Seems the Market is confusing "default" with "downgrade" in this budget mess. Today the jobless claims seem to be a good thing, but might not hold up after that news conference giving the administration's take on budget negotiations. Anyway, a default is completely off of the table. Have a feeling the budget compromise (think a deal is done, just politics and jockeying now) will be announced over the weekend. They will not announce during a trading day as anything can happen because of misunderstandings. Once the Market understands it is not a default, life goes on.

DEGH sp acting well in this, and specs (especially startups) usually get the ax first when the Market has uncertainty. DEGH/Fuse PR of signing the "Five in July" is helping support sp, and implies more PR's coming. DEGH/Fuse PR's tend to come out on Wed/Thurs, something like nine out of the last twelve times. Think moreso on Wed but do not have my stats in front of me. Tending to believe the three-cent conversions are completely, or 95%, gone. Hard to say. DEGH reports Aug 15 (or has in the past), so we shall see specifics at that time. If the three-cent conversions are gone, the other good news is that the debt goes away with the three-cent conversions.

Once a budget deal is made/announced, then it might be time to consider junior gold miners again and make a choice by early August. Oilers, and other commodities, are looking pretty good about now.