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December 22, 2010

BMR Morning Market Musings…

Gold is trading in a narrow range today as volume continues to thin out in advance of the Christmas holidays…as of 7:45 am Pacific, the yellow metal is essentially unchanged at $1,386…Silver is also quiet at $29.27 while the U.S. Dollar Index is flat at 80.71…the CDNX got through resistance as predicted at 2150 yesterday and is currently up 10 more points to 2166…the resistance band John identified runs between 2150 and 2250…the CDNX has an excellent chance of finishing the year above 2250…Gold Bullion Development (GBB, TSX-V) is up 2 cents at 84 cents…there is very strong new technical support for GBB in the upper 70’s and low 80’s….Cadillac Mining (CQX, TSX-V) dropped as low as 33 cents this morning before recovering to a daily high of 36 cents…it’s currently off 1.5 cents at 35 cents…technical support for CQX is rock solid in the low 30’s, so it wasn’t surprising to see it react after touching 33 cents…we’ve seen a healthy pullback of 27% in Cadillac from its recent high of 45.5 cents which helps sets the stage for the next major advance…this is one of our most exciting situations for 2011…things are generally pretty quiet across the board today but Canaco (CAN, TSX-V) hit a new all-time high of $6.19 on the release of more assay results, including 9.5 g/t Au over 51 metres, from its Magambazi Gold discovery in the Handeni region of Tanzania…the stock is currently up 40 cents at $5.82…Canaco’s success certainly bodes well for all companies in the Gold sector in Tanzania where many more significant discoveries are likely to be made in the coming years…within the BMR Portfolio, Currie Rose Resources (CUI, TSX-V) and Sidon International Resources (SD, TSX-V) are well positioned for success…GoldQuest Mining (GQC, TSX-V) is up 2 pennies at 41 cents…as readers know, we are very bullish on the geological prospects for GoldQuest’s La Escandalosa Property in the Dominican Republic…drilling has started at La Escandalosa and will accelerate early in the New Year…GoldQuest’s entire pipeline of projects in the DR hold excellent potential along with its Toral zinc-lead-silver deposit in Spain…2011 could be a major breakthrough year for GoldQuest…

18 Comments

  1. Hi Jon, great analysis as usual. Hard to catch the pullbacks in CQX as they revert back up so quickly. Looking forward to a great 2011 with that one and all the other great picks. GQC & VGN look very exciting at the moment. Wishing all you guys at BMR and all the board contributors a very happy Christmas and hopefully a prosperous New Year.

    Comment by patrick — December 22, 2010 @ 11:47 am

  2. Hello BMR!

    Comments about Currie?? Whats happening?

    Comment by Carl — December 22, 2010 @ 1:17 pm

  3. I’m also wondering what happened with your review on cui. You said you would be reviewing ALL of your holdings, does this
    mean BMR is out of CUI?

    Comment by Pat — December 22, 2010 @ 1:36 pm

  4. Folks….as we posted the other day, we are reviewing ALL companies in the BMR Portfolio from Monday night through Wednesday night. Please be patient. The remaining four are: Currie Rose Resources, Cadillac Mining, Colombian Mines, and GoldQuest Mining. All will be covered this evening. BMR remains extremely bullish on Currie Rose and we expect it will be a standout performer in 2011. Plain and simple. Yes, the stock has fallen a few pennies the last few days – big deal. Makes it even more attractive. We have seen a lot of volatility with CUI and other situations like GBB, SFF, GQC, SD and others. Drops like this are often great buying opportunities. We would never think of removing CUI from the BMR Portfolio – it has incredible potential. We suspect the weakness the past couple of days has been driven by technical factors – there are a lot of traders/investors who simply trade on technicals. The fundamentals remain superb with Currie Rose.

    Comment by Jon - BMR — December 22, 2010 @ 2:04 pm

  5. still didnt answer my question

    Comment by barry — December 22, 2010 @ 2:29 pm

  6. Barry
    Any shares of any stock held by `BMR` are personal shares held
    by Jon, Terry and myself. I will declare if I do hold shares but how many is my business. IMHO. Yes I own shares in CUI.

    Comment by John - BMR — December 22, 2010 @ 2:47 pm

  7. My apologies, Barry….it is extremely busy today. “BMR” doesn’t actually hold securities of any sort. Our model Portfolio is just that. What Terry, John and I do in terms of our personal portfolios is different and readers should not be influenced by whatever we do. In terms of myself, I have no problem disclosing what I personally own as of today in terms of securities that relate to any of the stocks we are following and that is 200,000 shares of CQX, 125,000 shares of GQC, 75,000 shares of SFF, 40,000 shares of AGE, 75,000 shares of VGN, 50,000 shares of EVR, and 25,000 shares of TYE. That could change tomorrow – I am personally very bullish on CUI, especially at these prices, and could be a big buyer tomorrow or at any point in the future. The BMR Portfolio, on the other hand, doesn’t take a short-term view but a long-term view. Personally, I am far from a perfect trader and following what I do is not necessarily advisable. Hope this helps.

    Comment by Jon - BMR — December 22, 2010 @ 2:58 pm

  8. i appreciate your answer but it doesnt answer my question thanks

    Comment by barry — December 22, 2010 @ 3:02 pm

  9. no GBB shares?

    Comment by jeff — December 22, 2010 @ 5:05 pm

  10. John and Terry hold positions in GBB – I don’t at the moment. Don’t read anything into that. GBB is looking great. Focus on our overall coverage, not what we may or may not have individually in a particular company.

    Comment by Jon - BMR — December 22, 2010 @ 5:18 pm

  11. Come on people, this is not a “Simon Says” site whereby we all have to copy what the BMR folks are doing. Simply read what the daily blogs are about, do your own DD and move on. These comments are becoming very lame as we don’t expect BMR to actually trade for us! They obviously are uncovering some Gems and sharing their thoughts and opinions to us for FREE!

    BMR keep doing what your doing and don’t stop because of a few selfish individuals!

    Comment by marc — December 22, 2010 @ 5:49 pm

  12. Good stuff BMR. Thanks for all your work this year and hopefully next year will be better.

    Cheers guys!

    Comment by John — December 22, 2010 @ 7:29 pm

  13. I agree with Marc. Recently there seems to be an influx of very demanding comments. I don’t know why. You’re receiving excellent trading news daily through the kindness of the BMR team and some people just develop an entitlement complex all of a sudden.

    No matter. All I want to say is that the site has been instrumental in teaching me about how to read and analyze charts, understand certain trends, as well as the benefits of patience. I am an absolute beginner in stock-trading, and they have already helped me generate a little bit of money this year. Thank you and Merry Christmas to you all.

    Comment by Muiz — December 22, 2010 @ 8:07 pm

  14. Well said muiz. I Agree thanks alot Jon and the guys.merry Xmas!

    Comment by Jeff — December 22, 2010 @ 8:10 pm

  15. Hey Jon, What about CAN , don’t tell us you’re not holding any CAN position in your portfolios. CAN has added
    almost %700 to its share value in the past 7 months, from $.90 to $6.00.

    Comment by Forb — December 22, 2010 @ 8:25 pm

  16. hey forbs and others with recent post regarding who owns shares and how many, give it up. your logic is that a stock went up 700% this year so jon must own some. tell me you are joking please, do you have any idea how many junior companies are on the venture exchange alone? read your post again and please come back and apologize. and i would just like to thank the whole team at bmr for all the great work they have done. i am a new investor and bmr has helped me big time. so merry xmas and happy new year,,,,,,,and keep up the good work.
    heath

    Comment by heath — December 23, 2010 @ 4:27 am

  17. I have to agree with Heath. Some of these posts are just downright rude. There is always the issue of personal responsability which everyone should accept for all their financial decisions. I have learned an awful lot this year about technical analysis and more importantly about being patient and letting these Companies execute their exploration programs. When Gold goes to $1500 and Silver to $50 these are the type of Companies that will absolutely explode in price and that will happen in 2011 imho. Be patient and be thankful for the wonderful opportunities that are presented to us on this excellent site and have a great festive season.

    Comment by patrick — December 23, 2010 @ 5:48 am

  18. Thank you for your exellent work
    and the willingness to share with us!
    Merry Christmas and Best Wishes for 2011.
    Blessings……BM

    Comment by brigm — December 23, 2010 @ 9:44 am

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