quarter of next year could be more volatile…

LX Ventures Inc. (LXV, TSX-V)

Social media play LX Ventures Inc. (LXV, TSX-V) has been a strong performer of late, and below is an LXV chart as requested by some of our readers…some investors  prefer to “chase” stocks and catch the flavor of the day, and that’s what may be happening here at the moment as LXV has doubled over the past couple of weeks to a new all-time high…that’s not to say this won’t turn out to be an extremely successful play, and the huge increase in volume since late October is certainly impressive…LXV has some power behind it…in situations like this, the 10 and 20-day moving averages (SMA’s) will typically provide support, so watch for that…at 77%, RSI(14) is clearly overbought – could still pop a little higher but will need to unwind soon….LXV closed slightly above a Fib. target (46 cents) yesterday which could be significant…confirmation of this potential breakout would be required today…LXV fell as low as 45.5 cents in early trading but is now up a penny at 48.5 cents as of 7:30 am Pacific…

Wanted Technologies Corp. (WAN, TSX-V)

Venture companies that can turn a profit can also be lucrative for investors…we’ve certainly seen that with Macro Enterprises (MCR, TSX-V) which we brought to our readers’ attention last spring, and it has more than doubled in price since then…readers may wish to perform their due diligence on WANTED Technologies Corp. (WAN, TSX-V), but keep in mind how overbought the RSI(14) currently is on this long-term weekly chart…the 10 and 20-day moving averages (SMA’s) – currently at $1.07 and 96 cents, respectively – have been providing excellent support on pullbacks…WAN traded as high as $1.31 shortly after the open, but quickly retreated to $1.15 on profit-taking…as of 7:30 am Pacific, it’s down 8 cents at $1.18…

WANTED is headquartered in Quebec City with subsidiary offices in New York…it provides real-time business intelligence for the talent marketplace, and it’s also the exclusive data provider for the Conference Board’s Help-Wanted OnLine Data Series™, the monthly economic indicator of hiring demand in the United States…only 24 million shares outstanding…

Global Cobalt Corp. (GCO, TSX-V) Update

Global Cobalt (GCO, TSX-V) announced this morning that it has mobilized a third drill rig on its Karakul Cobalt Project in the Altai Republic, Russia…“Global Cobalt is now drilling with 3 drill rigs in an effort to provide, as quickly as possible, resource definition drill assay information necessary for the next step of evaluation,” the company stated in its news release this morning…

Expect continued volatility in GCO which has been acting according to script recently – unwinding a temporarily overbought condition after rocketing from 4 cents to 23 cents in just 17 trading sessions (Oct. 22 to Nov. 13)…GCO found support yesterday at its rising 20-day SMA, closing at 15 cents…this morning’s news should keep support at that level, but the potential downside risk from a technical perspective appears quite limited (11 cents based on Fib. analysis) based on John’s 3-month daily chart…the overall uptrend remains firmly intact…GCO is up half a penny at 15.5 cents as of 7:30 am Pacific…

Note: John, Terry and Jon do not hold positions in LXV, WAN or GCO.

Gold has traded between $1,269 and $1,280 so far today…as of 7:30 am Pacific, bullion is up $1 an ounce at $1,277…Silver has advanced 4 cents to $20.44…Copper is a penny higher at $3.17…Crude Oil is flat at $93.04 while the U.S. Dollar Index is off slightly at 80.68…

A Gold vault capable of storing 2,000 metric tonnes, or twice the amount of China’s expected demand this year, has opened in Shanghai and is seeking to benefit from rising physical demand in Asia’s largest economy…the facility is a major vote of confidence for the Chinese Gold market, according to Philip Klapwijk of Precious Metals Insights (www.PreciousMetalsInsights.com)…in addition, as recent World Gold Council data has shown, China’s demand for Gold jewelry, bars and coins continues to rise at a very robust rate…90% of year-to-date growth in consumer demand for bullion came from China and other eastern markets…both Klapwijk and two Bloomberg research analysts have come to the conclusion that the People’s Bank of China (PBOC) has taken 300 tonnes of Gold into reserves in the first half of the year, just under 15% of global supply…the key highlight of the report is that the conclusion was reached independently…at such a massive rate of accumulation, China could match or even surpass U.S. Gold reserves within the next 10 years…

Some believe that Chinese Gold consumption and imports are both running at considerably higher levels than data from GFMS and the World Gold Council would suggest…check out an article on that this morning by Lawrence Williams at www.MineWeb.com…

“In China, you look around and see very few places to put your money,” Duan Shihua, a partner at Shanghai Leading Investment Management Co., told Bloomberg…“With the share market down and the government nudging people away from real estate, Gold will remain a favored choice”…

Bitcoin Going Mainstream?

The virtual currency bitcoin took a big step toward the mainstream yesterday as U.S. federal authorities signaled their willingness to accept it as a legitimate payment alternative…CNBC reported that a number of federal officials told a Senate hearing that such financial networks offered real benefits for the financial system even as they acknowledged that new forms of digital money had provided avenues for money laundering and illegal activity…“There are plenty of opportunities for digital currencies to operate within existing laws and regulations,” said Edward Lowery, a special agent with the Secret Service, which is tasked with protecting the integrity of the dollar…

Signs that the government would not stand in the way of bitcoin’s development, even as it has been cracking down on criminal networks that use the digital money, stoked a strong rally in the price of the crypto-currency…last night, the value of a bitcoin unit soared past $700 on some exchanges…the total outstanding pool of bitcoin, created by a network of online operators, is now worth more than $7 billion…“The decision to bring virtual currency within the scope of our regulatory framework should be viewed by those who respect and obey the basic rule of law as a positive development for this sector,” said Jennifer Shasky Calvery, the director of the Treasury Department’s Financial Crimes Enforcement Network…“It recognizes the innovation virtual currencies provide, and the benefits they might offer”…

Meanwhile, an Allentown, Pennsylvania, shop has made history of sorts by becoming one of only two Subways in the world – the other is in Moscow – to accept bitcoin for payment…

Bottom For Key Base Metals Approaching:  Scotiabank’s Mohr

“I think we’re approaching the bottom in this cycle…I’m hoping that we’ll see the bottom for some of the key base metals in early 2014,” Scotiabank’s commodity market specialist Patricia Mkohr told delegates at the recent Mine Latin America conference…she’s particularly bullish regarding Zinc…“I think Zinc will be the next big base metal play because of mid-decade mine depletion around the world and because of probable smelter bottlenecks developing in China,” she stated…“It’s something the juniors should look at and get involved in”…Mohr is also generally bullish on the prospects for China…an important factor that will have an indelible effect on commodities through the balance of the decade is the on-coming surge in China’s vehicle ownership, Mohr stated, which stood at just 81 vehicles for every 1,000 people in 2012…this compares with the U.S. figure of 794 cars for every 1,000 people…“I guarantee that everyone in China wants to own their own motor vehicle…they are tripling the number highways to allow greater vehicle ownership…this is going to be a great growth sector…it’s very metal intensive and very gasoline intensive”…

OECD Cuts Global Growth Forecast

The OECD today knocked almost half a percentage point off its forecasts for global growth this year and next, blaming a slowdown in emerging markets, brinkmanship over the U.S. debt ceiling and concerns over the Federal Reserve’s tapering for the downgrade…the Paris-based organization promoting the world’s largest advanced economies said the global economy would expand 2.7% this year and 3.6% in 2014, compared with estimates of 3.1% and 4% made in May…

Today’s Markets

China’s Shanghai Composite took a breather overnight after strong gains Friday and Monday…the Index fell 4 points to close at 2193…a 9-month daily chart from John shows how the Shanghai has hit the top of a downsloping flag around 2200 – if it can break above this, look out…

European shares were down modestly today…in New York, the Dow is up 30 points through the first hour of trading…the TSX has gained 14 points while the Venture has added 3 points to 925 as of 7:30 am Pacific…

Barisan Gold Corp. (BG, TSX-V)

Technically, Barisan Gold (BG, TSX-V) is performing according to script after John’s recent chart showed initial resistance on a powerful move in the low 30’s, and then a possible retracement to the 15 to 20 cent area (38.2% to 61.8% Fib. retracement levels)…yesterday, BG closed at 20 cents…while Barisan is not operating in one of our favorite jurisdictions (Indonesia), its recently reported drill intercept there (904 m grading 0.50 CuEq) was world class and drilling continues…over the next couple of months, Barisan could garner a lot more attention – especially if they continue to deliver strong results…worth watching closely…as always, perform your own due diligence…as of 7:30 am Pacific, BG is up half a penny at 20.5 cents…

Madalena Energy Inc. (MVN, TSX-V)

One of our favorite energy plays continues to be Madalena (MVN, TSX-V) which has weakened in recent days due to the announcement of a couple of financings – a bought deal at 47 cents ($8 million), and a $3 million flow-through financing at 54 cents…Madalena is well-positioned for a successful 2014, and the stock has excellent support in the 40’s around current levels…the rising 100-day SMA, not shown on John’s chart below, is currently at 42 cents…2013 has been a year of accumulation in this play which bodes well for an important potential breakout in the coming months…MVN is off half a penny at 45.5 cents through the first hour of trading…

Azincourt Uranium Inc. (AAZ, TSX-V)

It should be an interesting winter for Azincourt Uranium (AAZ, TSX-V) which is in a 50-50 JV with Fission Uranium Inc. (FCU, TSX-V) on the Patterson Lake North Property…as announced yesterday, eight to 10 holes will be drilled at PLS North over the winter (2,500 to 3,000 metres) testing the following:

• A north-northwest-trending central conductive metasedimentary belt;
• Geophysical anomalies under Hodge Lake;
• A prospective north-northwest-trending conductor.

Additional geophysics work will be completed in advance of the drilling to follow up the strong results delivered by the recent airborne survey, and to assist further in drill target selection…the work will include using radon sampling in frozen ice conditions – similar to the technique used at PLS South…

Below is a 15-month AAZ updated chart from John…the stock has traded in a horizontal channel since May between 20 cents and 33 cents…it’s reasonable to expect a breakout by January, at the latest…as of 7:30 am Pacific, AAZ is trading down half a penny at 28.5 cents…

Note: John, Terry and Jon do not currently hold positions in BG, MVN or AAZ…

Gold has traded between $1,277 and $1,289 so far today…as of 7:30 am Pacific, bullion is down $9 an ounce at $1,281…for now it appears to be range-bound between $1,250 and $1,350 until a catalyst triggers either a breakout through $1,350 or a plunge to test the June low…Silver is off 18 cents at $20.60…Copper is flat at $3.17…Crude Oil is down 6 cents at $93.78 while the U.S. Dollar Index has slipped one-quarter of a point to 80.64…

Lots of nuggets of information in the World Gold Council’s latest quarterly report on Gold issued last week…Frank Holmes, in his weekly Investor Alert at www.usfunds.com, pointed out that, “What’s interesting about Gold demand today is that more and more investors around the world are buying higher-end, more expensive Gold. Specifically in China, 24-karat Gold jewelry and ‘four nines’ Gold gained market share in the third quarter.

“Four nines is named for the almost pure Gold content of 99.99%; in comparison, 24-carat jewelry has a purity of 99.95%. According to the WGC, four nines Gold is ‘unique to China and has proved to be most popular with consumers in lower tier markets and rural areas, again reflecting the investment qualities offered by such jewelry.’

“I point this out because investors should take note of the emerging trend for luxury goods as a result of growing incomes in emerging markets around the world.”

Gold Accumulation – People’s Bank Of China

Just how much Gold has the Chinese government been accumulating recently?  Minweb’s Lawrence Williams explored this issue recently at www.mineweb.com.  “The Bloomberg data, which has been available on Bloomberg terminals since mid October, puts a more precise figure on this, suggesting that in the current year the PBOC will likely add some 620 tonnes into its Gold reserves, and possibly even more next given the current lower Gold price.  China can do this without reporting the increase to the IMF by the simple mechanism of holding the newly acquired Gold in a separate account from its official reserves and only transferring it into the official reserve when it deems it timely, or politically expedient, to do so.  This is exactly what happened in 2009 when China announced an increase in its Gold reserve from 600 tonnes to 1,054 tonnes with the Gold having been acquired over the prior five years.

“It thus seems increasingly likely that China has been steadily accumulating Gold since its last gold reserve announcement, but again not reporting the figures – indeed even denying that it has been doing so – surely a question of interpretation if it is working in the same manner as in the five years prior to its 2009 reserve update?  However, there is plenty of Chinese domestic evidence that it may indeed be increasing its reserves, not least a number of statements from Chinese officials and academics calling for official Gold holdings in line with the size of the country’s growing economy – and in China few such statements are made without government approval.

In particular, Bloomberg notes the recent call in an editorial on state-run Chinese news agency, Xinhua, calling for a ‘de-Americanized world’.  Amidst some scathing comment on what the writer referred to as a hypocritical nation, the following paragraph is perhaps considered as particularly pertinent in relation to China’s believed interest in building its gold holdings: “What may also be included as a key part of an effective reform is the introduction of a new international reserve currency that is to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States.”

“Why should this be pertinent to China’s Gold holdings?  It is felt by the Chinese, and many others, that  a strong national Gold holding, perhaps even matching or exceeding that of the U.S.’s official 8,133.5 tonnes, would put the yuan in a particularly strong position to be at least a part of any new global reserve currency which may be set up, even if not replacing the dollar altogether.  Indeed the Bloomberg research suggests that at the current accumulation rate it would take China only 10 years to bring its Gold holdings up to the U.S. level – indeed some observers think this could be done even more rapidly and that it may be over half way there already.”

Eastern Consumer Demand For Gold At All-Time High, Helps Counter ETP Selling

Consumer demand for Gold via jewelery, bars and coins is at an all-time record high, fueled almost entirely by purchases from the east according to the WGC…“The vast bulk of the year-to-date growth in consumer demand for Gold came from Eastern markets; 90% of the 605-ton increase was accounted for by Middle Eastern and Asian consumers, as Gold continued to flow from West to East,” the report said…

Gold needs all the help it can get from Asian and Middle Eastern consumes, along with the PBOC.  Gold ETP’s in 2013 have turned into a source of significant supply, releasing 650 tonnes so far this year which is the equivalent of adding 17% to 2012’s global Gold supply…in addition, the most recent data by the IMF shows that in the first eight months of the current year central banks added Gold at the slowest pace since the start of the financial crisis…

Today’s Markets

China’s Shanghai Composite surged 61 points or nearly 3% overnight to close at 2197 as investors gave the country’s broad-based reform plans from the Third Plenum, announced in more detail late Friday, a thumbs up…these plans include easing of the the one-child policy, implementing residence registration reforms, allowing market pricing of key resources and further financial liberalization…“The reform package will have a long-lasting positive impact on China’s equity market outlook,” Deutsche Bank said in a report, forecasting the MSCI China index would rise 20-25% over the next 12 months…

European shares were moderately higher today, boosted by euro zone trade surplus data…

In New York, the Dow has topped 16000 for the first time…it’s up 48 points through the first hour of trading…the TSX has added 13 points while the Venture is unchanged at 934 as of 7:30 am Pacific…

Updated CDNX Chart

A stretch of 12 losing sessions out of 13, which ended last Thursday, interestingly didn’t put a dent into the Venture 3-year weekly chart…as you can see below, RSI(14) is at support along a climbing trendline…buy pressure (accumulation) remains steady, and most importantly the downtrend line that was in place for more than two years is now providing support…if you recall, the Venture broke above this downtrend line on the 3-year weekly chart in late October…a 100-day SMA that is now gently rising to the upside is also helping the Index which has built a solid foundation of support in the 920’s…below that, the 900 area is also very strong…

The U.S. Dollar Index – Going Higher Or About To Plummet?

Junior resource investors have to keep a close eye on the U.S. Dollar Index, particularly between now and the end of the year…technically, one can argue that the Dollar Index is quite vulnerable over the near-term (1-3 months) to a breakdown below key support at 79…this would have important ramifications for both the Venture and Gold which tend to move in the opposite direction of the greenback…Janet Yellen, of course, takes over as Fed Chairman at the end of January, and her comments last week on Capitol Hill solidified the belief in the minds of many that she’s actually more dovish than Ben Bernanke and isn’t too keen on any imminent scaling back of the Fed’s $85 billion per month bond-buying program…

The Fed's balance sheet will top $4 trillion by early 2014 as Yellen takes over from Ben Bernanke.

Dollar Index 2.5-Year Weekly Chart

In September, the Dollar Index broke below 2+ year uptrend on the weekly chart…currently, the Index is in a trading band between very strong support at 79 and stiff resistance at 81…significantly, the 200-day moving average (SMA), or MA-40 as displayed with the blue line on John’s weekly chart, has flattened out at 81.89 (more resistance) and is threatening to turn lower within the next month or two unless the Index can jump on its horse very quickly and really begin to gallop…that is possible but would likely require a Fed tapering surprise…

The combination of the Dollar Index falling below an uptrend, and the Venture finally pushing above a downtrend, is quite possibly more than just coincidence…the next four to eight weeks should confirm if these technical developments are merely temporary blips or represent a truly significant shift out of a Venture bear market and into renewed Dollar weakness…

24-Year Monthly Dollar Index Chart

Below is a 24-year monthly Dollar Index chart that shows how the Index met resistance at a downtrend line in late June, right at the same time as Gold and the Venture both hit their respective lows…notice the declining highs in RSI(14) and the critical support at 79…if support at 79 fails, the Dollar Index would be in danger of testing the mid-70’s…

13-Year Copper Monthly Chart

Copper, which came under pressure last week, is also an important yardstick for the Venture…one positive in this long-term Copper chart is a big wall of support around the $3 level, and this really must hold as it did in 2011 and again earlier this year…encouragingly, RSI(14) is currently very close to long-term support, so the recent weakness appears to be just normal market behavior (range trading)…a break below $3 a pound doesn’t make sense unless the global economy implodes…

Crude Oil 2.5-Year Weekly Chart

WTIC has taken a beating in recent weeks (down 15% since early September) due to supply concerns…this 2.5-year weekly chart, however, shows that Crude is underpinned by very strong support between $87.50 and $92.50 after reacting at resistance at $110, and RSI(14) is already flattening out at previous support…so a turnaround appears to be in the works…one must never forget that the Middle Easy is always volatile and full of potential surprises – an Israeli attack on Iran’s nuclear infrastructure can’t be ruled out, for example…

Silver Short-Term Chart

Silver has strong support around the $20.50 level which was initial resistance after the first move from the late June low…over the immediate future, look for Silver to be range-bound like Gold, likely between $20.50 and $21.50, until a catalyst triggers a major move in one direction or the other…

Silver Long-Term Chart

A 11-year monthly chart for Silver confirms strong support around the $20 level, so there’s every reason to believe the mid-year low will hold as the metal tries to build a base for a move higher…

TSX Venture Exchange and Gold

Despite enduring a stretch of 12 losing sessions out of 13, dating back to October 28, the Venture continues to hold strong support around the 930 level and its now gently-rising 100-day moving average (SMA).  Last week, the Index fell as low as 921 intra-day Wednesday before reversing and finishing the week at 934, a 3-point loss from the previous Friday.

There are plenty of reasons for encouragement with regard to the Venture entering 2014.  John will update the 3-year weekly chart tomorrow.  It still shows the RSI(14) climbing an uptrend line, with the previous resistance of the 2+ year downtrend line now providing support (the Index broke above this major downtrend in late October).  The Venture tends to go in the opposite direction of the U.S. Dollar Index.  The greenback continues to look bearish and we’ll expand on that tomorrow as well.

Below is a 3-month daily Venture chart from John.  RSI(14) has found support and is now moving higher.  The SS indicator (%K) is reversing to the upside as well which is positive.

The Seeds Have Been Planted (And Continue To Be Planted) For The Next Big Run In Gold Stocks

There’s no better cure for low prices than low prices.  The great benefit of the collapse in Gold prices this year is that it forced producers (at least most of them) to start to become much more lean and mean in terms of their cost structures. Producers, big and small, have started to make hard decisions in terms of costs, projects, and rationalizing their operating structures.  Exploration budgets among both producers and juniors have also been cut sharply.  In addition, government policies across much of the globe are making it more difficult (sometimes impossible) for mining companies to put Gold (or other) deposits into production, thanks to the ignorance of many politicians and the impact of radical and vocal environmentalists.  Ultimately, all these factors are going to create a supply problem – think about it, where are the next major Gold deposits going to come from? On top of that, grades have fallen significantly just over the past decade.

It doesn’t take a rocket scientist to figure out that the next huge bull market in Gold stocks is just around the corner due to demand-supply dynamics, much leaner producers who will suddenly become earnings machines, and a junior market that will be healthier simply because a lot of the “lifestyle” companies sucking money out of investors will simply disappear or get taken over by individuals or groups who are actually competent and serious about building shareholder value.   A healthy “cleansing” in the market has been taking place.  As this continues, more and more seeds are being planted for an incredible future move in well-managed Gold producers and explorers that could make the dotcom bubble look like a tea party.  As for the juniors, focus on the small universe of companies that have the ability to execute both on the ground and in the market.

Gold

Comments from incoming Fed Chairman Janet Yellen gave Gold a boost last week after it briefly hung around the $1,260 level.  Gold ended the week unchanged at $1,290, and it’s obvious that it continues to be range-bound between about $1,250 and $1,350 until a catalyst drives it outside of those boundaries – either up or down.  At this point, we tend to believe that Gold will surprise to the upside by year-end given the behavior of the Venture and the technical posture of the U.S. Dollar Index.  Yellen appears to be even more dovish in her views than Ben Bernanke, a fact that we believe spells trouble for the greenback and virtually guarantees the Fed will error on the side of the caution with regard to “tapering”.  Don’t expect the Fed to begin scaling back its bond-buying program until well into 2014.  The political environment in Washington, which could get even more poisonous, also won’t be conducive to Fed tapering.  Another budget battle is looming, and President Obama’s unwise attempt at social engineering in the form of a botched, disastrous health care system revamp is going to further embolden Republicans.

On the demand side, the continued shift of Gold from western hands into eastern hands is almost startling, and this has long-term bullish implications for bullion.  Last week, the World Gold Council pointed out that consumer demand for Gold via jewelry, bars and coins for the first nine months of the year hit a record of 2,896.5 tons. This was helped along, of course, by lower prices that made Gold more affordable for consumers.  “The vast bulk of the year-to-date growth in consumer demand for Gold came from Eastern markets; 90% of the 605-ton increase was accounted for by Middle Eastern and Asian consumers, as Gold continued to flow from West to East,” the report said.

A picture tells a thousand words.  Physical demand for Gold in China is at an all-time high.  Asians tend to be longer-term holders.  They are increasingly soaking up supply from the west.  What ultimately is going to occur is that the “east” – China in particular – will be in control of revaluing Gold at a much higher price.  Many American analysts especially just don’t get it.  They can’t see beyond the borders of the United States.

Below is a 3-month daily Gold chart update from John.  Nothing dramatic here, but the ADX indicator suggests the recent bearishness that drove Gold down to $1,260 last week has peaked.

Silver fell 73 cents last week to close at $20.78 (John will have updated Silver charts Monday morning as usual).  Copper slid 8 cents on supply concerns to finish at $3.17.  Crude Oil slipped again, falling 76 cents a barrel to close at $93.84.  The U.S. Dollar Index, meanwhile, couldn’t sustain a move above 81 and finished the week down nearly half a point at 80.81.  In September, the Dollar Index broke below a 2.5-year uptrend on the weekly chart, so it faces considerable overhead resistance as witnessed last week.

The “Big Picture” View Of Gold

As Frank Holmes so effectively illustrates at www.usfunds.com, the long-term bull market in Gold has been driven by both the Fear Trade and the Love Trade.  The transfer of wealth from west to east, and the accumulation of wealth particularly in China and India, has had a huge impact on bullion.  Despite this year’s drop, the fundamental long-term case for Gold remains incredibly strong – currency instability and an overall lack of confidence in fiat currencies, governments and world leaders in general, an environment of historically low interest rates, a Fed balance sheet now in excess of $3.5 trillion and expanding at $85 billion a month, money supply growth around the globe, massive government debt from the United States to Europe, central bank buying, flat mine supply, physical demand (especially from China), emerging market growth, geopolitical unrest and conflicts…the list goes on.  However, deflationary concerns around the globe and the prospect of Fed tapering by the end of the year (not likely now) had a lot to do with Gold’s plunge during the spring below the technically and psychologically important $1,500 level, along with the strong performance of equities which drew money away from bullion.  June’s low of $1,179 may have been the bottom for bullion – time will tell.  We do, however, expect new all-time highs as the decade progresses.  There are many reasons to believe that Gold’s long-term bull market is still intact despite this major correction from the 2011 all-time high of just above $1,900 an ounce.

Welcome to our site, or at least the initial version of it!  BMR has been online for more than 4 years and strictly through word-of-mouth we have built a loyal following.  We encourage reader feedback and the exchange of helpful opinions and ideas among investors in our forum. 

We’re continuing with our plans to ultimately construct a very unique investment and money-management resource site that goes considerably beyond what we have now.  We focus a great deal on the Gold, Silver and Copper markets as well as trends in the global economy, in addition of course to the technical health of the TSX Venture Exchange (CDNX).  An important component of this site, as well, will always be original research on high quality junior exploration companies or small producers that offer very real and significant upside potential. We are extremely selective in the companies we feature and put forward to investors – we prefer quality over quantity, and we are being more selective than ever in the current market environment.  We look for companies with the ability to execute both on the ground and in the market, who are determined to build shareholder value, which actually excludes most Venture stocks.  However, investors must understand that the companies we do put forward for our readers’ due diligence are still highly speculative situations and entail considerable risk, volatility and unpredictability.

Our intent is to provide you with information that you can use as part of your own due diligence.  Our stock coverage is for informational and entertainment purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. We are not Registered Securities Advisers. Our opinions can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Adviser operating in accordance with the appropriate regulations in your area of jurisdiction. Always perform your own due diligence and please read our disclaimer at the bottom.

We use a combination of fundamental and technical factors in determining the value and potential of a stock.  In terms of fundamentals we look for a company with a superb project supported by strong management.  Management must possess integrity, solid ethics and a determination to succeed and build shareholder value.

At BullMarketRun (BMR) we approach the handling of money from a biblical perspective and this is an important topic we will be sharing with our readers (and listeners) as the site continues to develop. The Bible teaches so much about money and how to handle it and invest it –  there are literally thousands of verses on how we should handle the money and possessions that God entrusts us with.  By examining the life of Jesus and reading the Word of God, we can all become fully equipped to be successful investors and handle money wisely.  We have a God who thinks big – He created the universe – and He wants us to think big  in every area of our lives.  When we handle money from a Biblical perspective (His money that we have been given stewardship of), He will bless you.  This all begins, of course, with a personal relationship with Jesus Christ by accepting Him as your Lord and Savior and putting Him at the throne of your life.  It is the most important decision you’ll ever make.

God Bless,

Terry Dyer

Owner/Publisher, www.BullMarketRun.com

Disclaimer:

BullMarketRun.com (BMR) is completely independent from any companies it covers.  BMR accepts no compensation of any kind from any groups, individuals or corporations for coverage of any company mentioned on this site.  We accept no advertising either.  Our stock coverage is for informational and entertainment purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. No investment opinion or other advice is being rendered on any stock or company. We strongly recommend that you consult with a qualified investment adviser, one licensed by appropriate regulatory agencies in your legal jurisdiction, and do your own due diligence and research before making any investment decisions. The stocks we cover, by definition, are highly speculative and potentially very volatile. Investors are cautioned that they may lose all or a portion of their investment if they make a purchase or short sale in these speculative stocks.  We are not Registered Securities Advisers. Our opinions can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Adviser operating in accordance with the appropriate regulations in your area of jurisdiction. It should be assumed that BMR personnel, writers and their associates may hold or dispose of or trade in positions in any securities mentioned herein at any time.  Owner/Publisher of BullMarketRun.com is Terry Dyer of Langley, British Columbia.

Forward Looking Statements:

All statements in BMR’s reports, other than statements of historical fact, may be forward-looking statements. These statements relate to future events or future performance. Forward-looking statements are often but not always identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.