recovery maybe, page-17

I think a lot of stops made causing a cascade effect on the the price of specs plus margin calls forcing more selling.

Gold off (partly) due to cash shortage in peoples portfolios

All this with a healthy dose of fear. Have been through this sort of thing before in 2000 and rode it out. It all comes down to whether or not you have faith in what you own and you've done the research.

These big falls will be followed by similar gains in the near future. How near that future is in undetermined.

Media having an absolute field day with scary music and dramatic overtones of doom and gloom.

All this doesn't mean that the the whole thing is going to pot given that this does seem to be a credit problem and not one of valuation. Of course there is the 'R' word but I do think that there is more of a cushion this time around given the state of play around the world ie decoupling.

You would think that the people in charge ie those controlling the money were smarter than this but it appears that the smarter we are the dumber we get.

It's a pity that the financial geniuses will not be punished and will more than likely walk away with a nice big fat severance cheque.

The US will have to cut rates forcing the dollar weaker and gold will continue to rise. Junior miners who are in production or with significant discoveries with cash in hand should, I say again, should do well.

Volatile times ahead I'm afraid.

All the best to holders

Cheers
BW