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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: the latest from Clive Maund

the latest from Clive Maund

posted on Jan 20, 2009 11:24AM

ECU SILVER MINING update...

originally published January 19th, 2009

From a trading standpoint we have mishandled ECU, for as we can see on the 6-month chart it was bought too early just before its final plunge, and it should have been sold on the dramatic spike that followed. However, the basic reasoning that it was undervalued was correct and remains the case, and from an investment standpoint the entry point was OK, although it clearly could have been better.
From a price/time standpoint we appear to be at a much better entry point now than we were at the point we bought back in November, for silver appears to be shaping up for a powerful advance, and ECU appears to be about to break out upside from the Symmetrical Triangle shown on our chart to make a run at the resistance level shown, and if it then goes on to break out above this it will mark the completion of the Head-and-Shoulders bottom within which the triangle is embedded. For the various reasons set out on the charts below the odds strongly favor an upside breakout by ECU very soon leading to a swift run at the first resistance level.
Subscribers who bought back in November should stay long and perhaps add to positions, and those who didn't or new subscribers may wish to consider buying here.
ECU Silver website
ECU Silver Mining Inc, ECU.TO, ECUXF on Other OTC, closed at C$0.80 and $0.653 on 19th January 09.
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