A while back I noted the breakout from the downtrend of the TSX Venture exchange - the home of all those little '.V's' in the Canadian market. They are the smallest and most speculative of the resource stocks. I own four '.V' precious metals stocks myself and am getting bludgeoned on them. But like the $CDNX itself, they are [at this point] merely consolidating huge gains made in the '05/'06 time frame. While these consolidations remain in force I will rely on the likes of RGLD, MFN, HL, NGD, JAG, AUY, etc. which are more liquid and obviously much less speculative as they are all producers and in RGLD's case, a royalty company.
Here is the weekly $CDNX chart showing the pain... along with a declining volume march down to support and a falling wedge-like object (when disregarding the noise of the downward spikes and reversals of mid '07 and early '08.
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