Can fellow meditators please help me observe my thoughts?

I am trying hard to find the part of myself that can observe and be aware of all the irrational, repetitive and obsessive thinking patterns that constantly bombard my conscious thoughts. This seems to be the main focus and message of Eckhart Tolle's teachings with his meditation. Though I am having trouble.

The problem is that I find it very hard to do this. I find it impossible to observe anything during any state while I'm absorbed in my silly think patterns and I get completely absorbed in the current thought. I can't find the part of me to separate myself from the thoughts and observe them from a distant part of myself. This observant state of mind immediately eradicates and stops the thinking process. I can't observe while thinking or think while observing. It's either one of the other. If I remember to observe my thought process my thinking stops instantaneous and I'm left in a thoughtless void - Maybe I'm missing something and this is actually the goal to be achieved - the observing itself will stop any thought entering my mind and maybe that is what Eckhardt was really trying to show us. Just how easy It can be to get the monkey of our back? by simply observing?
Though it doesn't take long, it's only a matter of time before I forget to maintain an observant state and the rapid thinking starts all over again and continues its merry way down the path of completely consuming and absorbing my self down with another petty thought process again.

But then again maybe it just takes time and practice? Please tell me what I'm doing wrong fellow mediators. I am completely approaching this technique the wrong way?

Thanks for listening and any advice would be grateful.