BullMarketRun.com

All markets are on the negative side so far today with gold now trying to stabilize around $1,130…gold dropped as much as $14 an ounce this morning to $1,125 but has recovered slightly and is currently off $11 at $1,130 as of 9:00 am Pacific time…with a rising 14-day moving average, and with the TSX Gold Index technically very oversold at 334, we see little chance of a plunge in gold prices at the moment, so this current weakness clearly presents some excellent buying opportunities and a safe entry point in our view…there is very strong technical support for gold at $1,120, and strong technical support for the TSX Gold Index at its 200-day moving average just below 330…the Venture Exchange is off 11 points to 1,585 (its 10-day moving average)…Gold Bullion Development Corporation (GBB, TSX-V) is even so far today at 11 cents…we are extremely bullish on the exploration potential of Gold Bullion’s Granada Gold Property near Rouyn-Noranda, Quebec, and it wouldn’t surprise us if the company released a drilling update sometime today (perhaps even after the market close) prior to the World Resource Conference in Vancouver which it will be attending Sunday and Monday…normally, we’re a little nervous holding on to a stock prior to the release of assay results but in this particular case, given the encouraging clues we saw in Gold Bullion’s December 29 news release, we’re expecting positive results from Granada which could propel this stock significantly higher…the rest of our portfolio is holding up well with Seafield Resources (SFF, TSX-V) up 1.5 cents to .265…Colombian Mines (CMJ, TSX-V) came out with news this morning with some sample results from its El Dovio project in west-central Colombia…the company also reported that the environmental regulator for the Department of Antioquia has visited CMJ’s Yarumalito Gold Property and verbally approved the company’s drill plan…Colombian Mines is now awaiting the written permits to begin site construction and drilling…CMJ is currently up a penny to 93 cents…