More like ECU remains a victim of the Dipstick Algos that key purely off the technicals and not a single computation involving fundamental analysis is factored into the equation. The heck with increasing profitability, continued resource/reserve growth, or the underlying Silver Bull that roared to life today. The only thing that matters is what the all-knowing all-seeing chart divines.
To wit - at the close today, the weekly MACD(3,6,7) remains slightly negative thus its natural correlation to the EMA(7) forced one or more Hedgies to dump (or short) ECU until it fell below EMA(7), which currently stands at $1.11. Of course someone could have forced these sales by giving a not so gentle nudge.... as GWR wrote:
"Someone from Cannacord dumped hard on ECU and it turned all the computers against ECU and down we went. That was violent and happened in 4 waves. The Cannacord sell was not computer generated, may have been a US order. It was not likely short selling. I got filled on a few orders today."
At any rate the Black Boxes could give a hoot about the Price of Silver or any other metal we produce - these simply do not factor into their rigid equations. These blindly obedient servants of "logic" completely ignore the extremely bullish posture of Silver which has now clearly worked it's way above the long-standing trading channel GWR posted. Small comfort though as us poor buggers continue to stand on the sidelines week after week watching this bull market pass by. Let's get those drills going already.
