I like the way ECU behaved into the close today.  Maybe it was a delayed reaction on the stronger trading for silver, and maybe it was shorts deciding that they have wrung out all the downside from this move, and covering. But for sure there have not been too many days I can remember during the last few months when ECU closed on the highs for the day after being in the tank.  Outside reversals are rare and should be noted.

I do not care to predict anymore when the bull resumes.  I have pretty much resiged myself to just hanging on to the story with white knuckles. When the most bullish investors are down to giving up hope for the near future, thats a reliable indicator that a bottom is at hand.  I will say that I believe ECU will be a market leader when the sector gets back to health.  There was a lot of doubt in the story the last few years, but the latest resource update is so compelling that people can no longer claim that they do not think its for real.

cheers!

mike