Collusion in the gold marketI have a bit of a different take on EC, although i have a minor position and am new to the board, I have read all the posts this past week and a few beyond.
After the market meltdown of 2008, I reviewed my holdings and decided that with the exception of one stock, they were all good holdings, had good resources and were worth holding onto. Of the half dozen or so that I hold:
1 had dropped by 66% only to give me 400% gains which I locked in
1 dropped 70% and is now up 150% and has a takeover offer
1 dropped 80% and I'm still 60% underwater, but it has over 1M oz and working to increase its resource
1 dropped 90% i'm still 30% underwater and its pouring silver bars!
1 is dead and worth pizza money
1 is EC and I'm down about 30%
With that having been said, since 2008 i have noticed even more manipulation in the gold & Jr. market than before. I have some stocks that are trading at less than what they should be. If I recall correctly, the TSX-V was trading at a peak of 3200 before the crash, so we're still 50% off the highs and not gaining ground.
That tells me that the major financial institutions are beating down SP to load up as they know the USD & financial system are ready to become a black hole. Regardless of your opinion of EC's current meltdown - do you think it has the management & the property to make a major find? If the answer is yes, than current weakness should help guide your decision.
In a related matter - I wanted to share a recent posting on Youtube that is worth a watch:
https://www.youtube.com/watch?v=e9bU0r6JP4s
cheers!