TSX Venture Exchange and Gold
The Venture has climbed in 9 out of the last 10 weeks and is now above 600 for the first time since July of last year after a 23-point weekly gain to 604. The ease with which the Venture pushed through Fib. resistance at 591 Thursday and Friday suggests the Index has enough momentum to power at least another 5% higher this month to the next Fib. level, 629.
As we’ve been mentioning, all of John’s charts strongly indicate that the Venture is on track for its best year since 2010. The bear market is over, and we’re now in a new cycle when we can invest in this market with much greater confidence. Selectivity as always is critical, but wise investing and trading should yield very solid if not spectacular returns this year. Fundamentally, a few critical things are in the Venture’s favor in 2016: 1) a dovish Fed; 2) a weak U.S. dollar; and 3) a bullish Gold market. Furthermore, it appears Oil bottomed early in the year.
There are many companies with outstanding project portfolios that are still very undervalued and will help the Venture attain significantly higher levels as 2016 progresses. We’ll be seeing more moves like the one Thursday when Probe Metals (PRB, TSX-V) launched a friendly takeover of Adventure Gold (AGE, TSX-V), now up 129% this year.
Tomorrow, we’ll highlight some more up-and-coming 100% gainers in our Sunday Sizzler Report for Pro subscribers, including a couple of plays under a nickel. The BMR Top 50 Opportunities List is now up a staggering 60% since early December with no less than 20% of those companies at least doubling in value including one that has soared 392%. Our 7 new additions since late February have already gained nearly 50%.
In today’s Week In Review And A Look Ahead…
1. Latest Venture chart shows one of the most beautiful uptrends in years…
2. The greenback proves the old Wall Street adage: Bulls make money, bears make money, pigs get slaughtered…
3. Bet against Gold right now at your peril…
Plus more…to view the rest of today’s Morning Musings, login with your username and password, or click here to gain full access to this and other exclusive BMR content and features…
Jon: do you see the ‘Sell in May’ etc this year? summer doldrums,etc? thanks!
Comment by STEVEN1 — April 10, 2016 @ 9:07 am
Steven1, I’m hoping we’ll see a modest pullback at some point before the end of Q2, and we should just to cleanse temporarily overbought conditions, but this is unlike any market we’ve seen since 2010. We have startling new Venture Fib. numbers to reveal tomorrow.
Comment by Jon - BMR — April 10, 2016 @ 2:34 pm