While the price plunge is making money losers of many mines, it will take time, he said, for any shutdowns to occur.
The small investor is not fooled into believing that the possibility of another price plunge is behind us.
But a spring like this year's could raise fears of a much steeper price plunge.
But in the last few weeks, a number of investors have begun betting that Air Touch is perfectly positioned for a quick price plunge.
These predetermined sell orders were one reason that Wednesday's 7.4 percent price plunge was so steep.
The panic selling took place in the gold market and caused the price plunge.
OPEC's failure in two meetings this year to find common ground to stop the price plunge has only made matters worse.
But the fear of another price plunge was always a factor, and remains so today, even with high global demand and high prices.
The key lesson of the price plunge is that biotechnology is, after all, a place for patient money.
The late surge more than reversed an earlier price plunge as the bubbling US market turned cautious about defensive stocks.