I've read much of the material cited on this board, read other materials, heard some viewpoints, including those of Jim Rogers, Dennis Gartman and Don Coxe. Although I've played them for years now, I'm far from an expert in PM's, commodities or the stock market, but I do enjoy listening to others that are and try to figure who makes the most sense.

I don't believe anything that happened with or related to Bear Stearns changed any fundamentals. In fact, the run on BS, resulting in the Fed's intervention, is consistent with what many of us have been hearing and believing for many, many months, and in some cases years.

Fundamentals-driven moves in the market are, generally, orderly, persistent and long term. The move we saw last week seemed technical and rooted in emotion, powered by short term traders.

The fundamentals should reassert themselves in time. I have no chart that tells me the amount of time, nor of the ultimate drop in commodities in this "corrective" phase. My guess is that more fear is due to be spread to commodities players, so I'm gonna say we're in for another 3-7 trading days which will be net down, with some of those days significantly so, and the POG, for example, will head to the mid-800's. That should shake out many, especially those who are late-comers or margined. I would guess that by the end of the first week in April, the POG willl be back in the $920-970 range.

(For those of you who know me, try not to laugh too hard over the above attempt at serious discussion/prognostication - I enter that milieu only rarely and reluctantly!)