longonlargo, I think many people are going to be surprised by the market over the coming months.
Quite contrary to the common belief out there, I actually think the major indices are going to MOVE UP substantially over the next couple of quarters. This whole fiscal cliff nonsense really is just an excuse for the market to pullback after being overbought. (i'm not talking Junior miners, they've been destroyed).
If I were to put money on it, I would bet we will see new multi year highs in the Dow and Nasdaq within the next 3 to 6 months. Yes, there could be a few panic days before year-end but you just know they will kick the can down the road another year or two with regards to the tax rises in the US. Then the market will go back to focusing on Europe slowdown and the middle east yada yada. Meanwhile US home sales are stealthily recovering off the bottom and once they really gain traction, thats a massive driver for growth in the IS and for export countries like China who also look like they've bottomed. I see a lot of good things for 2013 ahead. And if the US and China picks up the slack from Europe, then demand for commodities should increase again and vanadium demand which has by all reports dwindled to virtually zero right now, should pick up substantially. That is the biggest driver for Largo for 2013 I would guess as the commodity price becomes ever more important as production nears and cashflow appears on the horizon.