I don't follow that - wouldn't it have been better to recover losses when we spiked up at the beginning of the year? The downtrend from March to May and also the last two weeks were not an opportunity to recover losses - they were an opportunity to exit before incurring further losses.

I am speaking of recovering porfolio losses (using companies other than KXL) rather than simply KXL losses. For example, I sold a large portion of my KXL and a few other stocks in late November and bought blue chips that had been beaten up. In Mid January I stopped out of most of those and bought juniors (such as OSK and RR) near production and gold producers that had been equally beaten up they have recovered nicely as well. I even bought into a PP on a stock that has since gone up 250%.

So I'd say I've recovered a good portion of my portfolio losses even though I took a bath on the KXL taht I sold. Overall I think I made a good decision and in fact some time over the next few months might be a good time to buy back those shares in KXL.

Regarding the drop in KXL, you are probably right, although many stocks I owned dropped more than 80%.