BullMarketRun.com

Gold has hit a fresh 7-week high this morning…as of 8:20 am Pacific time, the yellow metal is up $6 an ounce to $1,235…bulls have clearly seized momentum with Gold and a test of the all-time high can’t be far off…the Dow is down over 100 points but of course we keep our eye on the CDNX which is bucking the broad market trend and is holding steady, up a point at 1471…in a significant development, the CDNX’s 50-day moving average has swung positive after a 3-month decline…the big test for the CDNX will be getting through resistance at 1500 where both the 100 and 200-day moving averages are resting at…Gold Bullion Development (GBB, TSX-V) is up a penny to 51 cents with bargain hunters stepping in this morning…Jordan Capital has been on the buy side which should put the nervous nellies at ease…those who understand this story and have done their research will wisely keep the faith…stay focused on the big picture that continues to develop with Gold Bullion…bargain hunters should also be keeping a watch on Seafield Resources (SFF, TSX-V) which is off a penny to 15.5 cents this morning…we don’t expect much out of Seafield until sometime next month but we are very bullish on the fundamentals for this company as it continues to drill its Quinchia Gold Project in Colombia…the risk-reward ratio at current levels is certainly very attractive…Seafield’s current market cap is only $15 million and the company itself has stated it believes it can show an inferred resource of 2 million ounces at Quinchia by year-end with further growth in 2011…we’re keeping a close eye on Excel Mining (EGM, TSX-V) which is unchanged at 16.5 cents…Excel holds what we believe is a very underrated property package in Quebec, the Montauban Mining Camp Project (120 kilometres west of Quebec City) which covers an area of more than 130 square kilometres…it includes the former producing Montauban Mine which has an historical resource and features near-surface gold, silver, and base metal mineralization…this is a very intriguing geological story and we’ll be reporting much more on it…