Some very small privately owned E&P companies are experiencing greater difficulties in selling prospects than they were last year even though natural gas prices are up and rig rates have stabilized. My contacts surmise that investors are nervous or are illiquid. This may only be a factor with the smallest domestic companies — my contacts — and may not pertain to Chesapeake, Apache, Range, Encana, and the like.

On the other hand, I hear from my contacts at a few small service providers (post-completion services) that business is still strong.

The E&P companies may be the leading indicator.

When you consider that silver, platinum, palladium & other metals get used up, why all this emphasis on Gold, where nearly every ounce mined is still in circulation or saved in some vault? It’s an arcane metal if you ask me, when it tops out, NOTHING FALLS FASTER! (Well maybe Bear Stearns w/b an exception, heh-heh!)

Try buying food or filling up your gas tank with a bag of gold dust. These liberals keep harping on the dollar, well what paper money does the world prefer, the Euro? Europe has nearly 10% UNEMPLOYED, their welfare system dwarfs ours per capita, & they’ve never out produced us in the modern era, have they?

The buck has either bottomed, or will soon, mark my words!

Thanks for the invite here guys, it s/b interesting.