Thank goodness its Friday, what a nightmare of a week for the McFaulds Lake stocks. We finally got some news from the assay front from NOT and investors sold the stock off hard. What a fickle group we are, the assays where for the most part pretty good, but the lack of assays from Hole #18 had investors scrambling for the exits.

I took a position in NOT at $4.50 thinking a bottom was in only to get stopped out at $4.45, no use trying to be a hero. I took the small loss and will now wait for a real bottom to emerge before re-entering. I certainly wouldn't be supprised to see an attempt to double bottom this stock at the $3.92 level. Perhaps taking a position around the $4 mark after the double bottom has been put in would be the proper way to play this one.

The rest of the McFaulds Lake stocks got hammered to the downside also. My best guess here is investors are getting tired of this entire play and will require some leadership from NOT to get re-interested. A barn burner on the assay front, from Hole #18 is now required to right the ship here. News from the EM surveys may give a few of the plays a boost in the short term.

Many investors are wondering if this is a buying opportunity and my best answer would be yes, if you have a longer term view of the plays. If you have a shorter term view, standing on the sidelines until a clear bottom has been put in and the stocks turn to the upside would be the prudent thing to do. No use fighting the trend here and the trend is clearly down.

Good luck to all who play the McFaulds Lake stocks, and may today be the day the stocks turn to the upside.

Al