BullMarketRun.com

Gold is off sharply this morning, along with just about everything else, and as of 9:00 am Pacific time the precious metal has lost a little of its lustre, down $29 to $1,108…the CDNX is off 37 points to 1,576 and will likely enter a minor corrective phase with downside targets of 1,550 (20-day moving average) or 1,475 (50-day moving average) if it breaks below last week’s low of 1,573…the Venture has held at or above its 50-day moving average since the middle of July last year…gold’s drop below key support at $1,120 is unsettling and opens up the strong possibility of a test of the December lows…the TSX Gold Index, already at oversold levels, dropped slightly below its 200-day moving average this morning to 324 but is now at 327, right at the 200-day…the last time the Gold Index dropped below its 200-day moving average was in late October last year, just prior to a massive run to the upside…our advice is very simple – the Venture Exchange is in a long-term bull market and any downside moves along the way represent great buying opportunities in good quality stocks…the BullMarketRun.com portfolio is holding up well this morning…Seafield Resources (SFF, TSX-V) and Greencastle Resources (VGN, TSX-V) are both up slightly…Gold Bullion Development (GBB, TSX-V) is even on the day at 10 cents…Colombian Mines (CMJ, TSX-V) and Richfield Ventures (RVC, TSX-V) are both down slightly…and Kent Exploration (KEX, TSX-V) is off a penny to .195…in the immediate short term, our two favorites are Kent and Gold Bullion which are extremely attractive on any further weakness…