MajorD, I wouldn't be surprised to see ECU fly back to $1.50 in days and this would really get going if retail people would just quit puking small amount of their ECU position. It looked like Etrade shorted earlier this week and maybe late last week and it appeared some covering was going on today. The traders have certainly been trying to break ECU down to below .75 to exploit some legitimate forced liquidations or panic sellers that appeared as the stock dropped but they may have miss-calculated their buy back timing and may now have to payup.

Everything was in the favour of the traders recently as ECU finally brokedown after holding strongly with huge buying since mid-July. Thankfully strong buyers wanted to own the stock when most of the rest of the sector was being trashed, unfortunately some of the buyers reached their targeted position limits about 10 days ago and the traders moved in as the UD dollar was peaking and gold sliding. But the turn has occurred and the dollar is falling as expected and predicted with gold/silver finally starting a serious move higher lead by the HUI stocks and the friming of the best juniors, like ECU. I expect this trend to intensify and the best stories like ECU could move even faster as the sellers abate and those offside have to reach higher to get stock or regain positions sold foolishly. The idea is to buy low and sell high and this makes ECU a tremendous buy right now.