Supply demand.  Mt Gox Closes - Less coins for many days holding coins, same level of demand.  Why hasn't the price shot up?  Its because most of the demand is people swapping coins between each other bidding the price up.  The vendors are net sellers (unless they are deflationary hoarders) the miners are net sellers so really what we are seeing here is

a transfer of wealth from late speculators to early adopters, who can also influence the market via their HUGE position in bitcoins.

Still like the deflationary logarithmically injected boot strap model?

PS

I love it when people say their money is tied up in Mt Gox, they have BITCOINS mostly they hope to TRADE for money.  How many people are hoping to buy goods and services for bitcoins when the exchange opens?  You all want to sell high and convert back to USD - think about it!  Its become a religion and i'm a heretic - bring on the mindless punishment until there are no 72 bitcoin virgins in speculator heaven.