Today was a good day for the juniors - Venture behaved exactly as I had hoped. Yesterday's "rip your face off" rally was too late for Venture to fully respond. But it did today.

Holders of junior resource stocks have suffered mightily since March - 45% down in the index, 23% in the last 9 trading days alone. This just smacks of capitulation and despair. Today's bounce was 6% with good internal strength. I think yesterday was the low for the year in the Venture. I believe Venture has already started its year end rally, although there is no confirmation yet.

For that, we have to wait for US stocks to re-test yesterday's lows, which should happen in the next week or 2. Of course, Venture will follow to some degree, but if it outperforms as I hope and expect, that would confirm the bottom. That would be a green light to pile back into the juniors.

Meantime, there are so many bargains, I'm not waiting for confirmation - I'm buying the most beat up stuff.