Hi Ororico!

I too think the market has no clue how to value the mining stocks. However I think part of the mystery is due to the participation of the new mining junior ETFs. As the metals were powering higher new money flow was entering these funds, and the funds in turn were buying juniors to meet their allocation. Now as the metals roll over, and people panic and buy into the nonsense about a bubble, a top, or whatever fear scenario is being blasted to the clueless, there is probably selling of those funds. And the funds must sell the stocks they bought, on weakness, to supply the cash to meet the redemptions.

This is not unlike the bullion ETFs where the most intense selling comes at the worst times. It seems the architects of these trading products have created the best means to allow dumb money to buy high and sell low.

Once this latest round of selling blows off, the juniors will probably enjoy a sharp rebound on bargain hunting from the investors who know what the PM sector is really about.

I added a few more ECU traders yesterday. Hard to pass up on stock at the low end of the range when it seems most of the damage to silver has already been done.

cheers!

mike