Today, 8/8/08

I just have never seen so much pessimism for so many wrong reasons. Plus, if gold doesn't reverse off of $850 today we're in more trouble than we know. So, I will lay it out there in writing that today is capitulation.

All the best to my fellow PM stock investors, it's been so tough and I hope for us all we find better days ahead. KBX still a screaming bargain here and we all know it. I've accumulated at these levels nervously for reasons beyond KBX - mainly that who knows where this all goes. Clearly there are funds being liquidated that were leveraged, and that hasn't hit the wires yet. But, that will lead to money being printed which should in theory help gold out.

Who else is sick of not rallying with gold, but participating in all the downside when gold goes down? Ugh? feel like capitulation to anyone else?! Best of luck!

Mikee