Based on the last 12 months of share price, I can see your point.

Is there any reason that you can see for this?

I think it is just investor sentiment flagging.

I also believe that once production nears (think late 2008) that investor sentiment will improve.

Once they start mining Ag for profit, it should shoot up again.  I think now is a good time to wait and watch and maybe start some lowball accumulation with a view to early 2009.

Once they start reporting profits from Pirquitas, I think that this stock will power up again.

Accumulating this stock under $30.00 should be a pretty good bet over the next two years.

Even given your hypothesis that SSO will go under $30.00 soon, do you really see the DJIA doing any better with the way the derivatives crisis is unwinding?

My position (summary):  SSO could have short term weakness but it is a toss-up whether the DJIA will do any better.  Long term (2-5 years), SSO is still a great bargain stock.