Re: Silver parabolic
in response to
by
posted on
Feb 26, 2008 06:40PM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Silver may well be parabolic, but ECU doesn't seem to be attached these days.
Eventually, the assays will come in, more and more of the resource will be placed into the more conservative categories and things will move accordingly.
For now, there is just a whole lot of selling and not enough buying. For new investors, looking to take advantage of this silver rally, will many of them really be looking at ECU? I think the charts of other silver plays will interest them more; they will not take the time to learn the whole ECU story.
Patience continues to be the most important characteristic for ECU shareholders. I like so much about the company, except for the share price that has been comatose for too long.
For those of you who wrote about the significance of the rise to $2.36, it seems to me that was nothing much more than some day traders trying to see if the 43-101 had legs, which, as far as the share price goes, it didn't.
I have great confidence that things will come around, and we will be appropriately rewarded; perhaps the anticipated string of NR's on the various assay results will do the trick, perhaps it will take even higher priced silver to do it, perhaps something else, including an updated 43-101.
I guess part of the reason I don't get too frustrated over matters, is that I have plenty of other positions, and many of those are doing fine, but, admittedly, ECU is my largest holding. Still, to have it be one's only holding or if it were an inordinate portion of one's portfolio, would be cause for heartburn, and with those folks, I truly sypmathize.
And all of you longs know for a fact that on the day you sell, the next day will see the start of meaningful price increases!! We'll get there.