I subscribe to the Mining Speculator by Mike McCoach. He sent out an email telling subscribers that the drop in gold prices was due largely to Bear Stearns. They apparently held a large amount of gold, and it is being sold off, causing a short term drop in gold prices, which he feels is a buying opportunity. He feels there are more bank collapses in the future... which leads me to wonder if their gold would also be dumped??? He is bullish on Jr mining, but mostly on current or near term producers, stating that specualtive phase co's will find it difficult to raise $ to move forward (not a problem with KXL). He reccomends buying bullion, getting $ outside the country (he is American), pay down debt, store food (Yikes!). Make up your own minds on his advice, though would be interested in what you all think.

Some banter about technicals. I believe technicals mirror market psychology and sentiment. If all the same fundamentals are in place, putting in a double bottom, breaking through resistance etc is meaningful until the fundamentals change for better or worse. Jrs. are much more volatile in their fundamentals, as drill results can change the picture instantly and drastically, where sales changes at Walmart of whatever happen more gradually, and don't throw charts for a loop in such a drastic way. I thought breaking through the $3 barrier in Feb was a good technical side, but the last NR erased that. Hopefully the next NR puts us above it for good.