The market is over?????As long as gold holds up, I believe we'll be fine. This has the potential of being an historical buying opportunity. Gold has held above its 300 day moving average for the entire duration of its multi-year bull run and that continues to this hour and even in yesterday's dramatic sell-off.
Don't forget, we had a 20% correction on the Venture Exchange last year, and at the bottom of that correction - in June - there was all sorts of talk that the bull market was over.
I believe there are good reasons for caution at the moment. However, the Fed has signalled an easing of interest rates and that's positive for gold and the markets. The sub-prime issue is not over but we may get to the point in the coming weeks/months when the market can put this behind it.
I stepped in and bought more GQC this morning at .65. There are some positive technicals with GQC at the moment and some negative ones. With assays pending, I believe the potential reward heavily outweighs the risk. If GQC has a significant deposit on its hands, the stock will move significantly higher even in this market climate.