Climbing the Wall of Worry

Morgan Report/Silver Investor
"...all markets go through four phases of emotion. First there is pessimism, then skepticism, then optimism, and finally euphoria.

Right now we are still in the skeptics phase also known as the wall of worry. No one knows how much more damage we will see to the equity markets. The mining shares have been hit but are starting to show resilience. I know it is tough to breakthrough when so much fear exists but it is not worth selling at this point because the bottoming process is starting to take place. Is this the short term bottom? Frankly, we doubt it and think a good solid buying opportunity will become available in February." (1/23/08)

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