Toronto, apart from being home to Noront, is also the home of Hockey and our beloved Maple Leafs. It is amazing and humiliating that we that we are yet again all but eliminated from the Stanley Cup playoffs.Shame! Our Transit system is also due to stike next week. 60 grand a year to collect fares is obviously not enough!

Back to the markets. In the face of two terrible statistics that were released yesterday (Home prices down 12% and Consumer Confidence at a 35year low) it was amazing that the Dow was able to remain virtually unchanged. Once again this is evidence that the markets are seemingly destined to head north. In the face of horrible fundamentals the market continues to defy all logic. We all know that the "hidden hand" that props it up will not stop at anything at least until the election. The "hidden hand" was revealed in the case of Bear Stearns where an obvious bailout was played out by the FED. What does this teach us? It teaches us that we can lend to the riskiest entities (earn huge bonuses) and still get bailed out when the gig is up!

I spent alot of time at University learning the merits of Keynesian vesus Austrian economics. We clearly embraced the Keynsian side and have taken the manipulation of the markets to the extreme. We simply seem unable let the market forces correct the many wrongs that are being perpetrated in the current financial marketplace. The longer we wait for this correction the worse it will ultimately be in my opinion.

Today we wait for the durable goods orders and the New Homes statistics. The New Homes stats could be a market mover but one thing that I do not understand is why home sales cancellations (now running at 50%) are not included.

The precious matals as a group made a big recovery and there appears to be follow through this am. If you want to head over to the Gold Eagle web site (www.gold-eagle.com) you can read the editorial by Goldrunner ($Gold Fractal- -Short And Sweet - Goldrunner - Mar 27)on where I also think gold is headed in the short term. He gives abundant free advice and is usually right.

The Mcfaulds area definitely created excitement yesterday. I did increase my exposure to FNC by a little and bought some more FWR. I am not a trader ala AL and have a more long term view on my investments.  His advice about taking some off the table is definitely warranted but this paly seems so young with so much more potential upside. Not sure whether it was rumour or fact but the reason given for the move was drilling by Noront on the boundary with FNC. Noront also had a great close yesterday so I'm thinking we will be getting some good news shortly.

I have a freind of a freind working as a lead geologist in the camp. We asked him to send us an e-mail when (in his opinion) we have a mine. He has still not sent it yet! He is very conservative though and he may very well not have all the facts. We will see.