The market price of the stock today is a fakeout in my opinion. I have watched the market depth since before the open, and there have been large bids stacked all the way down with very thin pockets of stock available on the offer. As I posted earlier this month I think it is shorts that are sitting on bids to close positions. The stock opened strong and then was driven sharply lower as a wave of market orders hit the stock. The sell depth is still very thin. I regard this as a fakeout, an attempt to spook retail buyers from getting too interested at this low price level. I still think there is a determined effort underway to buy cheaply and close out existing shorts.

Unlike the metals pits, there is nothing that any concentrated shorts can do to directly influence the share price for ECU. They can play games showing phantom offers, and perhaps line up shills and scumbags to trash the stock on various public forums, but as long as we have strong bid depth they cannot dump new shorts to drive the share price lower. This is a waiting game, plain and simple.

If the metals start showing a breakout, the shorts will have to rise their bids to cover and ECU will start to run. I do not think any rational spec wants to be short ECU when the drills start turning again, and I think that will be soon. So either way I think there will be some buying coming into the market, and as the stock rises new spec longs will be attracted too.

All of the above is my personal opinion. ECU is a paid advertiser on my website. I own shares.

cheers!

mike