ECU dipped to $1.25 while I was writing my earlier post. I missed it and put in a bid at $1.26 watched the market move higher without getting filled. There are now strong buy orders stepped up well above that price. This should be ringing a bell for anyone that is paying attention. As recently as just 2 weeks ago there was aggressive selling into any rally. Now we have aggressive buyers stepping up to buy dips. We are looking at a major shift in psychology here if this trend holds up.

Even with the heavy pressure on the metals I notice that quite a few other juniors have recovered very quickly off the lows of the day. Perhaps we have more downside work to do, and maybe some margin call selling will be a factor, but my expectation is for a resumption of the uptrend for the entire sector before xmas.

I will keep my bid in for more ECU but I suspect I have already seen the lows on this move and missed it.

cheers!

mike