Wow! Talk about running for the hills.

I don't even try anymore to make sense of this PM mauling anymore. I'm just trying to believe what I see and wonder if my eyes are lying to me. So many great miners big and small getting whacked like this only goes to show how absolutely screwed up it all is. Makes no other sense to me. Shaking my head to clear the cobwebs doesn't help.

Almost all of the analysts I follow have recently talked about PMs and the PM stocks taking off, with this weekend's news being the catalyst for much higher prices. Perhaps even a moonshot. Wrong again it looks like, at least so far. It would be interesting, at least to me, to know how much of this takedown in ECU is because of funds and retail investors being forced to liquidate to raise cash because of the drying up of credit and to the short sellers and those simply selling for other reasons. Doesn't much matter, I suppose, so long as the company is not in trouble, which I assume it is not.

Probably for me the most accurate thing I've heard over time relating to the PMs is that the cartel will NOT allow gold and silver to take off. Period. Could be the case, for sure. And I bet they've got plenty of quants with their eyeshades drawn down over their eyes making sure it stays that way. If so, could be another long wait.

Pic, Looks like hurricane IKE has Houston in its sights. Hope not, since these things can be real nasty. Been through 3 so far. Good luck.