$Silver opened trading the week of July 13, 2009 at $12.35 and closed the week at $13.17, rising above its 200 week moving average of $12.89 in the process. $Silver has remained above its 200 week moving average ever since, and closed yesterday at 254.82% of its 200 week moving average of $17.84.

Incredible, silver mining equities are lagging the metal in a major way. For example, bellweather SLW closed yesterday below the 200 week moving average for the SLW:$Silver ratio....closing at .88, under the 200 week moving average of .89.

Monday March 7th is a day that stands out to me. the SLW:$Silver ratio opened that day at 1.29, a level not seen since that day as the ratio has declined to .88. Why??

SLW opened at $46.28 on March 7, 2011 and $Silver opened at $35.63. Silver rose roughly 80 cents in early Asian trading Sunday night March 6 to the $36.45 area, but would close March 7th at $35.87.

Yesterday, SLW Closed at $39.17 and $Silver closed at 45.46. At the close yesterday, SLW had fallen more than $7 per share during a time that $Silver rose 27.6% over a stretch of 36 trading days.

Have institutional investors sold or shorted silver mining equities after listening to people like Bob Moriarty call for a $Silver top earlier this year in the $31-$38 range?

It would be nice for once to see these entities fail in their attempt to assert their will on the price of Silver.

Returning to that July 13, 2009 date....ECU.TO closed that week at $.56 with $Silver closing that week at $13.17. By October 21, 2009, ECU had risen to $.83 on a rise in the price of $Silver to $17.70.

ECU just dipped under $.83......

I hope this period of underperformance is followed eventually by a period of equal outperformance.

Since the open on January 3, 2011, Ecuxf has lost 57% of is value as a factor of the price of Silver...feels like Twilight Zone material.....