Hi lawnbowler

Are you going downtown for the protests tomorrow?

ECU remains in a tight Bollinger Band lock-down between $0.46 and $0.55 or so. This is the area where attenpts are being made to load-up and a place where shorts are reducing their positions. It's difficult to face facts sometimes, especialy when money is involved, but we still have an undefined amount of days ahead of us where we will be required to keep the faith while other pm issues continue to advance and are expected to advance.

The big gold and silver Index, XAU, is in the starting gate and ready to run. The Index has been taking in a fair amount of paper shorts recently in the general vicinity of the 1000 day average at about 137. The Index closed over 140 today and if further strength is seen, the odds will increase that a major turnaround to the upside is near. In this environment, ECU's daily chart tracks may improve with a hop above the $0.55 area or so. If this does occur, I would suspect that we could see a burst of buying in the shares.

It's never easy to sit and wait. We have done that for about six years in one issue and during the last few months we have witnessed a significant gain in the value of those shares, making the time and effort spent in waiting well worth the commitment.

Keep the faith, we're in a bull market for gold and silver.