I imagine "G" is looking at ratios, and the moving averages for such ratios, such as follows:

50 Day MA ECUXF:$Silver - .0309

200 Day MA ECUXF:$Silver - .0345

50 Day MA $Silver - 35.08

200 Day MA $Silver - 26.46

With $silver trading at $42.68 at this very moment, it is hard to grasp how ECUXF could be trading anywhere below $1.32, which is where it would be if it was merely trading at the 50 Day MA of the ECUXF:$Silver ratio.

Then of course is the simple fact that the ECUXF:$Silver ratio is trading at its lowest level since 2003, despite the huge gains in the price of Silver since that time and the significant exploration success the company has had since 2003.

The daily ECUXF:$Silver ratio spiked to .3006 in the middle of 2006 when Silver traded around $13.28. Since ECUXF's weighted average number of shares has increased roughly 63% since the middle of 2006, I'll adjust that peak in the ECUXF:$Silver ratio down to around .188 to approximate some type of apples to apples comparison. It is not a stretch to think that silver juniors should be trading near their highs as a percentage of the price of Silver. At an ECUXF:$Silver ratio of .188, ECUXF would be trading slightly over $8.00.

I continue to be puzzled by the institutional shorts who have played this from the short side during a strong bullish move in the price of silver. Seems to me, they could have made much more on the long side.....