BullMarketRun.com

Gold is trying hard to break through resistance in the $1,250’s…as of 8:50 am Pacific time, Gold is ahead $13 an ounce to $1,256…the CDNX, trying to snap a 4-session losing streak, is up 2 points to 1,454…Seafield Resources (SFF, TSX-V) is looking extremely attractive at the moment…we first introduced Seafield nearly a year ago when it was sitting at just 6 cents, so this is a company we’re very familiar with and have been following closely…a series of events have occurred over the last few months with Seafield that are quite interesting which we will expand on in more detail over the weekend…Seafield is in a strong cash position (approximately $5 million) and has assembled a solid portfolio of gold properties in the Quinchia District of Colombia where drilling will commence shortly…the company has the right people in Colombia to advance those projects…Seafield also holds the Elora Gold Property in northwestern Ontario (Manitou Gold, MTU-TSX-V, is currently drilling immediately adjacent to Elora) and the Picachos silver-gold-zinc project in Mexico…some “movers and shakers” are involved with Seafield which clearly has the potential to succeed in a big way on the exploration front…technically, the stock has formed an impressive base around current levels and is resting just above its rising 300-day moving average…the stock is off a penny this morning to 17 cents where there is strong support…the funny thing is, many investors don’t approach the market in the same way they approach their everyday purchases…in otherwords, when a quality stock is “on sale” (languishing or dropping in price) a lot of investors are too scared to make a purchase…they’d rather wait until everyone else starts buying before jumping in and paying a higher price…Gold Bullion Development (GBB, TSX-V) is up 3 cents this morning to 70 cents but on fairly light volume in the context of GBB (270,000 shares)…technically, the stock is in the “overbought” area based on Stochastics and RSI, so near-term we expect some further consolidation as we’ve witnessed before with GBB when it has shot up into overbought territory…Fire River Gold (FAU, TSX-V) is quiet this morning, down a penny to 64 cents…we like this opportunity a lot (we first mentioned Fire River when it was in the low-to-mid 50’s) but the stock is likely “range bound” until the company closes its proposed $5.5 million financing at 50 cents and receives CDNX approval…it should be an interesting summer for Fire River as it drills its Nixon gold mine project in Alaska…