BullMarketRun.com

Gold is down again this morning but off its lows of the day…gold touched $1,091.50 an ounce and as of 8:30 am Pacific time is at $1,098, off $10…crude oil is also weak this morning but has recovered some of its losses…it’s currently down just under a dollar per barrel to $79.72…the TSX Gold Index is holding up reasonably well and is down just 2 points at the moment to 319…we believe the HGD, the short Gold Index ETF, is a hedge worth considering at this time for experienced investors…the CDNX has shed 13 points to 1,551, confirming our view expressed over the weekend that a new correction is underway in this market…we believe it’s wise to immediately increase cash levels for portfolio protection purposes and to take advantage of bargains down the road…we are working on a separate article with a very interesting chart to provide more detail on that analysis…Gold Bullion Development (GBB, TSX-V) hit a new 52-week high of 31 cents this morning and is currently trading at 28.5 cents, down half a penny…