BullMarketRun.com

Gold was taking a breather earlier today as if it were pondering whether to push immediately above $1,300 or not…the yellow metal dropped as low as $1,286 this morning but it’s now pushing higher again, currently up $3 an ounce (as of 9:00 am Pacific) to $1,294…we’re watching the CDNX closely for signs of temporary exhaustion after the explosive move we’ve just witnessed…we view the downside risk as quite limited, perhaps 5%, but even a minor pullback such as that would open up some excellent opportunities in certain stocks…the CDNX is currently up 3 points to 1692…it’s also possible the Index could keep climbing higher in the days ahead and that we won’t get a significant pullback until October…our macro view, as we have already outlined, is that the CDNX is in the midst of a bull market run of historic proportions, so the next 6 months look extremely bullish…rather than try to time the market’s moves from week to week, in an environment such as this the wisest strategy is to keep holding high quality junior mining stocks and also have some cash available for buying on any dips whenever they may come…there is no better time than now, we believe, to be a shareholder in Gold Bullion Development (GBB, TSX-V)…the company has arranged a $6 million financing at 54 cents which ensures the continuing rapid development of the Granada Gold Property as the next potential major open-pit deposit in northwestern Quebec…the stock has tremendous technical support in the low ’50’s…a drop below that appears highly unlikely…the stock was driven down recently, in our view, by the “big money boys” who wanted to do a financing at these favorable prices and that’s perfectly fine…ironically, the success of Gold Bullion’s Phase 2 program as outlined in the company’s September 9 news release appears to have brought this on…some very good holes are expected to come in yet from Phase 2 and the “big boys” are loading up with private placement stock (with a half warrant attached to each 54-cent unit) at just the right time…fear and greed rule the markets, that’s just the way it is and investors should never forget that…Gold Bullion is currently down 3 pennies to 55 cents…investors also shouldn’t forget that Gold Bullion ran up nearly 50% during its most recent financing in the spring…we’re keeping a close watch on Seafield Resources (SFF, TSX-V) as we’re expecting news very soon from its exploration activities in the Quinchia District of Colombia…the possibility of some impressive initial drill results from Miraflores certainly exists, and the company is also expected to start drilling targets at Dos Quebradas shortly…Miraflores already has a 43-101 inferred resource of 800,000 ounces and Dos Quebradas, with a lot of blue sky potential, has a non-compliant in-house estimate of 800,000 ounces…Seafield’s strategy is to outline a series of deposits at Quinchia (Miraflores, Dos Quebradas and Chuscal) that total 3 to 5 million ounces…we also wouldn’t be surprised to see Seafield come up with a new President and CEO to replace Tony Roodenburg whose expertise is more suited to building Greencastle Resources (VGN, TSX-V) for which he is also President and CEO…Seafield is currently at 23 cents, down half a penny on the day but trading at strong support…Sidon International (SD, TSX-V) is showing some weakness, dropping as low as 12.5 cents this morning (it’s currently at 13 cents)…we see no reason for concern, however, and in fact we view this as a good accumulation opportunity…Currie Rose Resources (CUI, TSX-V), another Tanzanian explorer we like, is up another 1.5 cents to 13 cents…it has a great looking chart and the company is making preparations for a drill program to begin in the near future…Currie Rose also has a property of merit in Sudbury which is joint ventured with Trueclaim Exploration (TRM, TSX-V)…