BullMarketRun.com

Our cautious stance on the markets continues…the CDNX is inching up a little this morning, currently ahead 1 point at 1,556 while gold is bouncing around and is now up $2 an ounce at $1,104 (as of 8:45 am Pacific time)…the Venture’s declining 50-day moving average is a cause for concern at the moment as we outlined over the weekend..the next few days will be an excellent test of just how resilient this market is…the first major area of support on the CDNX is 1,540, the 50-day moving average…below that, there is excellent support between 1,485-1,500…we hope traders increased cash positions last Friday when we first warned of some potential turbulence ahead…the action in Gold Bullion Development (GBB, TSX-V) is very positive from a technical point of view as the stock is consolidating nicely in the mid to upper 20’s…this will lay the groundwork for a potential major new move to the upside in the near future…even with a choppy or slightly negative market, a company with a significant gold discovery on its hands is going to fare very well…we suspect a considerable number of GBB warrants have been exercised recently which has helped to keep a “lid”, so to speak, on the stock price…Gold Bullion is up 286% since we first highlighted this stock three months ago…smart money, we believe, continues to accumulate GBB…elsewhere with the BullMarketRun portfolio, we are keeping a close eye on Richfield Ventures (RVC, TSX-V) which has been a tremendous performer of late…we expect Richfield to ease off slightly and consolidate for a brief period to digest its recent gains before potentially making a run at the $3 level when drilling resumes at Blackwater…Richfield is currently off three cents to $2…the best strategy with Colombian Mines (CMJ, TSX-V) has been to accumulate on any weakness…CMJ continues to drill its Yarmualito Property in Colombia and has a terrific package of exploration projects in that country…