I'm holding on to my Tyhee, however, I managed to average down to a good average price level, so I understand the position of others whose average price may be higher. Also, I have a few producers.

From the past weekend's Globe and Mail . . . here's Eric Sptott's view of the markets going ahead, along with the views of two other Fund managers (perhaps lesser known among you people) Ian Ainsworth and Chuk Wong.

http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/whats-in-store-for-the-markets-next-week/article1560895/

Sprott's view:

Stock markets will eventually plunge through the March 2009 lows because the financial crisis that reared its head in 2008 and recently again with the Greek debt crisis is clearly not over, says Mr. Sprott.

“We pretended we solved the problem but we didn’t,” he said. “As you look six months forward, I think markets will sell off quite a bit, and in fact I would even…say we will probably break the old lows of March, 2009. That could be in a year. That is how grim it is.”

The financial crisis got papered over, but did not disappear, he contends. “We just essentially took it off the books of private enterprise or the banking system and gave it to governments. And of course the governments are being questioned because they have all these liabilities and own all this toxic waste so now people now won’t buy their bonds…The markets all of a sudden have come to appreciate that we have a problem out there, but we have always thought that there was a problem.”

While reluctant to prognosticate on the markets next week because of what could transpire over the weekend, he noted that “we are in bear markets in probably the majority of countries right now. And bear markets don’t end quickly…

“The FTSE, CAC 40 and the Chinese market, for sure, are in a bear market. The Chinese market has been going down since August of last year. Most people are not aware of that. That is theoretically your leading economy and their stock market is in bear market.”

The world is now grappling with the fact that sovereign risk is a very major problem – that governments can’t repay debts that they have run up, he said. “That is why you have the crisis in Greece and that is why it has spread.”

If the European Central Bank (ECB) uses its so-called “nuclear option” of buying Greek government bonds “which is simply the printing of money,” then gold would skyrocket as well as silver, Mr. Sprott predicted. “I think the markets would continue to sell off because they realize that this formula would not work. This could be creating almost a hyper-inflationary situation.”

The view of the other two can be read in the linked copy.