I think it is fascinating to watch a stock like HL trade tick for tick during these strange times. HL is down 3.30 % today with silver up .75%, and the SPY down 1.35%.

If HL was trading at its 50 day moving average of the HL:$Silver ratio it would be around $11 per share.

What is obvious is those shorting or selling HL are much stronger right now than those buying or long HL. The stock reacts much quicker to a down tick in the price of silver versus an uptick in the price of silver. The obvious question is why.....some of it relates to HL's recent news....but most have been aware of that potential for a long time...

Max pain for HL related to this Friday's Options expiration is $9.

If ECU was trading at its 50 day moving average of the ECU.To:$Silver ratio it would be around $1.27 per share. I still can't get over the disparity between IPT.V and ECU's share price...ECU traded higher than IPT.V in early November, 2010.