"Wasnt the panic last week a bit silly?"I think that the markets...

"Wasnt the panic last week a bit silly?"

I think that the markets have gone completely bunkers of late.
Here in Europe and in US.

It looks like most investors are loosing a grip on reality.
Instead of looking at individual company's prospects and trade the shares respectively, our market nowadays seem to get it clues for market with economies in trouble and magnify the bad news and discounting the good news.

Why OZ market should be in so much panic is beyond me.

Countries like Venezuela where the socialist leader is interfering in free market operation at his whims, had market rising more than 50% last year. Investors there do not seem to be concerned, if the US is struggling, or Greece defaulting.
They know that there is a market for the stuff Venezuela produces, and they are confident in their future.

OZ is in the same situation, what we dig out, grow or manufacture we have not trouble selling for a decent price, so why the doom and gloom?

KMC is the classic example. Going from explorer to producer and looking forward to making profit instead of making losses. Producing gold with markets that operate 24/7 with ready buyers to buy the stuff. Futures markets where the company can hedge the price for it future production, if it so desires. Strong gold price that does not look like falling dramatically any time soon.
So why should the SP drop, if it looks like the company is going to get richer by the month?

Some day the common sense will return to the markets and I hope it will be sooner rather than latter.

Meanwhile, lets dig in and pity the fools.