Allow me to put my thoughts down more clearly...

For the last 6 years or so I have been buying physical gold and silver. The more I researched the market fundamentals, the more I knew I needed to own bullion, and I continued to add to my holdings even as the metals prices were climbing. However, during those steep corrections that we have put up with along the way, I was very happy to be buying more metal at cheap prices. I did not wring my hands in angst due to the selloffs, in fact I was delighted that I could add to my holdings. Even while others were claiming the bull market was over, the top was in, etc.

I think everyone on this forum believes gold and silver are going higher. How many of you were buyers last summer as gold fell below $700? How many were buying silver below $9? In hindsight, those prices look pretty good now. Next year the prices of today will probably look pretty good too. Who is buying more metal right now?

My point with ECU is similar. Like the metals, we have to put up with some questionable trading and most likely there is manipulation at work to suppress the share price. So what? I do not think this can continue indefinately. There is only so much juice you can squeeze out of the lemon. This last big PP may have been the final opportunity for the houses to run the stock. I do not see much volume of selling presure overhanging ECU from here, sectorwide correction or not in the weeks ahead. Why not be happy to add shares cheaply at the gift price that is available today. Unless people are second-guessing their decision to own the stock in the first place, it seems like the company is much stronger going forward and a much better bargain. Its a no-brainer to me.

cheers!

mike