BullMarketRun.com

Markets are in retreat again this morning, and it appears almost certain now that the CDNX’s 20-day moving average is going to turn negative for the first time since July…as of 9:15 am, the Venture is down another 15 points to 1,495, just five points above its 50-day moving average…the likelihood of a drop to 1,400 – the 100-day moving average and an area of strong support – has increased, and traders should take a cautious stance…we have always maintained that it is extremely important for investors to maintain reasonable cash levels to take advantage of unexpected market developments…any significant correction in the CDNX will present some very attractive buying opportunities as the long-term bull market remains firmly intact given the rising major moving averages which are in no danger of reversing…the worst-case scenario on gold, in our view, is a drop down to huge support near $1,000…we will be providing a market update following the close of trading today…