BullMarketRun.com

Gold is off $5.00 an ounce this morning to $1,099 as of 8:45 am Pacific time…as expected, gold recently broke out of its bullish falling wedge pattern but has since pulled back and appears to be consolidating and gearing up for a more sustained and vigorous advance…technically, the key here is that gold does not fall back below that falling wedge line which it is now trading above…that means we want to see gold hold at approximately $1,085 or better…a reversal in the CDNX’s 20-day moving average is imminent – an important development which should occur by tomorrow – and we believe what the Venture is signaling is a sharp advance in gold and a strong overall precious metals market in the month of March…Gold Bullion Development (GBB, TSX-V) is holding firm this morning, up half a penny to 11 cents….Gold Bullion’s chart is definitely pointing to higher prices and an eventual breakout through resistance at 12 and 12.5 cents…more assay results from Granada are likely just around the corner, given the consistent news stream we’ve had with GBB over the past month, and what we’re looking for obviously is continued expansion of this deposit and similarities to Osisko’s early results from Canadian Malartic…the last batch of assay results from Granada was better than the first, so we hope the next set is even better than the second and can start to paint a really good picture of the blue sky potential of this property…Seafield Resources (SFF, TSX-V) is strong this morning at 28 cents as M Partners continues to gobble up stock…the technical picture with Kent Exploration (KEX, TSX-V) has improved tremendously and this stock is clearly an immediate buy with the potential for a short-term 50% move at least…the fundamentals support that view as Kent will very soon be commencing drill programs at its Australian and New Zealand gold properties…we are particularly bullish on the Alexander River Property in New Zealand which already has a pre-NI-43-101 compliant estimate of 640,000 ounces of gold…Kent is a “steal” at current prices and is one of the best-managed junior exploration companies we’ve ever come across…the Quebec shale gas play is really heating up and investors should be reminded that Greencastle Resources (VGN, TSX-V) holds oil and gas exploration permits of nearly 7,000 hectares in the Longueuil/St.-Hulbert area east of Montreal in the St. Lawrence Lowlands…their permits are located southwest along trend from the Utica Shale gas discovery by Forest Oil Corporation in 2008…