The “dog days of August” will soon be behind us and this is typically the time of year when the TSX Venture Exchange can reverse very suddenly and forcefully to the upside, propelled by a fresh discovery or a shift in sentiment. The CDNX is off 11.5% so far in August, the TSX has declined 4.8%, the Dow is off 7% while the Nasdaq has slipped 10%. From a contrarian standpoint, the high level of bearishness among investors suggests right now is a classic buying opportunity. We’ve seen this before. Would you rather buy something on sale or wait for a couple of weeks and pay much more?
John has a new chart on the CDNX this evening which shows the Index appears to be ready to make a significant run. It looks like it’s time to saddle up the horse.
Thanks Guys for all of the info you provide
much appreciated
Comment by GREG H — August 26, 2011 @ 8:44 pm
Jimmy – looks like the BMR boys were right about gold
people were fast to criticize but slow to complement
Bert – Good morning Jimmy ! I feel we are all reasonable people
on this board & strive to be perfect in every way & are eager to
compliment others, when complimenting is warranted. Regarding the
BMR call on gold. No one is perfect, but they presented us with 3
support levels, A, B & C, which left an impression of uncertainty.
I can understand that, because the mentality of the herd, cannot
be predicted or expected to adhere to past support levels. Gold
did turn around somewhere between B & C., & no doubt the compliments
will flow, once BMR are more precise in their predictions.
Sorry BMR., but i would write the same narrative about myself, given
the same circumstances. Having stated what i have stated, i will
state that i enjoy your comments. Thank you ! R !
Comment by Bert — August 27, 2011 @ 2:50 am
Problem is, this could be a dead cat bounce maybe back to 1250 on the S&P then…. 2008 all over again!
Comment by dave — August 27, 2011 @ 3:24 am
Bert are you not the one who brings up the phrase about the future.
Bert, prediction and precise are very hard to use together.
Comment by jimmy — August 27, 2011 @ 6:03 am
Jimmy — Bert are you not the one who brings up the phrase about the future.
Bert — Yes, i am always quoting Doris Day.. When i am able to predict
the future with absolute certainty, throw me a compliment. I would
suggest that the Venture exchange is either going to be UP, DOWN
or close EVEN on Monday. So much for my predictions. Only tormenting
Jimmy, have a good weekend. R !
Comment by Bert — August 27, 2011 @ 6:34 am
Andrew
Thinking about you today, as i watch the hurricane on TV. May it leave you & others safe & without any damage. R !
Comment by Bert — August 27, 2011 @ 7:07 am
I was looking at the Visible Gold web site where they have the photos of the drill core. It seems to me that there is a large amount of gold in them which is quite visible especially in the photo of the core with number 195 on the top of it. Now first of all is this gold? and secondly is this normal to see this amount of gold so easily in them? any comments? thanks
Comment by Ed — August 27, 2011 @ 9:16 am
dave, I certainly don’t hope for the 2008 repeat, although the potential is there with the European debt powder keg. However, with the global economic slowdown, I can see further slide in the stock market.
The problems are out there. It’s just perception of people changing day to day fueling risk on/off trades. Since the beginning of the year, the stock market has been making lower highs and lower lows. This should tell something
Comment by Bruce — August 27, 2011 @ 10:55 am
Hi Ed, I’m not a geologist of course but I’ve viewed a lot of drill core……it’s always hard to tell from pictures, but I think it’s safe to say the section of core you’re referring to is very altered with what seems like a combination of pyrite and chalcopyrite…..it’s nice looking core……I don’t believe it’s from hole #3 and I say that because the number 195 likely refers to the depth where this was intersected (in core length)…..there definitely appears to be mineralization in this core but there was no mineralization reported at 195 metres in hole #3…..so it has to be from another hole….4 perhaps? or maybe a different hole……visuals are just that, visuals, the assays will give the facts but it’s another encouraging early indication…
Comment by Jon - BMR — August 27, 2011 @ 3:21 pm
Thanks Bert, I spent yesterday well into the evening preparing and so now it’s just a question of waiting. Have an enjoyable Sunday.
Comment by Andrew — August 28, 2011 @ 4:57 am