Hi Guys!

When ECU bid dropped below $2 yesterday at the close, I got a margin call today from my broker BMO. I had to raise $50K to cover that margin in one day even though the stock value only dropped a couple percent.  That is the danger of loading up on margin, and I have pushed the limits as far as I could, buying 8K more of ECU yesterday alone.  So I do understand that a lot of other people may have found themselves in a similar position today.  You either have to deposit more money in your account, or else sell until the cash raised covers your margin shortfall.  I chose to sell, but I dumped shares of GS and took a big loss, rather than sell any of my ECU.  But I am sure some of the selling in ECU today was related to margin calls from other people. 

I have no regrets on my decision to add ECU yesterday, or to employ margin as a strategy even though it backfired on my today.  There is risk in most things that we take for granted, and I do not mind taking on more risk to accomplish better returns.  Sometimes it goes sour, and sometimes I make a big profit off my borrowed money.

cheers!

mike