BullMarketRun.com

Gold topped $1,300 for the first ever ever this morning, climbing as high as $1,301.30 as the U.S. Dollar took another hit…it seems the Fed is content with a lower U.S. Dollar as that will help the U.S. manufacturing sector, giving a boost to the economy and also increasing inflationary pressures which is consistent with the Fed’s goals as outlined in its Tuesday statement…as of 7:30 am Pacific, the yellow metal is at $1,298, up $6 for the day…the CDNX is trying hard to get through resistance around 1700…the CDNX is clearly in overbought territory and has been showing some signs of exhaustion in recent days, as John outlined in an excellent piece last night…it’s up 13 points at the moment at 1701…while the probability of a minor near-term pullback has certainly increased, our macro view is that we’re in the midst of a move of historic proportions in the CDNX which could drive this market well past 2000 by early next year…investors should continue to hold high quality junior mining stocks but keep some cash available for buying any dips that will occur…in buying new stocks right now, look for ones that aren’t heavily overbought and are perhaps coming out of a recent consolidation…Currie Rose Resources (CUI, TSX-V), which we mentioned recently when it was sitting at 10 cents, is an excellent example of that…another one we like at the moment is Goldquest Mining (GQC, TSX-V) which has a terrific portfolio of projects in the Dominican Republic as well as a substantial zinc-lead-silver deposit in Spain…Goldquest just came out with news this morning and its chart is looking very powerful….it’s currently up 2.5 cents to 17 cents…we’ll have more on Goldquest in the coming days…Gold Bullion Development (GBB, TSX-V) is up 2 pennies to 56 cents…we can’t emphasize enough how bullish we continue to be on Gold Bullion and its Granada Gold Property…the stock price has come down from the high 70’s to the mid-50’s where it has exceptional technical support…we expect the company’s $6 million financing at 54 cents will close quickly…Seafield Resources (SFF, TSX-V) is off half a penny to 24 cents this morning…interest in Colombian plays has been heating up recently and Seafield has a very promissing and underrated 67 square kilometre land package at Quinchia…we expect an exploration update soon from Seafield including initial drill results from Miraflores which the company started drilling near the end of June…technically, the stock is looking strong and is not heavily overbought at the moment…Sidon International (SD, TSX-V) has shown some weakness in recent days which is a gift in our view as Sidon is sure to strengthen as exploration ramps up at its Morogoro East Property in Tanzania…