BullMarketRun.com

Markets are off their highs of the day…Gold inched closer to $1,800 again, climbing as high as $1,796, before pulling back…as of 9:00 am Pacific, the yellow metal is down $3 an ounce at $1,784…Silver is 10 cents higher at $40.01, Copper is up a nickel to $4.05, Crude Oil has gained $1.18 to $87.83 while the U.S. Dollar Index is off one-third of a point to 73.78…the United States has a huge growth deficit and we’ll see what President Obama comes up with immediately after Labour Day when he’s expected to deliver a major policy speech with proposed measures aimed at bolstering economic growth…it’s probably his final chance to show leadership and common sense on the economic front…the U.S. Congress, and that means both Republicans and Democrats, have to also stop playing political games…governments don’t create jobs but they do play a critical role in fostering the proper environment in which the private sector can flourish…Obama, who seems to be a socialist at heart, needs to do an abrupt reverse course and propose pro-growth policies and creative tax measures that encourage the great American entrepreneurial spirit…U.S. core producer prices rose at their fastest pace in six months in July, pushed up by higher tobacco and light truck costs, according to a government report this morning that could stoke inflation fears…the Labour Department said its seasonally adjusted index for prices paid at the farm and factory gate, excluding food and energy, rose 0.4% – the largest increase since January – after rising 0.3% in June…that compared with economists’ expectations for a 0.2% rise….overall prices received by producers rose 0.2% after falling 0.4% in June, above economists’ expectations for a 0.1% gain…the CDNX is up 16 points at 1824…Goldex Resources (GDX, TSX-V) is by far the most active stock on the Venture so far today…GDX gapped up to 11 cents on drill results from its El Pato Gold Property in Guatemala that included 30.48 metres grading 5.04 g/t Au…GDX has come off its highs and is currently up a penny at 9 cents on volume of over 9 million shares on the CDNX…results this morning were supportive of historical information on the property from UN and Guatemalan government drill programs in the 1980’s and 1990’s…assays are pending for 5 more holes and bulk sampling continues on the property…there’s a good chance this story could build out nicely in the coming days and weeks…at 9 cents, the company’s market cap is only $8.8 million…liquidity in the stock is strong and much of the 5-cent private placement paper from last January has likely been absorbed given the trading volumes this stock has had since July…the company is also about to start a 4,000-metre drill campaign at its promising El Arco Property which is located in the Gold and Silver trend of the resource-rich Mexican state of Durango…so we believe this has good potential and we like how the company has been presenting its story…Galway Resources (GWY, TSX-V) has been a strong performer lately…we most recently mentioned the company in late July after it reported some high-grade assay results from its California Gold Property in Colombia…the stock was trading around the $1 level at that time and yesterday closed at $1.39 on strong volume…the stock however is now at a resistance level and also overbought based on RSI and Stochastics, so some near-term consolidation is likely…GWY is currently unchanged for the day…we haven’t mentioned Currie Rose Resources (CUI, TSX-V) in a while…CUI continues to drill at its Mabale Hills Project in Tanzania and we’re expecting news soon based on the fact there hasn’t been any news since very early July, shortly after drilling commenced…the geology at Mabale Hills is certainly favorable for a discovery but action could really pick up in CUI once drilling starts at the Sekenke Property, approximately 200 kilometres southeast of Mabale Hills…CUI has held up well recently and closed yesterday at 17 cents…we love companies like Currie Rose Resources with strong geological foundations…significant discoveries can produce a 10-bagger in a relative hurry as we’ve seen with the likes of Gold Bullion Development (GBB, TSX-V) and Richfield Ventures before it was taken over by New Gold Inc. (NGD, TSX)…Visible Gold Mines (VGD, TSX-V) is another example of a company with excellent projects and the right people to unlock the value of those projects and make a potential major discovery…in VGD’s Robert Sansfacon, we see one of the best geologists in all of Quebec who has the ability to bring the Joutel camp back to life…he’s also overseeing a talented crew that’s aggressively going after a new discovery in the Wasamac area…the potential with VGD is considerable simply based on Sansfacon’s track record as his re-interpretation of Malartic was an important factor leading to Osisko’s (OSK, TSX) 10-million+ ounce discovery…