Every time I think we have found a bottom and that things cannot possibly get any worse, things get worse.  This was a rotten week for ECU, and for most of the jnrs in my PF.  I am not even going to make prediction anymore on how things may pan out.  It is enough to just hang in with white knuckles, and try to tune out all of the noise and hysteria that is going on around me.

I can think of many times in the past where I have survived downright ugly conditions, and in each case the situation recovered very nicely.  But this is not the kind of thing that is any fun to deal with and I sympathize with those who have had enough and left the PM sector for good.

Paradoxically, the comfort for my investments is provided from my very small bullion holdings.  If anyone had told me that I would be watching silver trade above $17 and gold above $900, yet I would be sitting on a 50% loss in the value of ECU after the company proved up a resource above 200 million ounces, I would have thought they were crazy.  But it is what it is. 

Have a good weekend folks, and do not let the bastards get you down.

cheers!

mike