I don't know if I should be happy or sad re: Agora posts describing the S&P crash a year ago. Specifically, I called for the S&P to be below 1000:

link - March 22 '08 post

link - March 15 '08 post

link - July 25 '08 post

link - November 21 '07 post

The S&P is at 1041 as I write this, and the Dow below 10,000.

Yes, I know - I should have listened to my own advice. But SGX and KXL have great gold prospects!

The point is to make our way from here. I don't think we have capitulation. Capitluation is when everybody - completely everybody - is gloomy and volume is very low. We don't have anything like that yet.

However, I see that SGX and KXL usually get caught in the downdrafts, and then bounce back up to a more reasonable value, whereas the indexes don't do that.

Warren Buffet in 2006 called for a Dow of 8500, and he has a pretty darn good track record. That's the number I have thought about for months now. But he's also spending real money so he must see a way forward.

I haven't sold a single share and have no intention of doing so.