Thirsty.... I realize this won't appease you, but the longer that ECU bases in this broad $.50-.90 zone, the bigger the move when she blows. ECU moved from $.50 to .90 in just over a month [Oct/Nov 2009], and has come back to make a higher base at about $.56 over 6 weeks ago. There has been no technical breakdown and volume has been improving as the compression triangle appears nearly out of coiling room. Perhaps that formation will prove invalid, but we will know within 5-10 trading days.
The psychological damage and low sentiment represent a termite infestation here that is eating at the framework of patience.
On a separate note, some here know that Martin Armstrong has been thrown back in the prison solitary hole for things that political prisoner has written. He is now only able to get out a few hand written pages at a time. He sees early April as a key time for gold and just last week said this. "Gold made its high Dec. 3, 2009 at spot $1226. Key initial support now lies at $1028 followed by $930. Here we have a 14 month rally from the Oct. 2008 low. A weekly close above spot $1162 will signal a retest of last year's high of $1226."
With gold at $1105 today, one can see how comfortably above the $1028 initial MAJOR support Armstrong mentioned above. And we also know that there is support at $1095-1100, $1080, and at the Feb. low of $1045.
And to finish with ECU...yes, I can totally understand how anyone with a major portion of their invesrtment funds sleeping in ECU Silver stock could be getting restless and frustrated......pic
