CrimsonDynamo referred to the Warren Buffet/value analogy earlier, and it's one of my favorites. Just remember that it works both ways. The market is like an irrational person, It will burst into your room and announce the price at which you can get a stock. The next day this irrational person will burst in and name a completely different price. It is your job to decide what a stock will be worth, and realize that this same irrational person will sooner or later come up with your price. It also works in reverse: Just because Mr. Market is offering you an irrationally low value for the stocks you own doesn't mean you have to accept it. Mr. Market will sooner or latere offer you a completely different price.

Lately Mr. Market has been more irrational than ever. I certainly won't listen to his offers to buy my stocks. But I must say he's been spouting some great prices for stocks I want. I just wish I wasn't so *.* broke right now.

P.S. no-one rubbed it in about my $1000.00 gaff... I guess Mr. Market doesn't think gold is worth as much as I do right now.

MR

I think we're in uncharted territory and no amount planning or logic as to what the PM's are going to do in the near is going to work. Long term views are the only thing that's going work....and the patience of Job.

Even before this incredible crisis got started....the PM's were behaving strangely (of course...not a free market)...and I doubt its going to change anytime soon. The only reaction I've seen that made any sense was the PM's reaction....and the major producers getting in gear when this crisis got started in earnest back in Aug08. That reaction made sense....yet it still caught me off guard anyway. The PM's did not anticipate...nor did the stocks....even though the problems surfaced in late winter.

Of course....now we are well passed those initial signs of crisis and have marched orders of magnitude further into problems that are looking much worse than any of us had ever thought....and we're here much quicker too. And yet the PM's are well off the highes. Other forces are STILL at work....and the bubble in confidence is probably still the largest one.

This market is completely busted IMO. It anticipates nothing....it discounts nothing. It is reaction and news based almost exclusively. I think its totally corrupted.