Good morning everyone. Well, how about the NOT monster? Another suprise from the stock yet again yesterday. The news that JP Morgan has entered into the equation was well received by investors yesterday to say the least. Its getting easier to read how the market makers are playing this stock.

Yesterday after the news about JP Morgan came out all institutional money stopped buying the stock and the share price slid as investors paniced and sold off their holdings. At that time I bought more shares and noted the sell off reeked of accumualtion from the market maker. They pull all their bids and let the retail guy sell off his holdings in small lots as they sit back and pick off the smaller sells. As soon as they have accumulated enough shares they start whacking the asks and drive the share price back up.

Its a dirty game they play, but its hard to beat the manipulators at their own game. From past experience of watching the market maker work the share price of NOT, I try and jump in and buy when I notice they are accumulating. i figure if they like the stock, why shouldn't I. Only danger in doing this is, sometimes you get in too early. That is the reason it is always better to buy in 1/3 rds or 1/2 positions to average out your cost per share. 

Well after yesterday one wonders what Nemis has up his sleeve today. We know NOT has a presentation at the Richmond Club later on this afternoon. My understanding is NOT asked to be included to the list of presenters at the last minute, so perhaps some big news is coming down the pipes today. You see its 7:45 am, I haven't heard a rumour yet, so I start one. LOL

For today:

NOT: pivot point $5.33, with support at $4.98, $4.41 and $4.06, resistance is at $5.90, $6.25, and $6.82

BMK: pivot point $.71, with support at $.67, $.63 and $.59, resistance is at $ .75, $.79 and $.83

FNC: pivot point $1.60, with support at $1.51, $1.47 and $1.38, resistance is at $1.64, $1.73 and $1.77

Best of luck to all the McFaulds Lake stock holders,

Al